INSIGHT GLOBAL FUNDS II PLC

(An Investment Company with Variable Capital and Segregated Liability between Funds)

CONDENSED INTERIM REPORT AND FINANCIAL STATEMENTS

SIX MONTHS ENDED 31 MAY 2021

UNAUDITED

Insight Global Funds II PLC

Contents PAGE

Investment Manager’s Report 1

Portfolio and Schedule of Investments

Insight Emerging Markets Debt Fund 9

Insight Global (ex-UK) Bond Fund 12

Insight High Grade ABS Fund 15

Insight Enhanced Buy and Maintain Bond Fund (formerly Insight Diversified Corporate Bond Fund) 28

Insight Buy and Maintain Bond Fund 35

Insight Liquid ABS Fund 46

Insight Short Dated Buy and Maintain Bond Fund 54

Statement of Comprehensive Income 59

Statement of Financial Position 63

Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares 67

Notes to the Financial Statements 71

Directors and Other Information 97

Appendices 98

Portfolio Changes 99 Insight Global Funds II PLC Insight Emerging Markets Debt Fund Investment Manager’s Report For the six months ended 31 May 2021

Market overview

Emerging market (“EM”) debt sectors enjoyed a strong end to 2020 as positive news about promising COVID-19 vaccines, along with continued support from huge monetary and fiscal policy stimulus, boosted returns across local rates, hard currency sovereigns and corporate bonds. Optimism increased that the rollout of vaccination programmes would lead to the gradual reopening of economies, while higher commodity prices and hopes of improved US- China relations, following November’s US presidential election result, were other positives. The risk-on environment continued during the first quarter of 2021. While the global economic outlook continued to improve, higherUS Treasury yields and escalating COVID-19 cases (particularly in India but also in the likes of Brazil), with the slow rollout of vaccination programmes in many EMs, were notable headwinds. A fallback in US Treasury yields in April provided a more benign backdrop as the Federal Reserve (the “Fed”) maintained its highly accommodative policy stance. However, rates volatility then markedly picked up in May as investors tried to determine whether higher inflation was concerning or merely transitory.

Portfolio review

The Fund returned -0.07% in the six months under review, underperforming 3-month GBP Libid, which returned 0.02% over the same period.

Towards the end of 2020, Fund performance was initially positive due to local currency rates and sovereign credit; FX and local corporates also marginally contributed. The largest contributors were in Latin America, especially our local rates positions in Brazil, Mexico and Colombia.

However, Fund performance was then negative in all of the first three months of 2021 against a backdrop of rising US Treasury yields and idiosyncratic political developments as local rates, hard currency sovereign and FX positions all detracted. In particular, in Brazil, our long positions in local rates and FX detracted on fears around higher fiscal spending and political noise. In March, the long positions held in Turkey’s sovereign credit and currency were the most significant underperformers given the resignation of the market-friendly central bank governor, leading to concerns over a reversal of prudent monetary policy.

Fund performance was positive again over the second quarter. Local rates positions, which we added to in the belief that they had sold off excessively since the start of 2021, were the key driver of returns, supported by lower US Treasury yields; Brazil and Egypt notably contributed at the country level.

Outlook

The tussle between economic recovery and bullishness around the mass reopening of economies on the one hand, and inflationary consequences on the other, will keep core rates volatility high for the rest of 2021. Although the market remains divided around how transitory inflationary pressures will be, for the moment the dovish rhetoric from the Fed is keeping US Treasury rates in check. That said, 10-year US Treasury yields could end up around 2% before year-end as markets may try to price in that the higher inflation environment is less transitory than the Fed continues to communicate. However, we believe the fundamental backdrop is still supportive for EM fixed income assets. EM growth continues to rebound strongly, particularly in Central & Eastern Europe, the Middle East & Africa, and Latin America where vaccine rollouts are beginning to catch up towards the levels of developed market peers. EM current account balances are as strong as they have been in 10 years, thanks to higher commodity prices improving the terms of trade for many large EM economies. Additionally, the new $650bn allocation of Special Drawing Rights at the International Monetary Fund should provide a much-needed extra source of financing for some of the poorer countries in the EM high yield sovereign space.

Insight Investment Funds Management Limited 160 Queen Victoria Street London EC4V 4LA England

June 2021

1 Insight Global Funds II PLC Insight Global (ex-UK) Bond Fund Investment Manager’s Report For the six months ended 31 May 2021

Market overview

The Federal Reserve (the “Fed”) maintained a highly accommodative monetary policy stance over the period, keeping the federal funds rate in a 0-0.25% target range and monthly asset purchases at $120bn, as it sought to protect the US economy from the effects of the pandemic. The Fed is still targeting average inflation of 2% over time, as well as aiming for its other goal of full employment, but tapering is now under consideration. With an improving economic outlook and inflation trending higher, the 10-year Treasury yield rose from 0.9% at the start of the period to 1.7% in April before falling slightly to 1.6%, with the market seemingly taking the Fed’s view that any inflationary pressures would be transitory.

The European Central Bank maintained its ultra-loose monetary policy over the period, keeping interest rates historically low and increasing its Pandemic Emergency Purchase Programme (the “PEPP”) by €500bn to €1.85trn, as well as extending the PEPP until at least the end of 2022 and accelerating asset purchases in early 2021. The yield on 10-year Bunds rose steadily from -0.6% to -0.2% as a quicker rollout of the region’s lagging COVID-19 vaccination programme led to a robust economic recovery.

Portfolio review

The Global (ex-UK) Bond Fund underperformed its benchmark over the six months under review, returning -9.01% compared to a return of -8.92% for the JPMorgan Global Government (ex-UK) Traded Bond Index.

In terms of attribution, long duration positions in Australian, Chinese, Italian and Japanese government bonds weighed on performance as yields rose over the course of the first quarter of 2021. An overall short duration position also hurt returns in the second quarter. In addition, yield curve positions detracted because of a flattener position held in Australia and a trade in the US which detracted due to the underperformance of the 20-year part of the curve. However, country selection was positive given the Fund was long peripheral European markets relative to those in the core; a long US versus UK position also supported performance.

In emerging markets, the Fund’s allocation to local and hard-currency emerging-market bonds was positive, particularly in December.

Credit strategy also helped as our allocation to credit benefited from a tightening in spreads.

Outlook

We are still in a recovery phase from the pandemic and experiencing sharp base-effect inflation rises and supply constraints. We foresee inflation fading in the US over the rest of the year but peaking in Europe in October and November. The outlook for growth still remains strong.

The Federal Open Market Committee has raised its predictions of US GDP and the average inflation figure for 2021, while foreseeing lower unemployment in 2022, compared to March's forecast. This has reinforced market confidence in rate hikes and an end to tapering. Given the beta of US Treasuries to German Bunds and gilts is fairly high, we would expect investors to factor in greater expectations of rate rises in those markets too.

We do not envisage the European Central Bank (the “ECB”) raising rates anytime soon, but our expectations are for their purchases of securities to fall in September. This will help offset the decline in net supply from EU member governments and the ECB. We envisage one hike for the UK by the end of 2023 and a further hike a year thereafter.

Insight Investment Funds Management Limited 160 Queen Victoria Street London EC4V 4LA England

June 2021

2 Insight Global Funds II PLC Insight High Grade ABS Fund Investment Manager’s Report For the six months ended 31 May 2021

Market overview

Over the period, the European structured credit market performed relatively well with the continuing compression of higher yielding sectors like UK non-conforming mortgages and collateralised loan obligations (“CLOs”), particularly in deeper credit tranches, and the flattening of both credit and term structures. The US structured credit market also performed well over the period as we continued to see the flattening of capital structures and the narrowing of the basis between the vanilla and more esoteric sectors.

At the end of 2020, risk assets performed strongly in November on positive vaccine news and greater political clarity after the US election. However, it was a slower month for issuance. December was another strong month for risk assets as excess liquidity provided a strong technical tailwind. There was very limited issuance in European markets.

Moving into the first quarter of 2021, January was another good month for risk assets given unprecedented fiscal and monetary support and despite several risk events. Issuance returned to European markets, but deal flow failed to keep up with demand, leading to tranches being multiple times oversubscribed and making sourcing more difficult. February was again a reasonable month for risk assets despite a significant sell-off in bond yields given rising inflation concerns. March was also another solid for risk assets as equities rallied, corporate credit spreads tightened, and commodities rose strongly. In both months, COVID-19-impacted asset classes continued to outperform in Europe, with a technical squeeze evident as supply, which was solid, continued to be outweighed by demand.

April saw broad-based gains across most asset classes, given improving economic conditions and a dovish Federal Reserve. May was another strong month for risk assets as the market continued to shrug off inflation concerns. The European structured credit market performed well, with higher beta assets the best-performing assets, as well as down in credit (both from a sector and tranche perspective) and where supply was most constrained. CLOs also did well. There was high issuance from several European structured credit sectors although demand surpassed available supply. The US structured credit market also performed well, as the credit curve flattened. Esoteric areas of the ABS market did well, as did middle-market CLOs.

Portfolio review

The Fund outperformed its benchmark over the six months to 31 May 2021, returning 1.56% while one-month sterling SONIA returned 0.02%.

Performance over the period was driven by the broad-based rally in risk. In terms of activity, in November 2020 we added risk in most senior markets, preferring first-pay cashflows and higher quality collateral pools. Activity was then relatively muted over the remainder of the period although we did add risk where we could and when there was good relative value, including in the AA-rated CLO market. In May, we also added risk in new issues. The Fund ended the period with a running yield of 126bp ahead of one-month sterling SONIA and a 64% weighting to AAA-rated assets.

Outlook

The long-term strategic value of the asset class remains strong: holdings are all highly rated; the market has a supply/ demand imbalance; forecast returns are relatively attractive; and a large percentage of the asset class globally comprises short dated fixed rates or floating rate notes.

Insight Investment Funds Management Limited 160 Queen Victoria Street London EC4V 4LA England

June 2021

3 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund Investment Manager’s Report For the six months ended 31 May 2021

Market overview

In December risk assets performed positively, driven by a combination of factors, including fiscal support and vaccine optimism. Credit spreads ended the month modestly higher, while government bond yields in most major markets slightly increased. The new year began quietly. The most notable moves in January were in risk-free rates as government bond yields, led by US Treasuries, moved swiftly higher. Credit spreads traded in a narrow range. February was a lively month for financial markets as the sell-off in government bonds intensified, with the US as the epicentre. Cash credit spreads were largely unaffected by the volatility elsewhere and continued to trade in a fairly narrow range. However, there was some weakness in credit default swap indices. The volatility seen in government bond markets throughout February continued in March, with yields in developed markets continuing to rise sharply. This caused weakness in cash credit as concerns around accelerating inflation expectations affected sentiment; however, this was fairly short-lived, and spreads finished the month broadly flat. In April, the sustained sell-off in risk free rates seen throughout the first quarter reversed somewhat as central banks reiterated their cautious and patient approach to any potential future tightening of monetary policy. Within risk markets there was a small tightening in credit spreads. In May, global risk-free markets traded broadly flat as slightly weaker economic data in the US reinforced the view that the Federal Reserve (the “Fed”) remains a significant way from its policy goals and is thus unlikely to rush to tighten their current accommodative policy stance. Credit markets ground marginally tighter over the month with the key theme coming in the US where we saw a return of Asian demand in the long end of the curve which helped to bolster sentiment.

Portfolio review

Please note: The Insight Diversified Corporate Bond Fund was renamed Insight Enhanced Buy and Maintain Bond Fund on 19 March 2021 to reflect the change in strategy of the fund. Full performance and commentary will be provided from the second quarter onward.

30 November 2020 to 28 February 2021 (prior to name change) The Fund outperformed its benchmark during the period from 30 November 2020 to 28 February 2021, returning -2.32% (gross) while the benchmark Markit iBoxx GBP Collaterized & Corp (1% Issuer Cap/25% Sector Cap) returned -2.64%.

21 March 2021 to 30 May 2021 (post name change) The Fund outperformed its benchmark during the period from 21 March 2021 to 31 May 2021, returning 1.65% (gross) while the benchmark (iBoxx Sterling Corporate & Collateralised (ex T1, UT2, iT1, iUT2; 1% ticker constrained; 25% Level 3 constrained) Index) returned 1.49%.

Outlook

The market continues to shrug off inflation concerns. The consensus view in credit appears to be a world of strong economic recovery with accommodating central bank policies that will taper/tighten only when the time is “right” with that patience possible as inflation will prove to be a largely transitory phenomenon.

In the US, the outlook for growth still remains strong. The Federal Open Market Committee has raised its predictions of US GDP and the average inflation figure for 2021, while foreseeing lower unemployment in 2022, compared to March's forecast. This has reinforced market confidence in rate hikes and an end to tapering. Given the beta of US Treasuries to German Bunds and gilts is fairly high, we would expect the market to factor in greater expectations of rises for those too.

In Europe we do not expect the European Central Bank (the “ECB”) to raise rates anytime soon, but our expectations are for their purchase of securities to fall in September. This will help offset the decline in net supply from EU member governments and the ECB. We envisage one hike for the UK by the end of 2023 and one hike a year thereafter.

Insight Investment Funds Management Limited 160 Queen Victoria Street London EC4V 4LA England

June 2021 4 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund Investment Manager’s Report For the six months ended 31 May 2021

Market overview

In December risk assets performed positively, driven by a combination of factors, including fiscal support and vaccine optimism. Credit spreads ended the month modestly higher, while government bond yields in most major markets slightly increased. The new year began quietly. The most notable moves in January were in risk-free rates as government bond yields, led by US Treasuries, moved swiftly higher. Credit spreads traded in a narrow range. February was a lively month for financial markets as the sell-off in government bonds intensified, with the US as the epicentre. Cash credit spreads were largely unaffected by the volatility elsewhere and continued to trade in a fairly narrow range. However, there was some weakness in credit default swap indices. The volatility seen in government bond markets throughout February continued in March, with yields in developed markets continuing to rise sharply. This caused weakness in cash credit as concerns around accelerating inflation expectations affected sentiment; however, this was fairly short-lived, and spreads finished the month broadly flat. In April, the sustained sell-off in risk free rates seen throughout the first quarter reversed somewhat as central banks reiterated their cautious and patient approach to any potential future tightening of monetary policy. Within risk markets there was a small tightening in credit spreads. In May, global risk-free markets traded broadly flat as slightly weaker economic data in the US reinforced the view that the Fed remains a significant way from its policy goals and is thus unlikely to rush to tighten their current accommodative policy stance. Credit markets ground marginally tighter over the month with the key theme coming in the US where we saw a return of Asian demand in the long end of the curve which helped to bolster sentiment.

Portfolio review

The Fund outperformed its benchmark in the six months under review, returning -1.02% while the Markit iBoxx Sterling Corporate & Collateralised (ex T1, UT2, iT1, iUT2; 1% ticker constrained; 25% Level 3 constrained) Index returned -1.77%.

Outlook

The market continues to shrug off inflation concerns. The consensus view in credit appears to be a world of strong economic recovery with accommodating central bank policies that will taper/tighten only when the time is “right” with that patience possible as inflation will prove to be a largely transitory phenomenon.

In the US, the outlook for growth still remains strong. The Federal Open Market Committee has raised its predictions of US GDP and the average inflation figure for 2021, while foreseeing lower unemployment in 2022, compared to March's forecast. This has reinforced market confidence in rate hikes and an end to tapering. Given the beta of US Treasuries to German bunds and gilts is fairly high, we would expect the market to factor in greater expectations of rises for those too.

In Europe we do not expect the European Central Bank (the “ECB”) to raise rates anytime soon, but our expectations are for their purchase of securities to fall in September. This will help offset the decline in net supply from EU member governments and the ECB. We envisage one hike for the UK by the end of 2023 and one hike a year thereafter.

Insight Investment Funds Management Limited 160 Queen Victoria Street London EC4V 4LA England

June 2021

5 Insight Global Funds II PLC Insight Sustainable Euro Corporate Bond Fund Investment Manager’s Report For the six months ended 31 May 2021

Market overview

Despite a fresh wave of coronavirus cases (triggered by new variants), leading to the reimposition of localised lockdown measures in certain countries, optimism of an economic recovery grew following positive vaccine news. Improved investor risk appetite led to a rally in European corporate bonds, particularly high yield, over the period. In Europe, both core and peripheral government bonds sold off as US Treasury yields moved sharply higher given rising growth and inflation expectations. Higher oil prices, given a more supportive demand/supply balance, relieved some of the pressure on energy-related credits. Despite an improving economic outlook and mounting investor concerns about inflationary pressures, many countries’ central banks, led by the US Federal Reserve, kept accommodative monetary policies given heightened uncertainty due to the pandemic; large fiscal stimulus packages underpinned sentiment.

Portfolio review

The Fund gross of fees outperformed its benchmark over six months to 31 May 2021 by 17 basis points, returning -0.47%, while the Bloomberg Barclays Euro Aggregate Corporate Index returned -0.64%.

Credit beta was overall positive over the last 6 months. The fund remains overweight credit risk, given the supportive technical market environment. European credit spreads tightened c. 8bps over the last 6 months.

Sector allocation detracted. The overweight in telecoms and food & beverages and underweight in autos detracted from performance, while the overweight in the property sector and underweight in energy was positive for performance.

Security selection was positive. We were active in the primary market and participated in attractive new issues, such as Unibail (property), which benefited from easing lockdowns and positive news on the rollout of vaccine programmes. Wintershall, a German energy company, in majority ownership of BASF, was another name that contributed positively to performance.

We also bought a number of green issues, such as Citycon, Faurecia, Caixabank, Iberdrola, Leaseplan, and Ardagh Metal Packaging, to name a few examples.

As of the end of May, 22.4% of the fund is currently invested in positive impact bonds (vs 17.3% benchmark). Weighted average ESG score is 2.1 vs benchmark 2.4 (according to Insight Investment’s proprietary Prime corporate ESG ratings range of 1 to 5 with the lower the score, the better). Its carbon intensity is 60% of the benchmark score.

Outlook

The improving global outlook has led to upward pressure on yields, but we believe monetary policy should act as an anchor for a considerable time yet, with central banks unlikely to take any risks that could derail the recovery. Inflation may rise in the short term given rising commodity prices and base effects, but we believe this is likely to be transitory. We are looking at differentiated economic recoveries, with the eurozone grappling with the COVID-19 vaccine rollout and facing renewed lockdowns due to a third wave in virus cases.

On 27 March 2021, Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund.

Insight Investment Funds Management Limited 160 Queen Victoria Street London EC4V 4LA England

June 2021

6 Insight Global Funds II PLC Insight Liquid ABS Fund Investment Manager’s Report For the six months ended 31 May 2021

Market overview

Over the period, the European structured credit market performed relatively well with the continuing compression of higher yielding sectors like UK non-conforming mortgages and collateralised loan obligations (“CLOs”), particularly in deeper credit tranches, and the flattening of both credit and term structures. The US structured credit market also performed well over the period as we continued to see the flattening of capital structures and the narrowing of the basis between the vanilla and more esoteric sectors.

At the end of 2020, risk assets performed strongly in November on positive vaccine news and greater political clarity after the US election. However, it was a slower month for issuance with the Australian asset-backed securities market (ABS) having the most sustained issuance. December was another strong month for risk assets as excess liquidity provided a strong technical tailwind. There was very limited issuance in European markets.

Moving into the first quarter of 2021, January was another good month for risk assets given unprecedented fiscal and monetary support and despite several risk events. Issuance returned to European markets, but deal flow failed to keep up with demand, leading to tranches being multiple times oversubscribed and making sourcing more difficult. February was again a reasonable month for risk assets despite a significant sell-off in bond yields given rising inflation concerns. March was also another solid for risk assets as equities rallied, corporate credit spreads tightened, and commodities rose strongly. In both months, COVID-19 impacted asset classes continued to outperform in Europe, with a technical squeeze evident as supply, which was solid, continued to be outweighed by demand.

April saw broad-based gains across most asset classes, given improving economic conditions and a dovish Federal Reserve. May was another strong month for risk assets as the market continued to shrug off inflation concerns. The European structured credit market performed well, with the best-performing assets those that were higher beta, down in credit (both from a sector and tranche perspective) and where supply was most constrained. CLOs also did well. There was high issuance from several European structured credit sectors although demand surpassed available supply. The US structured credit market also performed well, as the credit curve flattened. Esoteric areas of the ABS market did well, as did middle-market CLOs.

Portfolio review

The Fund outperformed its benchmark over the six months to 31 May 2021, returning 0.85% while one-month sterling SONIA returned 0.02%.

Performance over the period was driven by the broad-based rally in risk. In terms of activity, in November 2020 we added risk in most senior markets, preferring first-pay cashflows and higher quality collateral pools. Activity was then relatively muted over the remainder of the period although we did add risk where we could and when there was good relative value, including in the AA-rated CLO market. In May, we also added risk in new issues. The Fund ended the period with a running yield of 43bp ahead of one-month sterling SONIA and a 98% weighting to AAA-rated assets.

Outlook

The long-term strategic value of the asset class remains strong: the holdings are all highly rated; the market has a supply/demand imbalance; forecast returns are relatively attractive; and a large percentage of the asset class globally comprises short dated fixed rates or floating rate notes.

Insight Investment Funds Management Limited 160 Queen Victoria Street London EC4V 4LA England

June 2021

7 Insight Global Funds II PLC Insight Short Dated Buy and Maintain Bond Fund Investment Manager’s Report For the six months ended 31 May 2021

Market overview

The Federal Reserve (the “Fed”) maintained a highly accommodative monetary policy stance over the period, keeping the fed funds rate in a 0-0.25% target range and monthly asset purchases at $120bn, as it sought to protect the US economy from the effects of the pandemic. The Fed is still targeting average inflation of 2% over time, as well as aiming for its other goal of full employment, but tapering is now under consideration. Against a backdrop of higher 10-year US Treasury yields, US investment grade corporate bonds generated a negative total return as yields on the instruments rose 29bps to 2.14%. However, spreads tightened 21bps to 0.91%. Meanwhile, US high yield corporate bonds generated a positive return as yields on the instruments fell 50bps to 4.29% and spreads tightened 99bps to 3.34% given the prevailing ‘risk on’ environment for much of the period and investors’ continued hunt for yield.

The Bank of England kept the Base Rate at a record low of 0.1% and its asset purchase programme at £895bn but slowed down its rate of purchases in May. As a rapid rollout of COVID-19 inoculations boosted the economic outlook, 10-year UK gilt yields mirrored US Treasury yields, rising from 0.3% to 0.8% in April before flattening as the spread of virus variants delayed further reopening plans. Sterling investment grade corporate bonds generated a negative total return despite a 10bp tightening in spreads to 110bps over the period but high yield instruments fared more strongly, similar to in the US.

The European Central Bank (the “ECB”) maintained its ultra-loose monetary policy over the period, keeping interest rates historically low and increasing its Pandemic Emergency Purchase Programme (the “PEPP”) by €500bn to €1.85trn, as well as extending the PEPP until at least the end of 2022 and accelerating asset purchases in early 2021. The yield on 10-year Bunds rose steadily from -0.6% to -0.2% as a quicker rollout of the region’s lagging COVID-19 vaccination programme led to a robust economic recovery. Euro investment grade corporate bonds generated a negative total return despite a 9bp tightening in spreads to 85bps over the period but high yield instruments fared more strongly, similar to in the US.

Portfolio review

The Short-Dated Buy and Maintain Fund outperformed its comparator over the six months under review, returning 0.65% while the Markit iBoxx GBP Corporates & Collateralized 0-5 years Index returned 0.50%.

There were no distressed sales or defaults over the period, and also no sales for credit reasons. Over the period, we continued to invest in attractive new issues from various issuers including insurer MetLife, Nationwide Building Society, railway company Deutsche Bahn and chemical company Ineos Quattro, as well as compelling secondary market opportunities.

Outlook

We are still in a recovery phase from the pandemic and experiencing sharp base-effect inflation rises and supply constraints. We foresee inflation fading in the US over the rest of the year but peaking in Europe in October and November. The outlook for growth still remains strong.

The Federal Open Market Committee has raised its predictions of US GDP and the average inflation figure for 2021, while foreseeing lower unemployment in 2022, compared to March's forecast. This has reinforced market confidence in rate hikes and an end to tapering. Given the beta of US Treasuries to German Bunds and gilts is fairly high, we would expect investors to factor in greater expectations of rate rises in those markets, too.

We do not envisage the ECB raising rates anytime soon, but our expectations are for their purchases of securities to fall in September. This will help offset the decline in net supply from EU member governments and the ECB. We envisage one hike for the UK by the end of 2023 and a further hike a year thereafter.

Insight Investment Funds Management Limited 160 Queen Victoria Street London EC4V 4LA England

June 2021

8 Insight Global Funds II PLC Insight Emerging Markets Debt Fund Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Investment funds (30 November 2020: 4.67%) Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2^^ UCITS 18,269,688 12,873,682 4.69

Total value of investment funds 12,873,682 4.69

Corporate bonds (30 November 2020: 0.04%) – –

Government bonds (30 November 2020: 86.70%) Argentina (Republic of) 0.00% Bonds 31.12.2033 5,000,000 872,975 0.32 China (People's Republic of) 2.65% Bonds 14.07.2021 15,000,000 1,661,970 0.61 China (People's Republic of) 3.13% Bonds 21.11.2029 43,200,000 4,796,103 1.75 China (People's Republic of) 3.85% Bonds 01.02.2028 24,240,000 2,836,686 1.04 Colombia (Republic of) 6.00% Bonds 28.04.2028 7,886,700,000 1,445,479 0.53 Colombia (Republic of) 6.25% Bonds 26.11.2025 38,263,400,000 7,493,437 2.73 Colombia (Republic of) 7.75% Bonds 18.09.2030 13,400,000,000 2,637,234 0.96 Development Bank of Kazakhstan 8.95% Bonds 04.05.2023 1,630,000,000 2,689,015 0.98 Development Bank of Kazakhstan 10.95% Bonds 06.05.2026 880,000,000 1,458,630 0.53 Egypt (Arab Republic of) 0.00% Bonds 31.08.2021 134,300,000 5,861,158 2.14 Egypt (Arab Republic of) 0.00% Bonds 18.01.2022 84,500,000 3,513,868 1.28 Egypt (Arab Republic of) 0.00% Bonds 01.03.2022 136,000,000 5,576,854 2.03 Egypt (Arab Republic of) 7.05% Bonds 15.01.2032 2,800,000 2,065,990 0.75 France (Government of) 0.00% Bonds 09.06.2021 16,440,000 14,128,604 5.15 France (Government of) 0.00% Bonds 28.07.2021 19,920,000 17,134,123 6.25 France (Government of) 0.00% Bonds 04.08.2021 35,700,000 30,711,034 11.20 Germany (Federal Republic of) 0.00% Bonds 28.07.2021 17,700,000 15,224,959 5.55 Germany (Federal Republic of) 0.00% Bonds 25.08.2021 36,540,000 31,446,423 11.47 Hungary (Republic of) 4.00% Bonds 28.04.2051 530,000,000 1,401,563 0.51 Indonesia (Republic of) 7.00% Bonds 15.05.2027 147,200,000,000 7,685,826 2.80 Indonesia (Republic of) 8.13% Bonds 15.05.2024 28,710,000,000 1,539,685 0.56 Indonesia (Republic of) 8.25% Bonds 15.05.2029 51,500,000,000 2,838,115 1.04 Mexican Bonos 5.75% Bonds 05.03.2026 166,343,800 5,794,951 2.11 Mexican Bonos 8.50% Bonds 18.11.2038 45,000,000 1,767,807 0.65 Russian Federation (Ministry of Finance) 7.15% Bonds 12.11.2025 436,500,000 4,315,208 1.57 Russian Federation (Ministry of Finance) 7.40% Bonds 17.07.2024 314,400,000 3,114,610 1.14 Russian Federation (Ministry of Finance) 7.75% Bonds 16.09.2026 594,000,000 6,014,076 2.19 Russian Federation (Ministry of Finance) 7.95% Bonds 07.10.2026 131,000,000 1,335,859 0.49 Secretaria Tesouro Nacional 10.00% Bonds 01.01.2025 7,100,000 10,601,047 3.87 Secretaria Tesouro Nacional 10.00% Bonds 01.01.2027 2,600,000 3,884,001 1.42 Secretaria Tesouro Nacional 10.00% Bonds 01.01.2029 1,900,000 2,832,442 1.03 South Africa (Republic of) 8.88% Bonds 28.02.2035 66,000,000 3,030,399 1.11 South Africa (Republic of) 10.50% Bonds 21.12.2026 43,350,261 2,534,166 0.92 US Treasury Bills 0.00% Bonds 15.07.2021 19,500,000 13,740,535 5.01

Total value of government bonds 223,984,832 81.69

Total value of transferable securities 223,984,832 81.69

Currency options (30 November 2020: 0.11%)

Unrealised gain on currency options (30 November 2020: 0.16%) – – Unrealised loss on currency options (30 November 2020: (0.05%)) – –

No. of Unrealised % of Net

Security Description FUTGL Contracts Gain/(Loss) £ WAssets

Futures contracts (30 November 2020: 0.00%) Future Sep 2021 US 5 Year T-Note CBT (62) (5,538) – Future Sep 2021 US Ultra CBT (29) (14,850) –

9 Insight Global Funds II PLC Insight Emerging Markets Debt Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

No. of Unrealised % of Net

Security Description FUTGL Contracts Gain/(Loss) £ WAssets

Futures contracts (30 November 2020: 0.00%) (Continued) Future Sep 2021 10 Year T-Note (148) (20,484) (0.01)

Unrealised gain on futures contracts (30 November 2020: 0.00%) – – Unrealised loss on futures contracts (30 November 2020: 0.00%) (40,872) (0.01) Net unrealised loss on futures contracts (40,872) (0.01)

Forward currency contracts (30 November 2020: 1.15%)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

JP Morgan 26.07.2021 USD 17,391,021 COP 63,578,095,000 210,278 0.08 Merrill Lynch 29.07.2021 HUF 1,159,071,000 USD 3,917,474 96,524 0.04 Morgan Stanley 26.07.2021 KRW 8,500,000,000 USD 7,542,549 61,792 0.02 UBS 26.07.2021 CLP 4,240,000,000 USD 5,770,622 55,641 0.02 Royal Bank of Scotland 29.07.2021 GBP 39,177,866 EUR 45,500,000 37,800 0.02 UBS 29.07.2021 GBP 39,182,335 EUR 45,510,000 33,667 0.01 HSBC Bank 29.07.2021 GBP 39,180,014 EUR 45,510,000 31,346 0.01 Royal Bank of Scotland 29.07.2021 GBP 2,180,031 USD 3,080,000 9,838 – UBS 29.07.2021 HUF 734,522,000 USD 2,555,825 9,551 – Merrill Lynch 29.07.2021 THB 17,600,000 USD 560,520 1,809 – Goldman Sachs 29.07.2021 USD 36,413 RON 149,000 (315) – Morgan Stanley 29.07.2021 USD 45,045 CZK 951,000 (351) – Morgan Stanley 29.07.2021 USD 235,113 PLN 881,000 (3,231) – HSBC Bank 29.07.2021 MXN 81,063,000 USD 4,053,986 (7,514) – BNP Paribas 02.07.2021 USD 6,085,369 BRL 31,900,000 (12,123) – Barclays Bank 26.07.2021 MYR 48,000,000 USD 11,615,245 (13,444) (0.01) Goldman Sachs 26.07.2021 USD 21,344,010 IDR 307,439,117,000 (17,295) (0.01) Royal Bank of Canada 29.07.2021 GBP 29,755,430 USD 42,260,000 (21,307) (0.01) UBS 29.07.2021 GBP 29,755,283 USD 42,260,000 (21,454) (0.01) HSBC Bank 29.07.2021 GBP 29,754,424 USD 42,260,000 (22,313) (0.01) Royal Bank of Scotland 29.07.2021 GBP 29,747,048 USD 42,250,000 (22,643) (0.01) Morgan Stanley 29.07.2021 GBP 29,752,796 USD 42,260,000 (23,940) (0.01) Goldman Sachs 26.07.2021 USD 21,421,133 RUB 1,590,894,000 (87,427) (0.03) Goldman Sachs 29.07.2021 USD 14,804,393 MXN 299,785,000 (104,644) (0.04) Goldman Sachs 02.06.2021 USD 5,162,488 BRL 27,800,000 (120,600) (0.04) UBS 29.07.2021 USD 11,802,470 ZAR 167,984,000 (205,047) (0.07) Goldman Sachs 29.07.2021 USD 23,186,099 CNH 150,039,000 (222,189) (0.08) JP Morgan 02.07.2021 USD 18,774,748 BRL 100,232,749 (281,921) (0.10) Barclays Bank 02.06.2021 USD 13,254,298 BRL 72,432,749 (452,713) (0.17)

Unrealised gain on forward currency contracts (30 November 2020: 2.70%) 548,246 0.20 Unrealised loss on forward currency contracts (30 November 2020: (1.55%)) (1,640,471) (0.60) Net unrealised loss on forward currency contracts (1,092,225) (0.40)

10 Insight Global Funds II PLC Insight Emerging Markets Debt Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

Value % of Net £ Assets

Total Financial Assets - Investment funds 12,873,682 4.69 Total Financial Assets - Transferable securities 223,984,832 81.69 Total Financial Assets - Derivative financial instruments 548,246 0.20 Total Financial Liabilities - Derivative financial instruments (1,681,343) (0.61) Total Cost of Investments £244,186,164 (2020: £271,222,111)

Cash at bank (30 November 2020: 6.25%) 48,508,464 17.69

Collateral and margin cash (30 November 2020: 0.60%) 2,404,691 0.88

Net current liabilities (30 November 2020: 0.48%) (12,435,133) (4.54)

Net assets attributable to holders of redeemable shares 274,203,439 100.00

% of Total Analysis of Total Assets Assets UCITS and AIFs 4.44 Transferable securities admitted to official stock exchange listing 77.33 Over the counter derivative financial instruments 0.19 Cash and Other Assets 18.04 100.00

Space

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11 Insight Global Funds II PLC Insight Global (ex-UK) Bond Fund Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Investment funds (30 November 2020: 2.87%) Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2^^ UCITS 7,790,114 5,489,281 6.61

Total value of investment funds 5,489,281 6.61

Corporate bonds (30 November 2020: 5.03%) Bank of America 4.20% Bonds 26.08.2024 150,000 116,927 0.14 Central Bank of Tunisia 6.38% Bonds 15.07.2026 150,000 122,518 0.15 Commerzbank 0.63% Bonds 28.08.2024 679,000 595,969 0.72 Daimler Finance North America 3.75% Bonds 05.11.2021 465,000 332,366 0.40 Euroclear Bank 0.13% Bonds 07.07.2025 192,000 166,170 0.20 NatWest Markets 1.00% Bonds 28.05.2024 470,000 417,358 0.50 SAP 0.25% Bonds 10.03.2022 900,000 776,954 0.94 Unilever 1.25% Bonds 25.03.2025 155,000 140,343 0.17 Waste Management 2.90% Bonds 15.09.2022 200,000 144,741 0.17 Wells Fargo 2.63% Bonds 16.08.2022 100,000 89,029 0.11

Total value of corporate bonds 2,902,375 3.50

Government bonds (30 November 2020: 91.01%) Australia (Commonwealth of) 2.25% Bonds 21.11.2022 1,700,000 953,802 1.15 Australia (Commonwealth of) 2.75% Bonds 21.11.2027 865,000 520,297 0.63 Australia (Commonwealth of) 3.00% Bonds 21.03.2047 160,000 94,476 0.11 Belgium (Kingdom of) 1.60% Bonds 22.06.2047 350,000 351,205 0.42 Belgium (Kingdom of) 4.25% Bonds 28.09.2022 870,000 796,826 0.96 Belgium (Kingdom of) 4.25% Bonds 28.03.2041 210,000 300,885 0.36 Belgium (Kingdom of) 5.50% Bonds 28.03.2028 120,000 144,265 0.17 Canada (Government of) 1.00% Bonds 01.06.2027 300,000 174,335 0.21 Canada (Government of) 4.00% Bonds 01.06.2041 475,000 372,618 0.45 City of New York 5.52% Bonds 01.10.2037 195,000 183,473 0.22 Denmark (Kingdom of) 4.50% Bonds 15.11.2039 650,000 130,965 0.16 Dominican Republic 6.88% Bonds 29.01.2026 100,000 82,338 0.10 Egypt (Arab Republic of) 6.20% Bonds 01.03.2024 788,000 599,244 0.72 Emirate of Abu Dhabi 2.50% Bonds 30.09.2029 500,000 368,576 0.44 European Union 0.00% Bonds 04.11.2025 442,000 386,922 0.47 France (Government of) 0.00% Bonds 25.11.2029 1,761,612 1,516,234 1.83 France (Government of) 0.50% Bonds 25.05.2025 1,060,000 947,775 1.14 France (Government of) 0.50% Bonds 25.05.2072 340,000 221,296 0.27 France (Government of) 0.75% Bonds 25.05.2052 990,000 799,741 0.96 France (Government of) 1.75% Bonds 25.05.2066 200,000 213,090 0.26 Iceland (Republic of) 0.10% Bonds 20.06.2024 350,000 302,552 0.36 Italy (Republic of) 0.00% Bonds 15.01.2024 710,000 613,460 0.74 Italy (Republic of) 0.25% Bonds 15.03.2028 2,040,000 1,725,058 2.08 Italy (Republic of) 0.35% Bonds 01.02.2025 6,950,000 6,059,798 7.30 Italy (Republic of) 0.50% Bonds 01.02.2026 3,740,000 3,270,308 3.94 Italy (Republic of) 1.45% Bonds 15.09.2022 1,866,000 1,641,498 1.98 Italy (Republic of) 1.80% Bonds 01.03.2041 1,050,000 932,056 1.12 Italy (Republic of) 3.45% Bonds 01.03.2048 587,000 679,535 0.82 Ivory Coast 4.88% Bonds 30.01.2032 100,000 87,093 0.10 Japan (Government of) 0.10% Bonds 20.09.2022 260,000,000 1,672,895 2.01 Japan (Government of) 0.10% Bonds 20.03.2023 125,000,000 805,331 0.97 Japan (Government of) 0.10% Bonds 20.06.2024 75,000,000 484,576 0.58 Japan (Government of) 0.10% Bonds 20.09.2024 200,000,000 1,292,617 1.56 Japan (Government of) 0.10% Bonds 20.12.2029 38,750,000 250,393 0.30 Japan (Government of) 0.10% Bonds 20.12.2030 490,000,000 3,154,120 3.80 Japan (Government of) 0.30% Bonds 20.06.2039 410,000,000 2,585,859 3.11 Japan (Government of) 0.30% Bonds 20.06.2046 160,000,000 962,940 1.16 Japan (Government of) 0.40% Bonds 20.06.2049 36,000,000 216,944 0.26 Japan (Government of) 0.40% Bonds 20.12.2049 158,000,000 948,266 1.14 Japan (Government of) 0.40% Bonds 20.03.2050 113,200,000 678,562 0.82

12 Insight Global Funds II PLC Insight Global (ex-UK) Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Government bonds (30 November 2020: 91.01%) (Continued) Japan (Government of) 0.50% Bonds 20.09.2024 237,000,000 1,551,930 1.87 Japan (Government of) 1.60% Bonds 20.06.2032 100,000,000 744,792 0.90 Japan (Government of) 2.10% Bonds 20.03.2027 50,000,000 361,383 0.44 Kenya (Republic of) 8.00% Bonds 22.05.2032 320,000 255,236 0.31 Mexico (Government of) 1.45% Bonds 25.10.2033 160,000 129,820 0.16 Romania (Government of) 2.00% Bonds 28.01.2032 250,000 215,599 0.26 Spain (Government of) 0.00% Bonds 31.01.2025 1,612,000 1,403,183 1.69 Spain (Government of) 0.80% Bonds 30.07.2027 1,400,000 1,264,173 1.52 Spain (Government of) 1.45% Bonds 31.10.2027 500,000 469,515 0.57 Spain (Government of) 1.95% Bonds 30.07.2030 500,000 491,348 0.59 Spain (Government of) 3.45% Bonds 30.07.2066 250,000 327,835 0.39 Sweden (Kingdom of) 0.13% Bonds 12.05.2031 3,500,000 287,990 0.35 US Treasury Bills 0.25% Bonds 15.06.2023 8,300,000 5,860,108 7.06 US Treasury Bills 0.25% Bonds 30.06.2025 6,000,000 4,171,566 5.02 US Treasury Bills 0.38% Bonds 15.04.2024 4,300,000 3,038,031 3.66 US Treasury Bills 0.38% Bonds 31.01.2026 1,510,000 1,046,415 1.26 US Treasury Bills 0.38% Bonds 31.07.2027 1,670,000 1,126,312 1.36 US Treasury Bills 0.63% Bonds 15.08.2030 4,270,000 2,769,193 3.34 US Treasury Bills 1.13% Bonds 29.02.2028 1,000,000 700,876 0.84 US Treasury Bills 1.13% Bonds 15.05.2040 8,920,000 5,245,406 6.32 US Treasury Bills 1.25% Bonds 15.05.2050 1,905,000 1,041,687 1.25 US Treasury Bills 1.38% Bonds 15.08.2050 860,000 485,874 0.58 US Treasury Bills 2.25% Bonds 15.08.2049 600,000 418,973 0.50 US Treasury Bills 2.38% Bonds 15.05.2029 610,000 461,325 0.56 US Treasury Bills 2.75% Bonds 15.02.2028 1,600,000 1,240,840 1.49 US Treasury Bills 3.00% Bonds 15.11.2044 1,850,000 1,482,383 1.79

Total value of government bonds 74,114,017 89.26

Mortgage backed securities (30 November 2020: 0.05%) Interstar Millennium Trust 0.59% MBS 14.03.2036 26,452 18,184 0.02 Interstar Millennium Trust 0.59% MBS 08.12.2036 27,213 19,154 0.02

Total value of mortgage backed securities 37,338 0.04

Total value of transferable securities 77,053,730 92.80

Forward currency contracts (30 November 2020: (0.11%))

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

Royal Bank of Scotland 11.06.2021 CNH 12,811,000 USD 1,982,547 21,485 0.03 BNP Paribas 11.06.2021 CAD 2,171,000 USD 1,768,489 20,151 0.02 JP Morgan 11.06.2021 EUR 175,000 USD 211,999 1,019 – JP Morgan 11.06.2021 EUR 408,000 USD 496,466 822 – BNP Paribas 11.06.2021 CAD 73,000 USD 59,268 817 – BNP Paribas 11.06.2021 DKK 1,978,000 EUR 265,975 – – Citigroup 11.06.2021 EUR 75,987 SEK 775,000 (461) – UBS 11.06.2021 AUD 505,000 USD 390,920 (1,126) – Morgan Stanley 11.06.2021 USD 288,732 EUR 240,000 (2,813) – BNP Paribas 11.06.2021 JPY 186,508,000 USD 1,706,440 (5,801) (0.01) Toronto Dominion Bank 11.06.2021 USD 720,000 GBP 517,315 (9,977) (0.01) HSBC Bank 11.06.2021 USD 720,000 GBP 517,323 (9,984) (0.01) JP Morgan 11.06.2021 USD 730,000 GBP 524,425 (10,039) (0.01) Citigroup 11.06.2021 USD 730,000 GBP 524,454 (10,069) (0.01) BNP Paribas 11.06.2021 USD 1,969,779 CNH 12,811,000 (30,482) (0.04)

13 Insight Global Funds II PLC Insight Global (ex-UK) Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

Forward currency contracts (30 November 2020: (0.11%)) (Continued)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

HSBC Bank 11.06.2021 USD 4,602,546 EUR 3,819,000 (39,063) (0.05)

Unrealised gain on forward currency contracts (30 November 2020: 0.06%) 44,294 0.05 Unrealised loss on forward currency contracts (30 November 2020: (0.17%)) (119,815) (0.14) Net unrealised loss on forward currency contracts (75,521) (0.09)

No. of Unrealised % of Net

Security Description FUTGL Contracts Gain/(Loss) £ WAssets

Futures contracts (30 November 2020: (0.13%)) Future Jun 2021 Euro-Btp Eux (15) 20,123 0.03 Future Jun 2021 Euro-Bobl Eux (67) 17,863 0.02 Future Sep 2021 10 Year T-Note 59 5,979 0.01 Future Jun 2021 Australian 10 Year T-Bond 8 5,251 0.01 Future Sep 2021 US 5 Year T-Note CBT 19 1,831 – Future Sep 2021 Canadian 10 Year Bond 5 1,259 – Future Sep 2021 US 10 Year Ultra CBT 6 898 – Future Sep 2021 US Ultra CBT (3) (1,536) – Future Jun 2021 Euro-Oat Eux 1 (1,572) – Future Sep 2021 US Long Bond CBT (5) (2,943) – Future Jun 2021 Euro-Buxl Eux 1 (6,618) (0.01) Future Sep 2021 Lif Long Gilt (23) (7,130) (0.01) Future Jun 2021 Euro-Bund Eux 15 (19,717) (0.03)

Unrealised gain on futures contracts (30 November 2020: 0.05%) 53,204 0.07 Unrealised loss on futures contracts (30 November 2020: (0.18%)) (39,516) (0.05) Net unrealised gain on futures contracts 13,688 0.02

Value % of Net £ Assets

Total Financial Assets - Investment funds 5,489,281 6.61 Total Financial Assets - Transferable securities 77,053,730 92.80 Total Financial Assets - Derivative financial instruments 97,498 0.12 Total Financial Liabilities - Derivative financial instruments (159,331) (0.19) Total Cost of Investments £87,246,094 (2020: £83,440,872)

Cash at bank (30 November 2020: 0.28%) 136,363 0.16

Collateral and margin cash (30 November 2020: 0.82%) 243,798 0.29

Net current assets (30 November 2020: 0.18%) 167,706 0.21

Net assets attributable to holders of redeemable shares 83,029,045 100.00

% of Total Analysis of Total Assets Assets UCITS and AIFs 6.60 Transferable securities admitted to official stock exchange listing 92.61 Derivative financial instruments dealt in on a regulated market 0.06 Over the counter derivative financial instruments 0.05 Cash and Other Assets 0.68 100.00

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^^Related party holdings.

14 Insight Global Funds II PLC Insight High Grade ABS Fund Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Investment funds (30 November 2020: 8.46%) Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2^^ UCITS 512,842,885 512,842,885 8.67

Total value of investment funds 512,842,885 8.67

Asset backed securities (30 November 2020: 38.91%) ABPCI Direct Lending Fund CLO I 2.03% ABS 20.10.2031 25,000,000 17,656,520 0.30 Accunia European CLO IV 1.90% ABS 20.04.2033 17,000,000 14,677,457 0.25 Adagio VI CLO 2.00% ABS 30.04.2031 9,500,000 8,243,990 0.14 AlbaCore Euro CLO II DAC 1.65% ABS 15.06.2034 11,600,000 10,008,766 0.17 Alme Loan Funding 5X 1.60% ABS 15.07.2031 25,000,000 21,460,289 0.36 Antares Class A CLO 1.75% ABS 20.01.2030 19,712,000 13,919,660 0.24 Antares Class A CLO 1.78% ABS 20.04.2033 10,000,000 7,039,583 0.12 Antares Class A CLO 1.96% ABS 23.01.2032 9,320,253 6,535,884 0.11 Antares Class A CLO 2.11% ABS 23.10.2031 40,000,000 28,285,360 0.48 Antares Class B CLO 1.97% ABS 20.01.2030 7,042,000 4,941,040 0.08 Antares Class B CLO 2.19% ABS 20.04.2033 20,000,000 14,146,969 0.24 Arbor Multifamily Mortgage Securities Trust 2020 2.76% ABS 15.05.2053 10,000,000 7,447,887 0.13 Arbor Multifamily Mortgage Securities Trust 2020 3.06% ABS 15.05.2053 7,857,000 5,896,092 0.10 Arbor Multifamily Mortgage Securities Trust 2020 3.72% ABS 15.05.2053 5,091,000 3,848,409 0.07 Arbor Realty Commercial 1.07% ABS 15.12.2035 5,000,000 3,532,846 0.06 Arbor Realty Commercial 1.34% ABS 15.06.2034 2,500,000 1,764,838 0.03 Arbor Realty Commercial 1.54% ABS 15.02.2035 10,000,000 7,067,529 0.12 Arbor Realty Commercial 1.64% ABS 15.06.2028 15,000,000 10,575,154 0.18 Arbor Realty Commercial 1.84% ABS 15.06.2028 5,300,000 3,723,248 0.06 Arbor Realty Commercial 1.94% ABS 15.02.2035 11,500,000 8,207,189 0.14 Arbour CLO II DAC 2.25% ABS 15.05.2030 12,000,000 10,416,020 0.18 Arbour CLO IV DAC 1.30% ABS 15.04.2034 14,000,000 12,060,751 0.20 Arbour CLO VII DAC 0.00% ABS 15.03.2033 12,000,000 10,326,558 0.17 Areit Trust 2.76% ABS 14.04.2037 5,903,631 4,247,157 0.07 Areit Trust 3.59% ABS 14.04.2037 3,187,000 2,353,651 0.04 Ares European CLO 1.50% ABS 15.10.2030 1,250,000 1,074,196 0.02 Ares European CLO 1.80% ABS 20.07.2032 12,000,000 10,315,082 0.17 Ares European CLO 2.40% ABS 20.04.2032 7,250,000 6,307,613 0.11 Aurium CLO I 1.75% ABS 23.03.2032 2,450,000 2,107,732 0.04 Avoca CLO XI DAC 'B-2R' 1.55% ABS 15.07.2030 6,500,000 5,596,577 0.09 Avoca CLO XVI DAC '16X B2' 1.70% ABS 15.07.2031 7,000,000 6,028,652 0.10 Azure Finance No.1 '1 B' 1.59% ABS 30.06.2027 2,115,156 2,117,006 0.04 Azure Finance No.2 '2 A' 1.15% ABS 20.07.2030 5,708,315 5,730,389 0.10 Azure Finance No.2 '2 B' 2.30% ABS 20.07.2030 10,000,000 10,056,620 0.17 Bain Capital Euro CLO 2017 2.15% ABS 17.10.2030 15,000,000 13,054,359 0.22 Bardin Hill Loan Advisors 1.85% ABS 20.07.2032 5,750,000 4,955,557 0.08 Barings Euro CLO 2015-1 1.75% ABS 25.10.2029 5,000,000 4,292,652 0.07 Barings Euro CLO 2020-1 1.70% ABS 21.04.2033 1,612,500 1,392,998 0.02 BlackRock Elbert CLO V 0.00% ABS 15.12.2031 28,000,000 19,774,984 0.33 BlackRock European CLO VII DAC 1.30% ABS 15.10.2031 8,000,000 6,917,618 0.12 BlackRock Rainier CLO VI 1.89% ABS 20.04.2033 25,000,000 17,589,813 0.30 Blue Mountain CLO 1.35% ABS 15.04.2034 5,625,000 4,854,308 0.08 Bosphorus CLO 5 2.25% ABS 12.12.2032 12,587,500 10,857,508 0.18 Cadogan Square CLO XII DAC 1.70% ABS 15.10.2031 7,725,000 6,634,094 0.11 Cairn CLO IV '4X BRER' 1.35% ABS 30.04.2031 22,750,000 19,637,063 0.33 Cairn CLO IX '9X B1' 1.00% ABS 25.04.2032 1,300,000 1,109,313 0.02 Cairn CLO VI '6X BRE' 1.65% ABS 25.07.2029 11,000,000 9,473,423 0.16 Cardiff Auto Receivables Securitisation 0.68% ABS 16.09.2025 4,937,427 4,945,233 0.08 Carlyle GMS 1.79% ABS 15.10.2031 20,000,000 14,067,699 0.24 Carlyle GMS 2.00% ABS 16.01.2033 24,000,000 20,828,994 0.35 Carlyle GMS Euro CLO 2014-3 DAC 1.10% ABS 25.01.2032 2,750,000 2,335,378 0.04 Carlyle GMS Euro CLO 2015-1 DAC 1.70% ABS 16.01.2033 9,900,000 8,529,869 0.14 Carlyle GMS Euro CLO 2015-3 DAC 1.90% ABS 15.07.2030 15,000,000 12,938,597 0.22 Carlyle GMS Euro CLO 2018-1 DAC 2.00% ABS 15.04.2031 20,000,000 17,338,302 0.29

15 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Asset backed securities (30 November 2020: 38.91%) (Continued) Carlyle GMS Euro CLO 2018-2 DAC 1.60% ABS 28.08.2031 5,000,000 4,294,643 0.07 Cerberus Loan Funding XIX 2.54% ABS 15.07.2029 5,000,000 3,529,989 0.06 Cerberus Loan Funding XVIII 1.99% ABS 15.04.2027 297,936 210,019 – Cerberus Loan Funding XVIII 2.59% ABS 15.04.2027 15,000,000 10,577,738 0.18 Cerberus Loan Funding XX 2.29% ABS 15.10.2029 2,900,000 2,047,098 0.03 Cerberus Loan Funding XXI 1.69% ABS 15.10.2027 2,215,758 1,561,295 0.03 Cerberus Loan Funding XXI 2.14% ABS 15.10.2027 9,000,000 6,344,223 0.11 Cerberus Loan Funding XXIV 1.68% ABS 15.07.2030 30,000,000 21,110,793 0.36 Cerberus Loan Funding XXIX 0.00% ABS 15.10.2032 38,000,000 26,885,284 0.45 Cerberus Loan Funding XXVIII 2.04% ABS 15.01.2032 21,916,000 15,498,506 0.26 Cerberus Loan Funding XXVIII 2.06% ABS 15.10.2031 33,500,000 23,664,848 0.40 Clontarf Park CLO 2.15% ABS 05.08.2030 10,000,000 8,704,453 0.15 Colt 2020-3 1.51% ABS 27.04.2065 3,732,843 2,648,663 0.04 Cork Street CLO 1.75% ABS 27.11.2028 25,000,000 21,462,814 0.36 Credit Acceptance Auto Loan 1.24% ABS 15.10.2029 18,000,000 12,843,723 0.22 Credit Acceptance Auto Loan 1.77% ABS 17.12.2029 12,000,000 8,621,414 0.15 CVC Cordatus Loan Fund IV DAC 1.30% ABS 22.02.2034 16,650,000 14,321,797 0.24 CVC Cordatus Loan Fund VI DAC 2.10% ABS 15.04.2032 14,250,000 12,388,599 0.21 CVC Cordatus Loan Fund VII DAC 1.25% ABS 15.09.2031 12,500,000 10,782,753 0.18 CVC Cordatus Loan Fund XI DAC 1.50% ABS 15.10.2031 7,250,000 6,214,068 0.10 Dowson 2019-1 1.35% ABS 20.09.2026 2,644,000 2,648,836 0.04 Dowson 2020-1 1.55% ABS 20.04.2027 11,557,982 11,648,632 0.20 Dowson 2021-1 0.90% ABS 20.03.2028 5,389,702 5,399,104 0.09 Dowson 2021-1 1.45% ABS 20.03.2028 4,685,000 4,695,295 0.08 Dryden 27 Euro CLO 2017 1.45% ABS 15.04.2033 28,500,000 24,581,395 0.42 Dryden 29 Euro CLO 2015 2.05% ABS 15.07.2032 14,275,000 12,388,998 0.21 Dryden 32 Euro CLO 2014 1.70% ABS 15.08.2031 4,650,000 3,988,916 0.07 Dryden 35 Euro CLO 2014 1.90% ABS 17.01.2033 9,900,000 8,518,864 0.14 Dryden 39 Euro CLO 2015 2.05% ABS 15.10.2031 19,825,000 17,249,973 0.29 Dryden 39 Euro CLO 2019 1.81% ABS 15.01.2034 15,700,000 13,520,790 0.23 Dryden 48 Euro CLO 2016 1.75% ABS 15.10.2032 2,000,000 1,722,431 0.03 Dryden 56 Euro CLO 2017 2.10% ABS 15.01.2032 41,850,000 36,377,349 0.62 Dryden 79 Euro CLO 2020 1.85% ABS 18.01.2034 4,200,000 3,610,655 0.06 E-Carat 11 1.25% ABS 18.05.2028 13,414,517 13,332,346 0.23 Euro-Galaxy III CLO 1.40% ABS 24.04.2034 9,637,000 8,258,190 0.14 Euro-Galaxy VII CLO 1.65% ABS 25.07.2035 13,458,000 11,615,587 0.20 Firstmac Mortgage Funding Trust Series 4-2019 2.54% ABS 14.02.2050 2,380,000 1,314,415 0.02 Fortress Credit Investments III 2.49% ABS 15.07.2028 18,012,634 12,711,918 0.21 Fortress Credit Investments IX 1.77% ABS 15.11.2029 30,000,000 21,101,317 0.36 GLG Euro CLO Series 3X Class III 1.50% ABS 15.10.2030 11,500,000 9,876,035 0.17 GLG Euro CLO Series 5X Class V 1.85% ABS 15.12.2031 5,200,000 4,464,371 0.08 Goldentree Loan Management EUR CLO 0.00% ABS 20.01.2032 5,000,000 4,360,525 0.07 Goldentree Loan Management EUR CLO 1.90% ABS 20.01.2032 5,000,000 4,304,931 0.07 Goldentree Loan Management EUR CLO 2.30% ABS 20.07.2031 10,000,000 8,606,253 0.15 Golub Capital CLO 17M 1.86% ABS 25.10.2030 36,000,000 25,342,940 0.43 Golub Capital CLO 17M 2.36% ABS 25.10.2030 19,000,000 13,412,656 0.23 Golub Capital CLO 21M 1.68% ABS 25.01.2031 18,000,000 12,639,909 0.21 Golub Capital CLO 21M 2.01% ABS 25.01.2031 7,000,000 4,916,519 0.08 Golub Capital CLO 45M 2.77% ABS 20.10.2031 20,000,000 14,092,837 0.24 Golub Capital CLO 47M 0.00% ABS 05.05.2032 8,500,000 5,995,635 0.10 Golub Capital CLO 49M 2.78% ABS 20.07.2032 26,718,751 18,893,787 0.32 Gosforth Funding 2017-1 0.56% ABS 19.12.2059 20,000,000 20,099,280 0.34 Grand Harbour CLO 2019-1 2.60% ABS 15.03.2032 7,000,000 6,099,492 0.10 Great Lakes CLO 2021-5 1.90% ABS 15.04.2033 8,571,428 6,027,538 0.10 Griffith Park CLO DAC 1.60% ABS 21.11.2031 16,500,000 14,238,962 0.24 Guggenheim MM CLO 2019-2 2.04% ABS 05.12.2031 30,000,000 21,202,832 0.36 Halcyon Loan Advisors 1.90% ABS 20.10.2031 9,000,000 7,711,921 0.13 Harvest CLO IX 2.15% ABS 15.02.2030 25,000,000 21,751,430 0.37 Harvest CLO VII 1.50% ABS 12.04.2031 2,000,000 1,717,266 0.03

16 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Asset backed securities (30 November 2020: 38.91%) (Continued) Harvest CLO VIII 2.00% ABS 15.01.2031 10,000,000 8,690,207 0.15 Harvest CLO X 0.99% ABS 15.11.2028 17,300,000 14,884,200 0.25 Harvest CLO XI 2.15% ABS 26.06.2030 10,000,000 8,689,636 0.15 Harvest CLO XII 1.35% ABS 18.11.2030 2,950,000 2,530,008 0.04 Harvest CLO XII 2.05% ABS 18.11.2030 10,000,000 8,679,834 0.15 Harvest CLO XIV 1.80% ABS 18.11.2029 5,000,000 4,299,160 0.07 Harvest CLO XIX 2.05% ABS 14.04.2031 5,000,000 4,339,688 0.07 Harvest CLO XVI 1.30% ABS 15.10.2031 14,250,000 12,293,759 0.21 Harvest CLO XXI 1.60% ABS 15.07.2031 10,680,000 9,175,534 0.16 Harvest CLO XXIII 2.00% ABS 20.10.2032 12,500,000 10,863,789 0.18 Hayfin Emerald CLO II DAC 1.70% ABS 27.05.2034 17,441,000 14,986,736 0.25 Hayfin Emerald CLO IV DAC 2.30% ABS 15.02.2033 6,375,000 5,505,550 0.09 Henley CLO IV DAC 1.35% ABS 25.04.2034 5,800,000 5,003,018 0.08 Hunt CRE 2018 1.22% ABS 15.08.2028 3,000,000 2,113,589 0.04 Invesco Euro CLO I 1.25% ABS 15.07.2031 30,000,000 25,763,298 0.44 Invesco Euro CLO I 1.95% ABS 15.04.2033 10,000,000 8,667,578 0.15 Invesco Euro CLO II 2.60% ABS 15.08.2032 4,500,000 3,922,097 0.07 Invesco Euro CLO IV 1.70% ABS 15.04.2033 6,000,000 5,148,891 0.09 Ivy Hill Middle Market Credit Fund IX 1.97% ABS 18.01.2030 10,000,000 6,944,933 0.12 Ivy Hill Middle Market Credit Fund X 1.67% ABS 18.07.2030 6,000,000 4,178,378 0.07 Ivy Hill Middle Market Credit Fund X 2.02% ABS 18.07.2030 6,000,000 4,177,116 0.07 Ivy Hill Middle Market Credit Fund XII 2.47% ABS 20.07.2029 18,956,000 13,263,652 0.22 Ivy Hill Middle Market Credit Fund XIV 1.92% ABS 18.04.2030 17,000,000 11,983,203 0.20 Jubilee CLO 2013-X 1.70% ABS 20.05.2034 24,110,000 20,717,287 0.35 Jubilee CLO 2014-XIV 1.09% ABS 15.01.2028 10,640,000 9,151,300 0.15 Jubilee CLO 2015-XV 0.84% ABS 12.07.2028 15,000,000 12,837,921 0.22 Jubilee CLO 2018-XXI 1.40% ABS 15.04.2035 4,000,000 3,438,626 0.06 Kref 2018-1 Class B 1.74% ABS 15.06.2036 17,000,000 12,040,445 0.20 Latitude Australia Credit Card Loan Note Trust 1.46% ABS 22.09.2025 12,500,000 6,884,946 0.12 Latitude Australia Credit Card Loan Note Trust 1.51% ABS 22.03.2032 15,200,000 8,332,503 0.14 Latitude Australia Credit Card Loan Note Trust 1.76% ABS 22.08.2031 20,000,000 10,984,353 0.19 Latitude Australia Credit Card Loan Note Trust 1.77% ABS 17.01.2028 4,148,966 2,260,734 0.04 Latitude Australia Credit Card Loan Note Trust 1.87% ABS 22.09.2025 4,000,000 2,206,507 0.04 Latitude Australia Credit Card Loan Note Trust 2.01% ABS 22.03.2032 6,300,000 3,465,821 0.06 Latitude Australia Credit Card Loan Note Trust 2.32% ABS 22.08.2031 9,000,000 4,948,166 0.08 Latitude Australia Personal Loans 1.22% ABS 17.01.2028 5,373,854 2,930,003 0.05 Loancore 2018-CRE1 1.84% ABS 15.05.2028 9,791,000 6,919,956 0.12 London Wall Mortgage Capital 0.90% ABS 15.11.2049 6,076,134 6,092,287 0.10 Marketplace Originated Consumer Assets 2019-1 0.00% ABS 20.12.2028 6,597,221 6,571,004 0.11 MCF CLO IV 1.77% ABS 20.10.2029 13,500,000 9,504,855 0.16 MCF CLO IV 2.22% ABS 20.10.2029 12,000,000 8,312,573 0.14 MCF CLO IX 2.17% ABS 17.07.2031 8,000,000 5,652,841 0.10 MCF CLO IX 2.62% ABS 17.07.2031 8,250,000 5,812,858 0.10 MCF CLO VII 0.00% ABS 20.07.2033 3,000,000 2,113,941 0.04 MCF CLO VII 0.00% ABS 20.07.2033 8,000,000 5,637,177 0.10 MCF CLO VII 1.82% ABS 20.10.2029 8,000,000 5,632,583 0.10 MCF CLO VII 2.27% ABS 20.10.2029 3,000,000 2,110,719 0.04 MCF CLO VIII 1.59% ABS 18.07.2030 12,000,000 8,420,216 0.14 MCF CLO VIII 1.97% ABS 18.07.2030 15,695,000 10,915,975 0.18 MCF CLO VIII 2.62% ABS 18.07.2030 5,800,000 4,090,025 0.07 MF1 2020-FL4 2.25% ABS 15.11.2035 12,950,000 9,294,580 0.16 MF1 2020-FL4 2.85% ABS 15.11.2035 12,236,000 8,978,590 0.15 New Mountain CLO I 1.79% ABS 15.10.2032 19,500,000 13,781,792 0.23 Newday Funding 2018-1 '1X A2' 0.79% ABS 15.08.2026 20,000,000 20,010,880 0.34 Newday Funding 2018-2 '2X B' 1.69% ABS 15.12.2026 10,500,000 10,524,958 0.18 Newday Funding 2019-1 '1X B' 1.95% ABS 15.06.2027 7,000,000 7,035,084 0.12 Newday Funding 2021-1 '1X A1' 1.02% ABS 15.03.2029 6,017,000 6,027,740 0.10 Newday Funding 2021-1 '1X B' 1.60% ABS 15.03.2029 6,054,000 6,067,649 0.10 Newday Partnership Funding 2017-1 '1 A' 0.79% ABS 15.12.2027 10,000,000 9,982,600 0.17

17 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Asset backed securities (30 November 2020: 38.91%) (Continued) Newday Partnership Funding 2017-1 '1 B' 1.39% ABS 15.12.2027 7,347,000 7,372,369 0.12 Newday Partnership Funding 2017-1 '1 C' 1.79% ABS 15.12.2027 10,000,000 9,999,740 0.17 Newday Partnership Funding 2020-1 '1 X' 1.45% ABS 15.11.2028 31,649,000 32,039,739 0.54 NXT Capital CLO 2017-1 0.00% ABS 20.07.2033 18,000,000 12,683,775 0.21 NXT Capital CLO 2017-1 1.92% ABS 20.04.2029 9,333,333 6,587,749 0.11 Oak Hill European Credit Partners III 2.00% ABS 22.07.2030 15,000,000 12,969,786 0.22 Oak Hill European Credit Partners IV 1.20% ABS 20.01.2032 7,000,000 5,977,922 0.10 Oak Street Investment Grade '1A A1' 1.48% ABS 20.01.2051 3,469,510 2,455,309 0.04 OCP Euro CLO 2017-1 1.80% ABS 15.07.2032 7,700,000 6,630,491 0.11 OFSI BSL CLO '1A B' 1.68% ABS 16.08.2029 20,000,000 14,092,889 0.24 Orbita Funding 2020-1 0.63% ABS 17.03.2027 9,988,707 10,022,429 0.17 Owl Rock CLO III 2019-1 2.22% ABS 20.04.2032 12,500,000 8,841,223 0.15 Owl Rock CLO III 2019-2 2.02% ABS 20.04.2032 12,500,000 8,781,750 0.15 Owl Rock CLO IV 2020-4 3.17% ABS 20.05.2029 13,141,000 9,291,631 0.16 PCL Funding III 0.69% ABS 15.06.2023 26,000,000 26,006,162 0.44 PCL Funding IV 1.10% ABS 15.09.2024 17,900,000 18,006,093 0.30 PCL Funding V 0.80% ABS 15.10.2025 11,190,000 11,203,484 0.19 Penarth Master Issuer 0.57% ABS 18.03.2025 5,266,000 5,287,201 0.09 Penta CLO 7 1.95% ABS 25.01.2033 3,000,000 2,598,754 0.04 Penta CLO 8 0.00% ABS 15.01.2034 7,500,000 6,481,879 0.11 Pepper Asset Finance 0.00% ABS 30.04.2027 1,180,169 638,390 0.01 Pepper I-Prime 2018-2 Trust 1.17% ABS 13.03.2050 2,985,936 1,637,871 0.03 Pepper Residential Securities Trust No.26 2.42% ABS 12.06.2062 2,409,831 1,343,806 0.02 Pepper Residential Securities Trust No.26 3.12% ABS 12.06.2062 11,200,000 6,374,672 0.11 Pepper Residential Securities Trust No.29 1.11% ABS 14.10.2062 2,850,000 1,551,229 0.03 Pepper Residential Securities Trust No.29 1.51% ABS 14.10.2062 4,000,000 2,185,213 0.04 Progress Residential 2.08% ABS 18.06.2037 3,276,000 2,364,939 0.04 Progress Residential 2.58% ABS 18.06.2037 1,346,000 973,349 0.02 RIN II '1A A' 1.90% ABS 10.09.2030 10,000,000 7,041,891 0.12 Rockford Tower Europe CLO 2.20% ABS 20.01.2033 5,000,000 4,349,933 0.07 SC Germany SA Compartment Consumer 2020-1B 0.00% ABS 14.11.2034 11,800,000 10,229,910 0.17 SC Germany SA Compartment Consumer 2020-1C 0.00% ABS 14.11.2034 7,100,000 6,132,279 0.10 Sorrento Park CLO 2.30% ABS 16.11.2027 20,000,000 17,372,977 0.29 Sound Point Euro CLO III B1 1.75% ABS 15.04.2033 9,091,000 7,865,068 0.13 Sound Point Euro CLO III B2 2.00% ABS 15.04.2033 6,000,000 5,216,014 0.09 St Paul's CLO III 2.05% ABS 15.01.2032 11,000,000 9,521,165 0.16 St Paul's CLO IV 2.05% ABS 25.04.2030 13,000,000 11,284,169 0.19 TCP Whitney CLO 1.90% ABS 20.08.2029 16,500,000 11,622,991 0.20 TCP Whitney CLO 2.47% ABS 20.08.2029 11,650,000 8,208,647 0.14 TIAA Churchill Middle Market CLO II CL A 1.71% ABS 24.01.2030 12,500,000 8,791,299 0.15 TIAA Churchill Middle Market CLO II CL A 1.96% ABS 23.01.2032 5,000,000 3,506,448 0.06 TIAA Churchill Middle Market CLO II CL B 2.01% ABS 24.01.2030 6,500,000 4,534,429 0.08 TIAA Churchill Middle Market CLO II CL B 2.76% ABS 23.01.2032 7,500,000 5,284,822 0.09 Together 1.22% ABS 12.07.2050 13,313,058 13,375,915 0.23 Together 1.45% ABS 20.03.2053 19,670,813 19,715,289 0.33 Together 1.50% ABS 15.12.2061 24,054,605 24,393,980 0.41 Together 1.55% ABS 12.03.2049 2,300,000 2,304,101 0.04 Together 1.69% ABS 12.07.2050 5,500,000 5,539,031 0.09 Together 2.30% ABS 15.12.2061 4,002,000 4,079,571 0.07 Toro European CLO 1 2.20% ABS 15.07.2030 13,000,000 11,311,863 0.19 TPG Real Estate Finance Issuer 1.27% ABS 15.11.2037 23,794,734 16,829,142 0.28 TPG Real Estate Finance Issuer 1.50% ABS 15.03.2038 25,000,000 17,693,579 0.30 TPG Real Estate Finance Issuer 1.59% ABS 15.09.2034 15,000,000 10,629,350 0.18 TPG Real Estate Finance Issuer 1.89% ABS 15.09.2034 20,000,000 14,185,819 0.24 Tricon American Homes 2020-SFR1 1.50% ABS 17.07.2038 15,485,962 10,928,303 0.18 Turbo Finance 9 0.88% ABS 20.08.2028 20,300,000 20,414,147 0.35 Tymon Park CLO 1.65% ABS 21.01.2029 7,500,000 6,416,003 0.11 Voya Euro CLO IV 0.00% ABS 15.01.2034 6,750,000 5,827,633 0.10

18 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Asset backed securities (30 November 2020: 38.91%) (Continued) Woodmont 2017-1 Trust 2.22% ABS 18.10.2032 40,000,000 28,147,717 0.48 Woodmont 2017-2 Trust 0.00% ABS 20.04.2033 28,000,000 19,709,998 0.33 Woodmont 2018-5 Trust 1.81% ABS 25.07.2030 10,625,000 7,474,373 0.13 Woodmont 2018-5 Trust 2.31% ABS 25.07.2030 9,500,000 6,694,107 0.11

Total value of asset backed securities 2,220,222,482 37.54

Corporate bonds (30 November 2020: 0.12%) Elm Park CLO DAC 1.63% Bonds 15.04.2034 15,000,000 12,897,813 0.22 E-MAC NL 1.65% Bonds 25.07.2038 6,869,780 5,867,706 0.10

Total value of corporate bonds 18,765,519 0.32

Floating rate loan participations (30 November 2020: 1.20%) 311 South Waker Term Loan 4.24% 21.06.2021 21,857,497 15,398,742 0.26 Aura Finance 2.93% 28.11.2021 13,500,000 13,250,925 0.23 Project Jura Loan 3.18% 25.01.2022 1,154,847 1,149,939 0.02 Swancastle Walnut Term Loan 2.85% 20.12.2035 19,601,803 19,699,812 0.33

Total value of floating rate loan participations 49,499,418 0.84

Floating rate notes (30 November 2020: 0.45%) Berg Finance Series 2021-1 Class A 1.05% FRN 22.07.2033 12,766,000 10,989,783 0.18 BNP Paribas Asset Management 1.25% FRN 15.04.2031 14,675,000 12,583,930 0.21 Canterbury Finance 1.40% FRN 16.05.2056 20,000,000 20,245,390 0.34 Interstar Millennium Trust 1.47% FRN 27.07.2038 1,385,798 948,396 0.02 Monroe Capital 2.73% FRN 20.08.2031 20,000,000 14,157,150 0.24 Monroe Capital 2.96% FRN 22.05.2031 12,500,000 8,808,107 0.15 Newhaven CLO DAC 1.70% FRN 15.02.2034 21,050,000 18,087,885 0.31 Northwoods Capital 1.75% FRN 25.11.2033 2,000,000 1,727,413 0.03 Palmer Square European CLO 2021-1 BE 1.35% FRN 15.04.2034 15,000,000 12,940,902 0.22 Primrose Residential 2021-1B 0.79% FRN 24.03.2061 15,182,000 13,108,244 0.22 Richmond Park CLO I DAC '1X B1RN' 1.50% FRN 14.07.2031 931,000 801,964 0.01 RRE 1 Loan Management DAC 1.35% FRN 15.04.2035 23,636,000 20,513,087 0.35 RRE 3 Loan Management DAC 1.60% FRN 15.07.2032 2,600,000 2,251,912 0.04 RRE 6 Loan Management DAC 1.40% FRN 15.04.2035 14,400,000 12,423,835 0.21 Ruby Bond Trust 2020-1 A 1.83% FRN 12.09.2051 7,279,403 3,986,272 0.07 Ruby Bond Trust 2020-1 B 2.53% FRN 12.09.2051 2,612,000 1,445,574 0.02 Sculptor European CLO I DAC 1.60% FRN 18.04.2034 14,000,000 12,025,905 0.20 Sculptor European CLO II DAC 1.70% FRN 15.04.2034 19,000,000 16,393,566 0.28 Starwood Property Trust 1.38% FRN 18.04.2038 12,000,000 8,476,754 0.14

Total value of floating rate notes 191,916,069 3.24

Government bonds (30 November 2020: 0.00%) Japan (Government of) 0.70% Bonds 24.11.2057 2,000,000 1,724,262 0.03

Total value of government bonds 1,724,262 0.03

Mortgage backed securities (30 November 2020: 50.64%) AFG Series 2020-1 1.89% MBS 10.04.2052 18,100,000 10,041,816 0.17 AFG Series 2020-1 2.07% MBS 10.01.2052 3,000,000 1,662,858 0.03 Alba 0.22% MBS 17.03.2039 8,386,890 8,117,524 0.14 Alba 0.26% MBS 25.11.2042 4,703,180 4,634,998 0.08 Alba 0.28% MBS 15.12.2038 11,213,553 10,828,637 0.18 Alba 0.29% MBS 17.03.2039 21,448,560 20,245,929 0.34 Apollo Series 2013-1 Trust 1.76% MBS 24.06.2044 2,961,947 1,628,773 0.03 Apollo Series 2018-1 Trust 1.17% MBS 13.10.2049 18,649,187 10,234,207 0.17 Apollo Series 2018-1 Trust 1.72% MBS 13.10.2049 8,858,364 4,889,663 0.08

19 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 50.64%) (Continued) Arrow CMBS 2018 DAC 1.10% MBS 22.05.2030 9,070,552 7,829,048 0.13 Atlas Funding Series 2021-1 0.95% MBS 25.07.2058 8,162,000 8,210,050 0.14 Aurium CLO I 1.75% MBS 23.03.2032 3,000,000 2,580,896 0.04 AyT Genova Hipotecario 0.00% MBS 15.07.2039 1,318,160 942,173 0.02 BAMS CMBS 2018-1 DAC '1 A' 1.05% MBS 17.05.2028 8,052,000 8,050,583 0.14 BAMS CMBS 2018-1 DAC '1 B' 1.70% MBS 17.05.2028 14,600,000 14,602,584 0.25 Bosphorus CLO 4 2.20% MBS 15.12.2030 10,000,000 8,675,797 0.15 Cairn CLO V '5X B2RE' 2.00% MBS 20.07.2030 7,000,000 6,063,962 0.10 Cairn CLO VIII '8X B2NE' 2.05% MBS 30.10.2030 10,000,000 8,663,912 0.15 Canada Square Funding 2019-1 1.16% MBS 17.10.2051 24,833,366 24,997,888 0.42 Canada Square Funding 2020-1 1.26% MBS 17.12.2056 16,314,375 16,558,846 0.28 Canada Square Funding 2020-1B 1.86% MBS 17.12.2056 9,000,000 9,140,508 0.15 Canada Square Funding 2020-2 1.31% MBS 17.12.2057 8,555,008 8,675,445 0.15 Castell 2018-1 A 1.19% MBS 25.01.2046 2,591,847 2,598,984 0.04 Castell 2018-1 B 1.70% MBS 25.01.2046 8,041,011 8,070,582 0.14 Castell 2018-1 C 1.95% MBS 25.01.2046 3,640,295 3,653,695 0.06 Castell 2019-1 A 1.33% MBS 15.07.2052 4,972,580 4,995,824 0.08 Castell 2019-1 B 1.90% MBS 15.07.2052 4,028,000 4,066,048 0.07 Castell 2020-1 A 1.32% MBS 25.09.2052 15,673,445 15,756,271 0.27 Challenger Millennium Series 0.42% MBS 07.12.2038 1,933,103 1,018,394 0.02 Challenger Millennium Series 1E AB 0.00% MBS 07.04.2038 2,664,956 2,275,789 0.04 Challenger Millennium Series 1E B 0.00% MBS 07.04.2038 4,550,000 3,673,157 0.06 Challenger Millennium Series 2L AB 0.00% MBS 07.12.2038 2,425,707 1,135,209 0.02 Ciel No.1 1.11% MBS 12.06.2046 6,517,855 6,542,936 0.11 Ciel No.1 1.46% MBS 12.06.2046 4,100,000 4,102,382 0.07 Clavis Securities 0.00% MBS 15.12.2040 1,543,332 1,278,326 0.02 Clavis Securities 0.26% MBS 15.12.2032 1,991,398 1,908,979 0.03 Clavis Securities 0.33% MBS 15.12.2040 1,991,398 1,896,644 0.03 Cordusio RMBS Securitisation 0.00% MBS 31.12.2040 21,000,000 17,897,439 0.30 Cordusio RMBS Securitisation 0.00% MBS 31.12.2049 13,400,000 11,291,713 0.19 CSAIL Commercial Mortgage Trust 1.24% MBS 15.07.2022 8,375,073 5,870,898 0.10 Dilosk Rmbs No.2 DAC '2 C' 1.49% MBS 20.12.2057 3,705,000 3,201,207 0.05 Domi 2020-1 0.29% MBS 15.04.2052 7,609,303 6,583,914 0.11 Domi 2020-1B 0.79% MBS 15.04.2052 11,000,000 9,545,573 0.16 Domi 2020-2 0.38% MBS 15.11.2052 11,218,292 9,730,655 0.16 Domi 2020-2B 1.00% MBS 15.11.2052 7,500,000 6,561,152 0.11 Domi 2021-1 0.00% MBS 15.06.2053 7,700,000 6,640,555 0.11 Domi 2021-1B 0.00% MBS 15.06.2053 4,842,000 4,161,683 0.07 Dublin Bay Securities 1.26% MBS 28.09.2051 13,036,350 10,828,552 0.18 Dukinfield 2 A 1.31% MBS 20.12.2052 2,737,172 2,742,379 0.05 Elstree Funding No.1 1.45% MBS 20.12.2053 23,494,781 23,715,902 0.40 E-MAC NL 1.75% MBS 25.07.2036 2,439,680 2,076,160 0.03 E-MAC NL 2.34% MBS 25.04.2038 5,635,746 4,857,910 0.08 E-MAC NL 2.77% MBS 25.01.2037 1,234,770 1,052,977 0.02 E-MAC Program 0.00% MBS 25.07.2047 3,483,270 2,385,740 0.04 EMF-UK 2008-1 1.36% MBS 13.03.2046 5,944,459 5,948,103 0.10 Eurosail 2006-1 0.00% MBS 10.06.2044 10,197,000 8,711,545 0.15 Eurosail 2006-1 0.32% MBS 10.06.2044 3,216,000 3,184,244 0.05 Eurosail 2006-3 0.00% MBS 10.09.2044 11,277,409 9,655,079 0.16 Eurosail 2006-4 0.00% MBS 10.12.2044 15,003,139 12,609,193 0.21 Eurosail 2007-2NP 0.31% MBS 13.03.2045 7,750,000 7,086,267 0.12 Eurosail-NL 2007-2 0.99% MBS 17.10.2040 4,975,834 4,306,908 0.07 Eurosail-UK 2007-2NP 0.00% MBS 13.03.2045 3,415,000 2,719,014 0.05 Eurosail-UK 2007-2NP 0.21% MBS 13.03.2045 4,785,391 4,727,913 0.08 Eurosail-UK 2007-4BL A4 1.01% MBS 13.06.2045 14,273,200 14,140,880 0.24 Eurosail-UK 2007-4BL A5 1.01% MBS 13.06.2045 1,515,100 1,482,954 0.02 Finsbury Square 2018-2 A 1.01% MBS 12.09.2068 2,975,159 2,985,325 0.05 Finsbury Square 2018-2 B 1.51% MBS 12.09.2068 12,000,000 12,046,188 0.20 Finsbury Square 2019-1 A 1.46% MBS 16.06.2069 13,023,109 13,069,784 0.22

20 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 50.64%) (Continued) Finsbury Square 2019-1 B 1.65% MBS 16.06.2069 9,218,000 9,261,113 0.16 Finsbury Square 2019-2 A 1.09% MBS 16.12.2069 20,304,825 20,424,613 0.35 Finsbury Square 2019-2 B 1.86% MBS 16.12.2069 9,499,989 9,588,600 0.16 Finsbury Square 2019-3 A 1.07% MBS 16.12.2069 13,078,901 13,172,762 0.22 Finsbury Square 2019-3 B 2.46% MBS 16.12.2069 11,862,000 11,990,353 0.20 Finsbury Square 2020-1 A 0.86% MBS 16.03.2070 13,995,977 14,054,606 0.24 Finsbury Square 2020-1 B 1.16% MBS 16.03.2070 4,749,124 4,751,095 0.08 Finsbury Square 2020-2 A 1.36% MBS 16.06.2070 5,518,597 5,583,192 0.09 Firstmac Mortgage Funding Trust Series 1-2014 1.21% MBS 25.02.2051 10,328,820 5,636,441 0.10 Firstmac Mortgage Funding Trust Series 1-2014 1.76% MBS 26.09.2045 5,225,013 2,856,911 0.05 Firstmac Mortgage Funding Trust Series 1-2018 1.52% MBS 08.03.2049 3,560,408 1,955,139 0.03 Firstmac Mortgage Funding Trust Series 1-2019 2.14% MBS 14.02.2050 8,000,000 4,406,214 0.07 Firstmac Mortgage Funding Trust Series 1-2019 2.84% MBS 15.07.2031 3,000,000 2,123,022 0.04 Firstmac Mortgage Funding Trust Series 2-2013 2.11% MBS 25.11.2044 5,246,911 2,885,772 0.05 Firstmac Mortgage Funding Trust Series 2-2014 1.77% MBS 19.12.2045 5,588,209 3,064,696 0.05 Firstmac Mortgage Funding Trust Series 2-2020 1.27% MBS 15.01.2052 6,035,470 3,295,919 0.06 Firstmac Mortgage Funding Trust Series 2-2020 2.27% MBS 15.01.2052 2,500,000 1,419,869 0.02 Firstmac Mortgage Funding Trust Series 3-2012 3.06% MBS 21.12.2043 1,917,802 1,052,697 0.02 Firstmac Mortgage Funding Trust Series 3-2020 1.66% MBS 26.10.2051 3,695,982 2,050,417 0.03 Firstmac Mortgage Funding Trust Series 3-2020 2.16% MBS 26.10.2051 4,000,000 2,239,035 0.04 FROSN-2018 DAC '1 A1' 0.75% MBS 21.01.2028 7,377,901 6,353,479 0.11 Gemgarto 2018-1 1.49% MBS 16.09.2065 3,999,065 4,005,440 0.07 Genesis Mortgage Funding 2019-1 A 1.59% MBS 15.06.2056 14,786,640 14,881,570 0.25 Genesis Mortgage Funding 2019-1 B 2.19% MBS 15.06.2056 8,976,955 9,028,092 0.15 Great Hall Mortgages 0.00% MBS 18.03.2039 4,000,000 3,282,101 0.06 Great Hall Mortgages 0.29% MBS 18.03.2039 12,000,000 11,444,634 0.19 Great Hall Mortgages 0.31% MBS 18.06.2038 3,000,000 2,845,875 0.05 Great Hall Mortgages 0.35% MBS 18.06.2039 17,720,000 16,759,000 0.28 Great Hall Mortgages 0.51% MBS 18.06.2038 9,500,000 8,844,642 0.15 Hawksmoor Mortgage Funding 2019-1 'B' 1.81% MBS 25.05.2053 24,000,000 24,173,844 0.41 Helios No.37 A 1.55% MBS 02.05.2030 20,851,643 20,840,404 0.35 Hera Commercial Mortgage 1.40% MBS 18.02.2038 9,249,000 6,552,297 0.11 Heritage Trust 1.67% MBS 15.09.2045 3,636,310 1,999,467 0.03 Hops Hill No.1 1.00% MBS 27.05.2054 11,817,323 11,935,981 0.20 IDOL Trust Series 1.47% MBS 17.06.2045 3,885,897 2,111,691 0.04 IDOL Trust Series 1.71% MBS 23.12.2044 5,755,911 3,145,881 0.05 Interstar Millennium Trust 0.16% MBS 07.05.2036 686,033 580,272 0.01 Interstar Millennium Trust 0.18% MBS 07.05.2036 402,926 323,233 0.01 Interstar Millennium Trust 0.41% MBS 14.11.2036 502,905 474,444 0.01 Interstar Millennium Trust 0.46% MBS 07.09.2039 3,347,253 1,732,393 0.03 Interstar Millennium Trust 0.47% MBS 27.03.2038 2,035,568 1,047,125 0.02 Interstar Millennium Trust 0.52% MBS 07.09.2039 4,083,106 1,968,858 0.03 Interstar Millennium Trust 0.52% MBS 07.11.2039 1,024,573 534,999 0.01 Interstar Millennium Trust 0.55% MBS 27.05.2038 3,131,893 2,130,005 0.04 Interstar Millennium Trust 0.56% MBS 27.07.2038 1,000,710 508,215 0.01 Interstar Millennium Trust 0.66% MBS 27.07.2038 454,886 210,573 – Interstar Millennium Trust 0.73% MBS 27.09.2035 542,929 381,125 0.01 Kantoor Finance 2018 DAC '1 A' 0.72% MBS 22.08.2030 1,386,444 1,191,500 0.02 La Trobe Financial Capital Markets Trust 2017-2 1.92% MBS 12.01.2049 2,435,713 1,327,317 0.02 La Trobe Financial Capital Markets Trust 2017-2 2.42% MBS 12.01.2049 10,304,250 5,622,194 0.09 La Trobe Financial Capital Markets Trust 2018-1 1.67% MBS 11.07.2049 22,032,331 12,030,412 0.20 La Trobe Financial Capital Markets Trust 2018-1 2.02% MBS 11.07.2049 2,796,718 1,529,755 0.03 La Trobe Financial Capital Markets Trust 2018-2 2.02% MBS 12.03.2050 4,765,241 2,615,899 0.04 La Trobe Financial Capital Markets Trust 2018-2 2.37% MBS 12.03.2050 5,100,000 2,812,383 0.05 La Trobe Financial Capital Markets Trust 2019-1 2.22% MBS 13.08.2050 5,910,000 3,279,280 0.06 La Trobe Financial Capital Markets Trust 2019-2 1.87% MBS 11.02.2051 4,000,000 2,209,147 0.04 La Trobe Financial Capital Markets Trust 2019-2 2.22% MBS 11.02.2051 6,270,000 3,473,635 0.06 La Trobe Financial Capital Markets Trust 2020-1 1.84% MBS 13.01.2052 50,000,000 27,694,329 0.47 La Trobe Financial Capital Markets Trust 2020-1 A 2.77% MBS 12.03.2052 21,823,360 12,328,020 0.21

21 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 50.64%) (Continued) La Trobe Financial Capital Markets Trust 2020-1 B 3.52% MBS 12.03.2052 11,710,000 6,713,386 0.11 Lanark Master Issuer 2017-1 0.73% MBS 22.12.2069 19,000,000 19,103,170 0.32 Lanark Master Issuer 2018-2 0.68% MBS 22.12.2069 17,000,000 17,142,018 0.29 Lanebrook Mortgage Transaction 2020-1 1.15% MBS 12.06.2057 17,302,785 17,430,289 0.29 Lanebrook Mortgage Transaction 2020-1B 1.90% MBS 12.06.2057 4,000,000 4,047,440 0.07 Liberty Funding Party Limited 1.67% MBS 10.10.2049 26,397,012 14,406,150 0.24 Liberty Funding Party Limited 1.82% MBS 10.10.2049 13,858,431 7,563,229 0.13 Liberty Funding Party Limited 1.86% MBS 25.12.2051 50,000,000 27,665,674 0.47 Liberty Funding Party Limited 2.02% MBS 10.09.2052 36,000,000 20,048,451 0.34 Liberty Funding Party Limited 2.26% MBS 25.12.2051 19,768,000 10,968,183 0.19 Liberty Series 2017-3 Trust 1.37% MBS 10.04.2049 2,190,461 1,190,903 0.02 Liberty Series 2017-3 Trust 2.12% MBS 10.04.2049 26,910,386 14,636,768 0.25 Liberty Series 2017-3 Trust 2.62% MBS 10.04.2049 12,378,778 6,735,637 0.11 Liberty Series 2017-4 Trust 1.86% MBS 25.04.2049 25,143,753 13,700,263 0.23 Liberty Series 2017-4 Trust 2.06% MBS 25.04.2049 9,531,237 5,194,313 0.09 Liberty Series 2018-3 Trust 1.96% MBS 25.10.2050 19,060,210 10,446,047 0.18 Liberty Series 2020-1 Trust 1.51% MBS 25.07.2027 3,137,996 1,710,062 0.03 London Wall Mortgage Capital 0.80% MBS 15.05.2051 9,750,000 9,783,413 0.17 London Wall Mortgage Capital 1.05% MBS 15.05.2050 13,918,638 13,912,027 0.24 London Wall Mortgage Capital 1.45% MBS 15.05.2050 3,324,566 3,337,356 0.06 Ludgate Funding 0.00% MBS 01.01.2061 5,411,455 4,521,636 0.08 Ludgate Funding 0.25% MBS 01.12.2060 6,714,660 6,505,942 0.11 Ludgate Funding 0.66% MBS 01.01.2061 11,119,250 11,023,202 0.19 Magenta 2020 1.26% MBS 20.12.2024 3,980,345 3,960,698 0.07 Mansard Mortgages 2007-1 Parent 0.35% MBS 15.04.2049 6,835,349 6,470,426 0.11 Medallion Trust Series 2017-2 1.41% MBS 23.01.2050 19,290,020 10,716,810 0.18 Medallion Trust Series 2017-2 1.91% MBS 23.01.2050 14,467,515 8,076,902 0.14 Medallion Trust Series 2018-1 1.81% MBS 21.10.2053 20,000,000 11,463,738 0.19 Medallion Trust Series 2018-1 2.06% MBS 21.10.2053 26,480,000 15,162,958 0.26 MF1 2020-FL3 2.19% MBS 15.07.2035 4,811,000 3,428,163 0.06 MF1 2020-FL4 3.00% MBS 15.07.2035 2,351,500 1,686,596 0.03 Mortimer BTL 2020-1 A 1.13% MBS 21.06.2052 6,749,912 6,805,646 0.11 Mortimer BTL 2020-1 B 1.71% MBS 21.06.2052 4,650,000 4,683,536 0.08 National RMBS Trust 2018-1 1.26% MBS 24.08.2049 15,105,204 8,321,851 0.14 National RMBS Trust 2018-1 1.76% MBS 24.08.2049 9,014,396 4,985,510 0.08 Newgate Funding 0.00% MBS 01.12.2050 8,306,262 6,994,166 0.12 Newgate Funding 0.22% MBS 15.12.2050 3,018,143 2,913,833 0.05 Newgate Funding 0.32% MBS 01.12.2050 2,883,921 2,721,037 0.05 Oranje European Loan Conduit No.32 1.00% MBS 22.11.2028 8,785,754 7,565,271 0.13 Paragon Mortgages No.12 0.28% MBS 15.11.2038 24,293,576 24,059,410 0.41 Paragon Mortgages No.14 0.00% MBS 15.09.2039 4,000,000 3,411,779 0.06 Paragon Mortgages No.14 0.45% MBS 15.09.2039 6,268,824 4,336,918 0.07 Paragon Mortgages No.25 0.70% MBS 15.05.2050 8,600,014 8,612,678 0.15 Paragon Mortgages No.26 1.11% MBS 15.05.2045 1,605,690 1,618,929 0.03 Pearl Finance 1.40% MBS 17.11.2032 14,811,000 12,826,030 0.22 Pearl Finance 2.50% MBS 17.11.2032 9,782,000 8,423,769 0.14 Pembroke Property Finance '1 B' 1.02% MBS 01.06.2037 12,000,000 10,151,082 0.17 Pembroke Property Finance '1 C' 1.52% MBS 01.06.2037 7,693,000 6,540,220 0.11 Pepper I-Prime 2017-3 Trust 1.62% MBS 18.12.2048 8,939,558 4,861,081 0.08 Pepper I-Prime 2017-3 Trust 1.92% MBS 18.12.2048 4,595,615 2,498,966 0.04 Pepper I-Prime 2018-1 Trust 1.26% MBS 23.11.2049 4,931,599 2,691,175 0.05 Pepper I-Prime 2018-1 Trust 1.71% MBS 23.11.2049 8,275,425 4,518,105 0.08 Pepper I-Prime 2018-2 Trust 1.87% MBS 13.03.2050 8,181,940 4,489,844 0.08 Pepper I-Prime 2019-1 Trust 2.12% MBS 14.08.2050 11,200,000 6,183,787 0.10 Pepper I-Prime 2019-1 Trust 2.37% MBS 14.08.2050 1,400,000 774,354 0.01 Pepper I-Prime 2020-1 Trust 1.75% MBS 18.03.2052 40,500,000 22,290,396 0.38 Pepper Residential Securities Trust '18X A2' 2.12% MBS 12.08.2058 5,729,564 3,135,667 0.05 Pepper Residential Securities Trust '18X B' 2.77% MBS 12.08.2058 15,240,922 8,369,590 0.14 Pepper Residential Securities Trust '25X A1A' 1.30% MBS 12.03.2061 6,978,309 3,818,623 0.06

22 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 50.64%) (Continued) Pepper Residential Securities Trust '25X A1GE' 0.56% MBS 12.03.2061 3,575,761 3,077,129 0.05 Pepper Residential Securities Trust '25X A2' 1.62% MBS 12.03.2061 8,100,000 4,436,849 0.07 Pepper Residential Securities Trust No.17 2.22% MBS 10.03.2058 2,960,966 1,615,342 0.03 Pepper Residential Securities Trust No.17 2.92% MBS 10.03.2058 9,313,569 5,090,235 0.09 Pepper Residential Securities Trust No.19 1.79% MBS 12.03.2059 3,320,712 1,815,884 0.03 Pepper Residential Securities Trust No.19 2.09% MBS 12.03.2059 7,573,445 4,155,109 0.07 Pepper Residential Securities Trust No.20 1.57% MBS 16.09.2059 9,019,178 4,926,619 0.08 Pepper Residential Securities Trust No.20 1.92% MBS 16.09.2059 8,711,603 4,773,067 0.08 Pepper Residential Securities Trust No.21 1.92% MBS 16.01.2060 22,715,648 12,476,699 0.21 Pepper Residential Securities Trust No.21 2.22% MBS 16.01.2060 7,571,883 4,171,074 0.07 Pepper Residential Securities Trust No.22 2.22% MBS 20.06.2060 23,123,824 12,810,676 0.22 Pepper Residential Securities Trust No.22 2.47% MBS 20.06.2060 23,123,824 12,828,325 0.22 Pepper Residential Securities Trust No.23 2.57% MBS 18.08.2060 7,479,792 4,158,396 0.07 Pepper Residential Securities Trust No.24 2.12% MBS 18.11.2060 3,200,000 1,778,227 0.03 Pepper Residential Securities Trust No.24 2.42% MBS 18.11.2060 3,500,000 1,950,454 0.03 Pepper Residential Securities Trust No.27 1.67% MBS 13.06.2062 4,282,365 2,327,525 0.04 Pepper Residential Securities Trust No.27 1.92% MBS 13.06.2062 39,750,000 21,967,112 0.37 Pepper Residential Securities Trust No.28 0.92% MBS 17.04.2062 4,790,056 2,603,358 0.04 Pepper Residential Securities Trust No.28 1.42% MBS 17.04.2062 29,500,000 16,200,719 0.27 Pepper Sparkz Trust No.2 1.07% MBS 16.11.2027 2,530,710 1,381,855 0.02 Pepper Sparkz Trust No.2 B 1.57% MBS 16.11.2027 4,710,817 2,569,402 0.04 Permanent Master Issuer 2019-1 0.79% MBS 15.07.2058 10,321,000 7,285,237 0.12 Perpetual Trustee 2.37% MBS 13.09.2048 4,833,625 2,713,712 0.05 PFP 2019-5 1.11% MBS 14.04.2036 3,942,564 2,786,106 0.05 Polaris 2019-1 1.30% MBS 27.04.2057 10,324,605 10,364,742 0.18 Polaris 2019-1 1.85% MBS 27.04.2057 5,601,000 5,638,445 0.10 Polaris 2020-1 1.30% MBS 27.05.2057 25,215,711 25,473,012 0.43 Precise Mortgage Funding 2015-2B 0.74% MBS 12.03.2055 8,596,165 8,610,856 0.15 Precise Mortgage Funding 2015-2B 1.06% MBS 12.03.2055 5,615,000 5,601,743 0.09 Precise Mortgage Funding 2017-1B 0.71% MBS 12.12.2054 3,162,778 3,165,327 0.05 Precise Mortgage Funding 2017-1B 0.81% MBS 12.03.2054 15,600,403 15,626,643 0.26 Precise Mortgage Funding 2017-1B 1.06% MBS 12.12.2054 1,500,000 1,500,216 0.03 Precise Mortgage Funding 2019-1B 1.25% MBS 12.12.2055 14,800,000 14,978,000 0.25 Precise Mortgage Funding 2019-1B 2.06% MBS 12.12.2055 15,010,000 15,274,686 0.26 Precise Mortgage Funding 2020-1B 0.98% MBS 16.10.2056 4,579,865 4,614,511 0.08 Precise Mortgage Funding 2020-1B 1.50% MBS 16.10.2056 2,000,000 2,011,334 0.03 Progress 2004-1 Trust 1.71% MBS 22.07.2045 4,350,260 2,397,558 0.04 Progress 2017-1 Trust 1.75% MBS 29.06.2048 8,079,950 4,478,295 0.08 Progress 2017-1 Trust 2.20% MBS 29.06.2048 8,079,950 4,518,236 0.08 Progress 2017-2 Trust 1.42% MBS 10.02.2049 11,181,136 6,141,576 0.10 Progress 2017-2 Trust 1.82% MBS 10.02.2049 2,846,107 1,573,970 0.03 Providus CLO I DAC 2.10% MBS 14.05.2031 15,000,000 13,042,517 0.22 Residential Mortgage Securities 31 'A' 1.26% MBS 20.09.2065 10,829,712 10,854,095 0.18 Residential Mortgage Securities 31 'B' 1.71% MBS 20.09.2065 11,305,000 11,330,832 0.19 Residential Mortgage Securities 32 'A' 1.31% MBS 20.06.2070 8,327,676 8,435,332 0.14 Residential Mortgage Securities 32 'B' 1.96% MBS 20.06.2070 10,740,000 10,884,603 0.18 Resimac Bastille Trust 1.07% MBS 05.09.2057 5,043,849 3,554,786 0.06 Resimac Bastille Trust 1.87% MBS 13.11.2058 818,042 446,533 0.01 Resimac Bastille Trust 2.12% MBS 13.11.2058 5,856,557 3,196,037 0.05 Resimac Bastille Trust 2.92% MBS 05.12.2051 5,745,000 3,249,206 0.05 Resimac Premier Series 2017-1 1.22% MBS 11.09.2048 3,337,153 1,819,282 0.03 Resimac Premier Series 2017-2 1.22% MBS 15.01.2049 14,526,327 7,928,955 0.13 Resimac Premier Series 2017-2 1.67% MBS 15.01.2049 11,715,020 6,403,327 0.11 Resimac Premier Series 2017-2 2.32% MBS 15.01.2049 4,129,315 2,270,484 0.04 Resimac Premier Series 2020-1 1.32% MBS 07.02.2052 24,073,114 13,148,411 0.22 Resimac Premier Series 2020-1 2.32% MBS 07.02.2052 6,200,000 3,476,011 0.06 Resimac UK RMBS 0.00% MBS 15.12.2043 6,163,459 4,998,105 0.08 ResLoC UK 0.00% MBS 15.12.2043 1,577,845 1,298,791 0.02 ResLoC UK 0.22% MBS 15.12.2043 1,468,981 1,425,911 0.02

23 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 50.64%) (Continued) ResLoC UK 0.28% MBS 15.12.2043 10,340,864 9,828,619 0.17 Ribbon Finance 2018-1 Class A 0.83% MBS 20.04.2028 6,814,362 6,816,502 0.12 Ripon Mortgages '1X A1' 0.87% MBS 20.08.2056 21,385,009 21,443,668 0.36 Ripon Mortgages '1X A2' 1.60% MBS 20.08.2056 27,447,984 27,529,010 0.47 Ripon Mortgages '1X B1' 1.27% MBS 20.08.2056 16,177,000 16,278,042 0.28 Ripon Mortgages '1X B2' 1.27% MBS 20.08.2056 11,000,000 11,049,335 0.19 Ripon Mortgages '1X C1' 1.57% MBS 20.08.2056 4,000,000 4,038,076 0.07 River Green Finance 1.05% MBS 22.01.2032 4,232,425 3,621,997 0.06 RMAC Securities No.1 Ser 2006 NS1 0.00% MBS 12.06.2044 4,010,891 3,326,223 0.06 RMAC Securities No.1 Ser 2006 NS1 0.21% MBS 12.06.2044 4,314,766 4,204,483 0.07 RMAC Securities No.1 Ser 2006 NS2 0.00% MBS 12.06.2044 9,240,810 7,683,647 0.13 RMAC Securities No.1 Ser 2006 NS2 0.30% MBS 12.06.2044 5,933,574 5,683,782 0.10 RMAC Securities No.1 Ser 2006 NS3 0.00% MBS 12.06.2044 14,234,854 11,723,493 0.20 RMAC Securities No.1 Ser 2006 NS3X 0.30% MBS 12.06.2044 1,506,866 1,441,256 0.02 RMAC Securities No.1 Ser 2006 NS4 0.23% MBS 12.06.2044 24,001,987 23,257,517 0.39 Rochester Financing No.2 1.35% MBS 18.06.2045 9,510,157 9,516,006 0.16 Sage AR Funding No.1 1.30% MBS 17.11.2030 7,300,000 7,317,965 0.12 Salus European Loan Conduit No.33 1.55% MBS 23.01.2029 3,000,000 3,004,932 0.05 Salus European Loan Conduit No.33 2.05% MBS 23.01.2029 25,000,000 24,899,700 0.42 Sapphire XXI Series 2019-1 2.21% MBS 21.03.2050 3,794,452 2,088,535 0.04 Sapphire XXI Series 2019-2 1.41% MBS 21.03.2051 6,967,266 3,813,375 0.06 Sapphire XXI Series 2019-2 1.81% MBS 21.03.2051 3,344,288 1,832,664 0.03 Sapphire XXIII 2020-1 2.16% MBS 21.05.2052 3,519,432 1,938,918 0.03 Sapphire XXIV Series 2020-2 0.99% MBS 21.06.2052 2,410,490 1,310,181 0.02 Sapphire XXIV Series 2020-2 1.89% MBS 21.06.2052 3,230,000 1,778,921 0.03 Sestante Finance 0.46% MBS 27.12.2040 1,870,000 1,526,412 0.03 Shamrock Residential 2021-1 DAC 0.29% MBS 24.12.2059 19,321,555 16,635,869 0.28 Shawbrook Mortgage Funding 2019-1 1.18% MBS 16.12.2050 9,521,470 9,581,384 0.16 SMHL Series Securitisation Fund 2015-1 B 2.36% MBS 26.01.2047 5,306,992 2,915,328 0.05 Solaris Trust 2021-1 1.31% MBS 15.06.2052 5,779,000 3,142,050 0.05 Stanlington No.1 1.91% MBS 12.06.2046 7,000,000 7,038,577 0.12 Stratton Mortgage Funding '1 A' 0.86% MBS 12.03.2044 9,620,861 9,625,681 0.16 Stratton Mortgage Funding '1 A' 0.96% MBS 12.03.2052 11,074,174 11,100,879 0.19 Taurus 2018-2 UK 1.17% MBS 22.05.2028 2,401,395 2,372,055 0.04 Taurus 2018-2 UK 1.77% MBS 22.05.2028 11,595,813 10,794,194 0.18 Taurus 2019-2 UK 1.27% MBS 17.11.2029 2,990,737 2,999,102 0.05 Taurus 2019-2 UK 1.87% MBS 17.11.2029 10,407,763 10,441,089 0.18 Taurus 2019-3 UK 1.17% MBS 22.06.2029 11,160,000 11,177,225 0.19 Taurus 2019-3 UK 1.77% MBS 22.06.2029 6,568,000 6,475,227 0.11 Taurus 2020-1 NL 0.90% MBS 20.02.2030 9,703,082 8,364,989 0.14 Taurus 2020-1 NL 1.30% MBS 20.02.2030 24,742,100 21,158,878 0.36 Taurus 2020-2 UK 1.75% MBS 17.08.2030 23,410,120 23,565,774 0.40 Taurus 2020-2 UK 2.55% MBS 17.08.2030 10,349,737 10,417,621 0.18 Taurus 2021-2 SP 1.50% MBS 16.09.2031 7,350,000 6,335,888 0.11 Taurus 2021-3 DEU 1.20% MBS 22.12.2030 14,993,000 12,880,244 0.22 Taurus 2021-3 DEU 1.80% MBS 22.12.2030 11,042,000 9,523,791 0.16 Think Tank Series 2020-1 Trust 1.68% MBS 10.08.2053 27,642,442 15,100,557 0.26 Think Tank Series 2020-2 Trust 1.93% MBS 10.08.2053 16,647,059 9,124,818 0.15 Together 1.32% MBS 15.07.2061 23,241,961 23,408,060 0.40 TORRENS Series 2.02% MBS 12.04.2044 4,414,179 2,429,704 0.04 Towd Point Mortgage Funding 2019 'A14X' 0.95% MBS 20.05.2045 69,954,517 70,334,445 1.19 Towd Point Mortgage Funding 2019 'Gr4X B' 1.45% MBS 20.10.2051 10,000,000 10,019,090 0.17 Towd Point Mortgage Funding 2019 'Gr5A' 1.26% MBS 20.07.2044 6,716,197 6,700,528 0.11 Tower Bridge Funding No.1 1.43% MBS 20.09.2063 16,010,154 16,196,248 0.27 Tower Bridge Funding No.1 2.16% MBS 20.09.2063 2,987,000 3,030,049 0.05 Tower Bridge Funding No.2 0.96% MBS 20.03.2056 11,064,662 11,071,610 0.19 Tower Bridge Funding No.2 1.46% MBS 20.03.2056 17,600,000 17,609,434 0.30 Tower Bridge Funding No.3 1.26% MBS 20.12.2061 8,874,681 8,901,753 0.15 Tower Bridge Funding No.3 1.86% MBS 20.12.2061 9,000,000 9,030,618 0.15

24 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 50.64%) (Continued) Tower Bridge Funding No.4 2.06% MBS 20.12.2062 17,886,774 18,086,453 0.31 Tower Bridge Funding No.4 A 1.33% MBS 20.12.2062 31,426,421 31,689,177 0.54 TPG Real Estate Finance Issuer 1.79% MBS 15.11.2037 20,000,000 14,078,849 0.24 Trinidad Mortgage Securities 2018-1 0.85% MBS 24.01.2059 4,467,851 4,472,636 0.08 Triton Trust 2020-1 1.67% MBS 17.01.2052 6,849,103 3,780,772 0.06 Triton Trust 2020-1 2.22% MBS 17.01.2052 2,500,000 1,391,765 0.02 Triton Trust 2020-2 1.92% MBS 15.11.2051 15,000,000 8,291,269 0.14 Triton Trust 2020-2 2.22% MBS 15.11.2051 3,215,000 1,778,510 0.03 Triton Trust 2020-2 2.62% MBS 15.11.2051 2,162,000 1,201,149 0.02 Triton Trust No.1 2020-1 1.42% MBS 12.08.2051 17,143,000 9,437,541 0.16 Triton Trust No.7 2017-1 1.57% MBS 21.12.2048 1,674,489 914,965 0.02 Triton Trust No.7 2017-1 1.87% MBS 21.12.2048 2,689,341 1,472,001 0.02 Triton Trust No.7 2017-1 2.12% MBS 20.04.2049 1,530,950 840,084 0.01 Triton Trust No.7 2017-2 1.67% MBS 20.04.2049 3,636,005 1,987,735 0.03 Triton Trust No.8 2019-2 2.12% MBS 20.07.2050 9,300,000 5,133,413 0.09 Triton Trust No.8 2019-2 2.42% MBS 20.07.2050 3,175,000 1,757,365 0.03 Twin Bridges 2017-1 1.51% MBS 12.09.2044 14,000,000 14,053,123 0.24 Twin Bridges 2017-1 1.86% MBS 12.09.2044 9,000,000 9,058,851 0.15 Twin Bridges 2018-1 0.94% MBS 12.09.2050 12,883,544 12,963,634 0.22 Twin Bridges 2018-1 1.31% MBS 12.09.2050 10,000,000 10,034,410 0.17 Twin Bridges 2019-1 1.01% MBS 12.12.2052 6,804,870 6,846,482 0.12 Twin Bridges 2019-1 1.46% MBS 12.12.2052 7,056,000 7,076,155 0.12 Twin Bridges 2019-2 A 1.21% MBS 12.06.2053 7,017,198 7,069,574 0.12 Twin Bridges 2019-2 B 1.81% MBS 12.06.2053 10,000,000 10,078,750 0.17 Twin Bridges 2020-1 1.31% MBS 14.12.2054 13,212,178 13,407,018 0.23 Twin Bridges 2020-1 2.06% MBS 14.12.2054 4,288,000 4,366,312 0.07 Uropa Securities 0.30% MBS 10.10.2040 12,041,841 11,571,487 0.20 Uropa Securities 0.33% MBS 10.10.2040 9,782,792 9,413,344 0.16 Usil European Loan Conduit No.36 1.00% MBS 17.02.2030 4,595,237 3,961,558 0.07 Vermilion Trust No.1 Series 2019-1 1.52% MBS 10.07.2050 2,984,926 1,630,837 0.03 Vermilion Trust No.1 Series 2019-1 2.42% MBS 10.07.2050 1,482,000 816,847 0.01 Vermilion Trust No.1 Series 2020-1 2.52% MBS 14.12.2058 899,000 504,363 0.01 Vermilion Trust No.1 Series 2021-1 1.01% MBS 12.05.2053 4,758,000 2,588,081 0.04 Vermilion Trust No.1 Series 2021-1 1.61% MBS 12.05.2053 3,576,000 1,952,571 0.03 Vermilion Trust No.1 Series 2021-1 1.77% MBS 14.12.2058 7,000,000 3,856,121 0.07 Voya Euro CLO I 2.10% MBS 15.10.2030 14,250,000 12,452,858 0.21 Voya Euro CLO II 2.55% MBS 15.07.2032 10,000,000 8,679,449 0.15 WB Trust 2014-1 1.87% MBS 16.01.2046 3,027,251 1,664,955 0.03

Total value of mortgage backed securities 2,601,892,164 43.99

Total value of transferable securities 5,084,019,914 85.96

Forward currency contracts (30 November 2020: 0.43%)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

HSBC Bank 09.06.2021 GBP 405,812,827 AUD 726,997,000 10,888,428 0.19 HSBC Bank 16.07.2021 GBP 392,994,451 AUD 706,639,000 9,081,089 0.15 Goldman Sachs 25.06.2021 GBP 218,580,454 USD 300,921,000 6,544,518 0.11 Barclays Bank 11.06.2021 GBP 192,275,702 USD 263,767,000 6,415,671 0.11 Lloyds Bank 01.07.2021 GBP 363,114,806 EUR 416,864,000 4,717,694 0.08 Morgan Stanley 09.07.2021 GBP 198,092,720 USD 275,943,000 3,659,236 0.06 UBS 17.06.2021 GBP 315,168,348 EUR 362,540,000 3,554,567 0.06 Morgan Stanley 02.06.2021 GBP 295,503,877 EUR 341,463,498 2,016,529 0.04 Barclays Bank 03.06.2021 GBP 343,093,333 EUR 397,278,000 1,707,238 0.03 Morgan Stanley 02.06.2021 GBP 154,224,529 EUR 178,211,020 1,052,434 0.02

25 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

Forward currency contracts (30 November 2020: 0.43%) (Continued)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

Lloyds Bank 20.07.2021 GBP 204,325,867 USD 288,729,000 884,229 0.02 Lloyds Bank 15.07.2021 GBP 347,722,166 EUR 403,463,000 750,619 0.01 Barclays Bank 06.08.2021 GBP 190,210,129 USD 269,303,000 457,242 0.01 Citigroup 09.06.2021 GBP 7,982,489 AUD 14,303,000 212,713 0.01 BNP Paribas 17.06.2021 GBP 17,914,790 EUR 20,609,000 200,748 – HSBC Bank 17.06.2021 GBP 15,783,161 EUR 18,139,000 192,158 – Barclays Bank 11.06.2021 GBP 8,417,009 USD 11,709,000 166,412 – BNP Paribas 03.06.2021 GBP 23,473,341 EUR 27,138,000 153,309 – HSBC Bank 11.06.2021 GBP 6,726,545 USD 9,347,000 140,301 – Goldman Sachs 09.06.2021 GBP 3,418,187 AUD 6,125,000 90,922 – Goldman Sachs 01.07.2021 GBP 20,770,087 EUR 24,110,000 41,614 – Citigroup 17.06.2021 GBP 8,536,966 EUR 9,893,000 33,642 – HSBC Bank 15.07.2021 GBP 23,588,289 EUR 27,394,000 29,899 – JP Morgan 01.07.2021 EUR 19,000,000 GBP 16,308,937 26,235 – Morgan Stanley 02.06.2021 GBP 1,499,424 EUR 1,732,629 10,232 – HSBC Bank 17.06.2021 GBP 9,657,629 EUR 11,228,000 6,834 – Morgan Stanley 02.06.2021 GBP 782,555 EUR 904,265 5,340 – Westpac Bank 15.06.2021 GBP 151,246 USD 213,784 607 – Westpac Bank 15.06.2021 GBP 71,876 USD 101,596 288 – Westpac Bank 15.06.2021 GBP 3,925 EUR 4,568 – – Westpac Bank 15.06.2021 EUR 1 GBP 1 – – Westpac Bank 15.06.2021 GBP 11,137 EUR 12,959 (1) – Westpac Bank 15.06.2021 EUR 4,003 GBP 3,443 (3) – Royal Bank of Canada 15.06.2021 USD 19,469 GBP 13,752 (33) – Royal Bank of Scotland 15.06.2021 USD 41,355 GBP 29,213 (73) – Westpac Bank 15.06.2021 GBP 1,543,997 EUR 1,796,578 (159) – Westpac Bank 15.06.2021 GBP 2,958,169 EUR 3,442,093 (305) – Westpac Bank 15.06.2021 USD 207,133 GBP 146,695 (742) – Westpac Bank 15.06.2021 USD 1,554,740 GBP 1,098,132 (2,611) – Northern Trust 15.06.2021 USD 1,771,867 GBP 1,252,729 (4,213) – Morgan Stanley 15.06.2021 EUR 3,078,738 GBP 2,650,901 (4,731) – Morgan Stanley 15.06.2021 EUR 904,265 GBP 782,555 (5,340) – Morgan Stanley 15.06.2021 EUR 1,732,629 GBP 1,499,424 (10,232) – BNP Paribas 25.06.2021 USD 4,739,000 GBP 3,350,892 (11,682) – Morgan Stanley 15.06.2021 USD 3,922,134 GBP 2,775,804 (12,139) – Morgan Stanley 15.06.2021 USD 8,196,425 GBP 5,800,841 (25,367) – HSBC Bank 09.06.2021 AUD 10,636,000 GBP 5,815,367 (37,605) – Morgan Stanley 03.06.2021 GBP 12,835,593 EUR 14,984,000 (40,351) – HSBC Bank 09.06.2021 AUD 6,450,000 GBP 3,544,808 (40,994) – Citigroup 09.06.2021 AUD 5,314,000 GBP 2,953,399 (66,690) – Royal Bank of Scotland 16.07.2021 AUD 11,541,000 GBP 6,337,855 (67,689) – BNP Paribas 09.06.2021 AUD 5,805,000 GBP 3,222,067 (68,634) – Lloyds Bank 09.06.2021 AUD 7,768,000 GBP 4,297,440 (77,652) – Citigroup 09.06.2021 AUD 8,353,000 GBP 4,625,589 (88,014) – Morgan Stanley 02.06.2021 EUR 179,115,285 GBP 154,224,529 (275,219) (0.01) Citigroup 11.06.2021 USD 18,029,000 GBP 13,071,570 (367,667) (0.01) Morgan Stanley 02.06.2021 EUR 343,196,127 GBP 295,503,877 (527,338) (0.01) Morgan Stanley 15.06.2021 EUR 178,211,020 GBP 154,224,529 (1,052,434) (0.02) Morgan Stanley 15.06.2021 EUR 341,463,498 GBP 295,503,877 (2,016,529) (0.03)

Unrealised gain on forward currency contracts (30 November 2020: 0.71%) 53,040,748 0.90 Unrealised loss on forward currency contracts (30 November 2020: (0.28%)) (4,804,447) (0.08) Net unrealised gain on forward currency contracts 48,236,301 0.82

26 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

Value % of Net £ Assets

Total Financial Assets - Investment funds 512,842,885 8.67 Total Financial Assets - Transferable securities 5,084,019,914 85.96 Total Financial Assets - Derivative financial instruments 53,040,748 0.90 Total Financial Liabilities - Derivative financial instruments (4,804,447) (0.08) Total Cost of Investments £5,661,230,857 (2020: £5,608,208,589)

Cash at bank (30 November 2020: 0.12%) 231,745,260 3.92

Collateral and margin cash (30 November 2020: 0.02%) – –

Net current assets (30 November 2020: (0.35%)) 37,490,941 0.63

Net assets attributable to holders of redeemable shares 5,914,335,301 100.00

% of Total Analysis of Total Assets Assets UCITS and AIFs 8.63 Transferable securities admitted to official stock exchange listing 85.58 Over the counter derivative financial instruments 0.89 Cash and Other Assets 4.90 100.00

Space

^^Related party holdings.

27 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Investment funds (30 November 2020: 0.75%) Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2^^ UCITS 253,341 253,341 0.20

Total value of investment funds 253,341 0.20

Asset backed securities (30 November 2020: 3.82%) Circle Anglia Social Housing 7.25% ABS 12.11.2038 110,000 194,165 0.16 Domino's Pizza Master Issuer 2.66% ABS 25.04.2051 1,050,000 754,775 0.61 FedEx 2020-1 1.88% ABS 20.02.2034 2,121,715 1,478,980 1.21 Greene King Finance 4.06% ABS 15.03.2035 335,547 366,570 0.30 Greene King Finance 5.11% ABS 15.03.2034 500,000 578,357 0.47 Telereal Securitisation 4.97% ABS 10.09.2027 426,000 483,685 0.39 Telereal Securitisation 5.39% ABS 10.12.2031 308,497 378,278 0.31 Telereal Securitisation 5.43% ABS 10.12.2031 88,900 106,933 0.09 Telereal Securitisation 5.57% ABS 10.12.2031 182,000 184,353 0.15 Telereal Securitisation 6.16% ABS 10.12.2031 167,132 208,696 0.17

Total value of asset backed securities 4,734,792 3.86

Corporate bonds (30 November 2020: 81.80%) A2Dominion 3.50% Bonds 15.11.2028 233,000 256,438 0.21 AA Bond 2.75% Bonds 31.07.2023 839,000 849,976 0.69 AA Bond 4.88% Bonds 31.07.2024 180,000 191,686 0.16 AA Bond 6.27% Bonds 31.07.2025 523,000 590,736 0.48 ABP Finance 6.25% Bonds 14.12.2026 239,000 292,215 0.24 Air Canada 5.25% Bonds 01.04.2029 544,483 416,965 0.34 America Movil 4.38% Bonds 07.08.2041 865,000 1,105,215 0.90 America Movil 5.75% Bonds 28.06.2030 459,000 602,940 0.49 American Honda Finance 0.75% Bonds 25.11.2026 1,325,000 1,305,213 1.06 Anglian Water Services Financing 2.63% Bonds 15.06.2027 123,000 129,326 0.11 Anglian Water Services Financing 2.75% Bonds 26.10.2029 150,000 164,454 0.13 Anglian Water Services Financing 4.50% Bonds 22.02.2026 120,000 135,902 0.11 Anglian Water Services Financing 4.50% Bonds 05.10.2027 130,000 155,058 0.13 Anheuser-Busch InBev 3.70% Bonds 02.04.2040 100,000 114,305 0.09 Annington Funding 3.18% Bonds 12.07.2029 150,000 162,683 0.13 Annington Funding 3.69% Bonds 12.07.2034 367,000 422,153 0.34 Annington Funding 3.94% Bonds 12.07.2047 138,000 170,234 0.14 Assura Financing 1.50% Bonds 15.09.2030 435,000 430,682 0.35 Aster Treasury 4.50% Bonds 18.12.2043 370,000 532,966 0.43 AT&T 2.05% Bonds 19.05.2032 264,000 249,491 0.20 AT&T 4.25% Bonds 01.06.2043 312,000 389,699 0.32 AT&T 4.88% Bonds 06.01.2044 132,000 179,848 0.15 AT&T 7.00% Bonds 30.04.2040 800,000 1,308,470 1.07 Banco Santander 1.75% Bonds 17.02.2027 1,100,000 1,107,327 0.90 Bank of America 4.25% Bonds 10.12.2026 311,000 362,447 0.30 Bank of America 7.00% Bonds 31.07.2028 100,000 137,492 0.11 Banque Federative du Credit Mutuel 1.25% Bonds 05.12.2025 500,000 505,662 0.41 Barclays Bank 3.00% Bonds 08.05.2026 397,000 426,306 0.35 Blend Funding 3.46% Bonds 21.09.2047 111,000 135,697 0.11 BMW International Investment 0.75% Bonds 08.03.2024 1,830,000 1,834,557 1.50 BNP Paribas 1.88% Bonds 14.12.2027 1,000,000 1,018,330 0.83 BNP Paribas 3.38% Bonds 23.01.2026 805,000 879,105 0.72 BP Capital Markets 2.27% Bonds 03.07.2026 1,300,000 1,378,467 1.12 BP Capital Markets 2.82% Bonds 07.04.2032 303,000 312,967 0.26 BPCE 1.38% Bonds 23.12.2026 1,000,000 1,012,835 0.83 BPCE 5.25% Bonds 16.04.2029 300,000 368,319 0.30 British Airways 4.25% Bonds 15.11.2032 160,617 121,136 0.10 British Telecommunications 3.13% Bonds 21.11.2031 125,000 136,352 0.11 British Telecommunications 5.75% Bonds 07.12.2028 750,000 959,794 0.78 British Telecommunications 9.63% Bonds 15.12.2030 370,000 405,204 0.33

28 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 81.80%) (Continued) Broadgate Financing 5.00% Bonds 05.10.2031 195,000 223,308 0.18 Broadgate Financing 5.10% Bonds 05.04.2033 353,600 409,679 0.33 Cadent Finance 2.25% Bonds 10.10.2035 440,000 436,951 0.36 Cadent Gas 1.38% Bonds 07.02.2031 200,000 189,133 0.15 Cadent Gas 2.63% Bonds 22.09.2038 851,000 876,443 0.72 Cadent Gas 2.75% Bonds 22.09.2046 140,000 144,354 0.12 Canary Wharf Finance II 6.46% Bonds 22.07.2030 175,012 215,067 0.18 Cellnex Telecom 1.75% Bonds 23.10.2030 1,200,000 1,009,493 0.82 Centrica 7.00% Bonds 19.09.2033 369,000 562,137 0.46 Channel Link Enterprises Finance 1.76% Bonds 30.06.2050 166,000 142,168 0.12 Circle Anglia Social Housing 5.20% Bonds 02.03.2044 200,000 309,307 0.25 Citigroup 1.75% Bonds 23.10.2026 522,000 533,915 0.44 Clarion Funding 1.88% Bonds 22.01.2035 503,000 501,258 0.41 Comcast 1.25% Bonds 20.02.2040 321,000 274,692 0.22 Comcast 1.50% Bonds 20.02.2029 546,000 545,544 0.45 Commerzbank 1.75% Bonds 22.01.2025 600,000 607,951 0.50 Community Finance 5.02% Bonds 31.07.2034 250,000 329,903 0.27 CPUK Finance 3.69% Bonds 28.08.2028 1,250,000 1,375,780 1.12 Credit Agricole 7.38% Bonds 18.12.2023 400,000 464,642 0.38 Credit Suisse 2.75% Bonds 08.08.2025 339,000 358,692 0.29 Credit Suisse 3.00% Bonds 27.05.2022 265,000 271,301 0.22 Daimler 1.63% Bonds 11.11.2024 1,700,000 1,742,899 1.42 Danske Bank 2.25% Bonds 14.01.2028 497,000 509,429 0.42 Deutsche Bahn Finance GmbH 1.38% Bonds 16.04.2040 89,000 81,592 0.07 Deutsche Telekom International Finance 8.75% Bonds 15.06.2030 372,000 388,424 0.32 DONG Energy 5.75% Bonds 09.04.2040 162,000 254,541 0.21 E.ON International Finance 5.88% Bonds 30.10.2037 200,000 291,308 0.24 E.ON International Finance 6.38% Bonds 07.06.2032 200,000 281,767 0.23 Eastern Power Networks 1.88% Bonds 01.06.2035 435,000 427,308 0.35 Eastern Power Networks 2.13% Bonds 25.11.2033 213,000 220,194 0.18 Electricite de France 2.00% Bonds 09.12.2049 200,000 181,241 0.15 Electricite de France 4.50% Bonds 04.12.2069 600,000 489,185 0.40 Electricite de France 5.50% Bonds 17.10.2041 100,000 146,902 0.12 Electricite de France 6.00% Bonds 23.01.2114 100,000 173,706 0.14 Embotelladora Andina 5.00% Bonds 01.10.2023 1,000,000 767,521 0.63 ENEL Finance International 5.75% Bonds 22.06.2037 309,000 443,874 0.36 ENEL Finance International 5.75% Bonds 14.09.2040 508,000 759,101 0.62 ENW Finance 1.42% Bonds 30.07.2030 212,000 205,580 0.17 ESB Finance 1.88% Bonds 21.07.2035 349,000 349,364 0.29 Eversholt Funding 2.74% Bonds 30.06.2040 582,000 602,683 0.49 Eversholt Funding 3.53% Bonds 07.08.2042 249,000 276,720 0.23 Experian Finance 3.25% Bonds 07.04.2032 190,000 215,017 0.18 FCA Bank 0.50% Bonds 13.09.2024 314,000 273,493 0.22 Fidelity National Information 2.25% Bonds 03.12.2029 514,000 532,009 0.43 Fidelity National Information 3.36% Bonds 21.05.2031 156,000 174,227 0.14 First Abu Dhabi Bank 0.88% Bonds 09.12.2025 600,000 596,359 0.49 First Abu Dhabi Bank 1.38% Bonds 19.02.2023 296,000 299,833 0.24 Fiserv 2.25% Bonds 01.07.2025 108,000 113,608 0.09 Fiserv 3.00% Bonds 01.07.2031 217,000 235,867 0.19 Folio Residential 1.25% Bonds 31.10.2027 848,000 850,428 0.69 Gatwick Funding 3.13% Bonds 28.09.2039 160,000 162,911 0.13 Gatwick Funding 5.75% Bonds 23.01.2037 210,000 280,603 0.23 Gatwick Funding 6.50% Bonds 02.03.2041 290,000 429,570 0.35 GE Capital Euro Funding 6.03% Bonds 01.03.2038 17,000 23,543 0.02 GE Capital UK Funding 6.25% Bonds 05.05.2038 100,000 146,923 0.12 GE Capital UK Funding 8.00% Bonds 14.01.2039 314,000 531,799 0.43 GlaxoSmithKline Capital 5.25% Bonds 19.12.2033 140,000 195,505 0.16 GlaxoSmithKline Capital 5.25% Bonds 10.04.2042 162,000 248,592 0.20 GlaxoSmithKline Capital 6.38% Bonds 09.03.2039 300,000 494,090 0.40

29 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 81.80%) (Continued) Goldman Sachs 3.13% Bonds 25.07.2029 362,000 401,434 0.33 Goldman Sachs 4.25% Bonds 29.01.2026 300,000 341,462 0.28 Goldman Sachs 7.25% Bonds 10.04.2028 500,000 683,048 0.56 Great Places Housing 4.75% Bonds 22.10.2042 100,000 142,080 0.12 Great Rolling Stock 6.50% Bonds 05.04.2031 451,605 576,115 0.47 Great Rolling Stock 6.88% Bonds 27.07.2035 113,016 146,591 0.12 Greene King Finance 3.59% Bonds 15.03.2035 379,454 401,571 0.33 Greene King Finance 5.32% Bonds 15.09.2031 94,722 109,066 0.09 Heathrow Funding 2.75% Bonds 13.10.2029 396,000 409,967 0.33 Heathrow Funding 5.88% Bonds 13.05.2041 210,000 301,944 0.25 Heathrow Funding 6.45% Bonds 10.12.2031 530,000 725,068 0.59 Housing and Care 21 3.29% Bonds 08.11.2049 321,000 373,204 0.30 HSBC Bank 5.75% Bonds 20.12.2027 150,000 184,067 0.15 HSBC Bank 6.00% Bonds 29.03.2040 160,000 227,223 0.19 HSBC Bank 7.00% Bonds 07.04.2038 250,000 382,147 0.31 Hyde Housing Association 1.75% Bonds 18.08.2055 981,000 876,426 0.72 Incommunities Treasury 3.25% Bonds 21.03.2049 170,000 208,466 0.17 Ineos Quattro Finance 2.50% Bonds 15.01.2026 2,100,000 1,813,966 1.48 ING Groep 3.00% Bonds 18.02.2026 500,000 541,085 0.44 Inmobiliaria Colonial 2.00% Bonds 17.04.2026 400,000 370,394 0.30 Innogy Finance 4.75% Bonds 31.01.2034 600,000 760,970 0.62 Innogy Finance 6.13% Bonds 06.07.2039 200,000 305,260 0.25 Innogy Finance 6.25% Bonds 03.06.2030 103,000 138,960 0.11 Intesa Sanpaolo 2.50% Bonds 15.01.2030 530,000 540,261 0.44 Johnson & Johnson 5.85% Bonds 15.07.2038 200,000 201,049 0.16 Juturna European Loan Conduit 5.06% Bonds 10.08.2033 213,859 264,213 0.22 Kraft Heinz Foods 4.13% Bonds 01.07.2027 240,000 268,093 0.22 Land Securities Capital Markets 2.40% Bonds 08.02.2029 154,000 162,365 0.13 Land Securities Capital Markets 2.63% Bonds 22.09.2037 100,000 106,369 0.09 Legal & General Finance 5.88% Bonds 05.04.2033 82,000 117,440 0.10 Libra Longhurst 3.25% Bonds 15.05.2043 100,000 115,888 0.09 London & Quadrant Housing Trust 2.25% Bonds 20.07.2029 100,000 105,240 0.09 London & Quadrant Housing Trust 2.75% Bonds 20.07.2057 113,000 125,520 0.10 London & Quadrant Housing Trust 3.13% Bonds 28.02.2053 200,000 238,467 0.19 London & Quadrant Housing Trust 3.75% Bonds 27.10.2049 100,000 130,756 0.11 London & Quadrant Housing Trust 5.49% Bonds 15.06.2042 350,000 542,118 0.44 Manchester Airport 2.88% Bonds 30.09.2044 218,000 216,021 0.18 Martlet Homes 3.00% Bonds 09.05.2052 373,000 436,404 0.36 Metropolitan Funding 4.13% Bonds 05.04.2048 346,000 441,435 0.36 Metropolitan Life Global Funding I 0.63% Bonds 08.12.2027 1,240,000 1,190,183 0.97 Moat Homes Finance 5.00% Bonds 23.09.2041 100,000 144,126 0.12 Mondelez International 3.88% Bonds 06.03.2045 129,000 153,119 0.12 Mondelez International 4.50% Bonds 03.12.2035 200,000 252,564 0.21 Morgan Stanley 2.63% Bonds 09.03.2027 120,000 128,615 0.11 National Australia Bank 1.13% Bonds 10.11.2021 510,000 512,165 0.42 National Grid Electricity Transmission 2.00% Bonds 17.04.2040 188,000 181,431 0.15 NIE Finance 2.50% Bonds 27.10.2025 367,000 389,631 0.32 Notting Hill Housing Trust 3.25% Bonds 12.10.2048 694,000 825,700 0.67 Notting Hill Housing Trust 5.25% Bonds 07.07.2042 361,000 539,911 0.44 OP Corporate Bank 2.50% Bonds 18.02.2049 1,578,000 1,566,264 1.28 Optivo Finance 3.28% Bonds 22.03.2048 128,000 152,967 0.12 Orange 3.25% Bonds 15.01.2032 600,000 679,464 0.55 Orange 9.00% Bonds 01.03.2031 200,000 219,723 0.18 Oxford University 2.54% Bonds 08.12.2117 310,000 384,419 0.31 Pearson Funding 3.75% Bonds 04.06.2030 397,000 439,747 0.36 Pension Insurance Corporation 5.63% Bonds 20.09.2030 1,585,000 1,926,712 1.57 PGH Capital 6.63% Bonds 18.12.2025 100,000 120,727 0.10 Phoenix Group Holdings 5.63% Bonds 28.04.2031 374,000 451,878 0.37 RAC Bond 4.57% Bonds 06.05.2023 970,000 1,010,804 0.82

30 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 81.80%) (Continued) RAC Bond 4.87% Bonds 06.05.2026 789,000 861,266 0.70 RCI Banque 0.75% Bonds 12.01.2022 400,000 345,049 0.28 Realty Income 1.63% Bonds 15.12.2030 980,000 965,658 0.79 ReAssure Group 5.87% Bonds 13.06.2029 870,000 1,051,333 0.86 Reckitt Benckiser 1.75% Bonds 19.05.2032 402,000 404,553 0.33 Rothesay Life 19/26 3.38% Bonds 12.07.2026 1,435,000 1,536,241 1.25 Rothesay Life 19/26 8.00% Bonds 30.10.2025 380,000 478,993 0.39 Royal Bank of Canada 1.38% Bonds 09.12.2024 400,000 408,420 0.33 Sanctuary Capital 2.38% Bonds 14.04.2050 249,000 261,147 0.21 Scentre Trust 3.88% Bonds 16.07.2026 650,000 726,335 0.59 Scentre Trust 4.38% Bonds 28.05.2030 202,000 162,728 0.13 Scottish Widows 5.50% Bonds 16.06.2023 189,000 205,813 0.17 Severn Trent Utilities Finance 2.00% Bonds 02.06.2040 139,000 135,477 0.11 Severn Trent Utilities Finance 4.88% Bonds 24.01.2042 100,000 144,259 0.12 Shell International Finance 1.00% Bonds 10.12.2030 1,500,000 1,416,888 1.16 Shell International Finance 6.38% Bonds 15.12.2038 149,000 153,226 0.13 Silverback Finance 3.13% Bonds 25.02.2037 76,081 66,299 0.05 Society of Lloyd's 4.75% Bonds 30.10.2024 175,000 193,639 0.16 Society of Lloyd's 4.88% Bonds 07.02.2047 189,000 216,789 0.18 South Eastern Power Networks 2.38% Bonds 28.05.2028 692,000 714,633 0.58 South Eastern Power Networks 3.00% Bonds 28.05.2037 380,000 406,400 0.33 South Eastern Power Networks 5.63% Bonds 30.09.2030 170,000 227,180 0.19 Southern Electric Power Distribution 4.63% Bonds 20.02.2037 280,000 369,865 0.30 Sovereign Housing Capital 2.38% Bonds 04.11.2048 142,000 150,333 0.12 Statoil 3.95% Bonds 15.05.2043 106,000 85,206 0.07 Student Finance 2.67% Bonds 30.09.2024 888,000 898,025 0.73 Takeda Pharmaceutical Company 1.38% Bonds 09.07.2032 405,000 358,372 0.29 Takeda Pharmaceutical Company 2.00% Bonds 09.07.2040 163,000 146,879 0.12 TDF Infrastructure 2.50% Bonds 07.04.2026 500,000 467,163 0.38 Telecom Italia 5.88% Bonds 19.05.2023 400,000 434,961 0.35 Telereal Secured Finance 4.01% Bonds 10.12.2031 241,457 269,539 0.22 Tesco Corporate Treasury 2.75% Bonds 27.04.2030 200,000 212,900 0.17 Tesco Property Finance 3 5.74% Bonds 13.04.2040 303,748 403,721 0.33 Tesco Property Finance 4 5.80% Bonds 13.10.2040 662,001 882,595 0.72 Tesco Property Finance 5 5.66% Bonds 13.10.2041 199,370 264,651 0.22 Thames Water Utilities Finance 2.38% Bonds 22.04.2040 127,000 126,647 0.10 Thames Water Utilities Finance 2.63% Bonds 24.01.2032 480,000 505,429 0.41 Thames Water Utilities Finance 4.38% Bonds 03.07.2034 120,000 149,552 0.12 Thames Water Utilities Finance 5.13% Bonds 28.09.2037 80,000 109,740 0.09 Thermo Fisher Scientific 1.88% Bonds 01.10.2049 300,000 261,375 0.21 Time Warner Cable 5.25% Bonds 15.07.2042 710,000 929,311 0.76 Time Warner Cable 5.75% Bonds 02.06.2031 662,000 839,258 0.68 Total Capital 1.66% Bonds 22.07.2026 600,000 618,365 0.50 United Utilities Water 2.63% Bonds 12.02.2031 160,000 173,436 0.14 Verizon Communications 0.88% Bonds 19.03.2032 210,000 180,057 0.15 Verizon Communications 1.85% Bonds 18.05.2040 349,000 313,610 0.26 Virgin Media Secured Finance 5.25% Bonds 15.05.2029 780,000 828,046 0.68 Vodafone 3.00% Bonds 12.08.2056 429,000 455,466 0.37 Vodafone 7.88% Bonds 15.02.2030 385,000 382,948 0.31 Vodafone Group 2.50% Bonds 24.05.2039 420,000 414,518 0.34 Volkswagen Financial Services 3.38% Bonds 06.04.2028 242,000 247,261 0.20 Volkswagen International Finance 3.38% Bonds 16.11.2026 300,000 331,684 0.27 Wales & West Utilities Finance 1.88% Bonds 28.05.2041 428,000 403,537 0.33 WEA Finance 2.88% Bonds 15.01.2027 400,000 289,787 0.24 Wellcome Trust Finance 2.52% Bonds 07.02.2118 254,000 312,292 0.25 Wells Fargo 2.00% Bonds 28.07.2025 491,000 508,643 0.42 Wells Fargo 2.50% Bonds 02.05.2029 100,000 105,193 0.09 Wells Fargo 3.50% Bonds 12.09.2029 599,000 676,737 0.55 Welltower 4.80% Bonds 20.11.2028 260,000 308,313 0.25

31 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 81.80%) (Continued) Western Power Distribution East Midlands 6.25% Bonds 10.12.2040 350,000 565,335 0.46 Western Power Distribution West Midlands 1.75% Bonds 09.09.2031 482,000 477,905 0.39 Western Power Distribution West Midlands 5.75% Bonds 16.04.2032 430,000 590,109 0.48 Westfield America Management 2.13% Bonds 30.03.2025 250,000 256,106 0.21 Westpac Banking 1.00% Bonds 30.06.2022 359,000 362,014 0.30 White City Property Finance 5.12% Bonds 17.04.2035 276,815 348,425 0.28 WM Treasury 3.25% Bonds 20.10.2048 308,000 376,182 0.31 Yorkshire Water Services Finance 2.75% Bonds 18.04.2041 200,000 218,174 0.18 Yorkshire Water Services Finance 6.38% Bonds 19.08.2039 100,000 163,439 0.13

Total value of corporate bonds 99,995,819 81.57

Floating rate notes (30 November 2020: 8.43%) Aviva 4.00% FRN 03.06.2055 100,000 109,813 0.09 Aviva 4.38% FRN 12.09.2049 147,000 165,538 0.14 AXA 5.63% FRN 16.01.2054 410,000 516,608 0.42 Channel Link Enterprises Finance 2.71% FRN 30.06.2050 1,644,000 1,438,065 1.17 Channel Link Enterprises Finance 3.04% FRN 30.06.2050 150,000 151,502 0.12 Credit Suisse 2.25% FRN 09.06.2028 484,000 495,806 0.41 Electricite de France 6.00% FRN 31.12.2049 400,000 444,083 0.36 HSBC Bank 3.00% FRN 22.07.2028 648,000 697,979 0.57 JP Morgan 1.90% FRN 28.04.2033 1,073,000 1,076,176 0.88 Legal & General Group 3.75% FRN 26.11.2049 204,000 219,476 0.18 Marstons Issuer 5.18% FRN 15.07.2032 1,240,000 1,295,799 1.06 Orange 5.75% FRN 31.12.2049 180,000 194,730 0.16 Prudential 5.56% FRN 20.07.2055 160,000 189,298 0.15 Prudential 5.63% FRN 20.10.2051 124,000 147,379 0.12 Prudential 6.25% FRN 20.10.2068 931,000 1,197,594 0.98 Prudential 6.34% FRN 19.12.2063 170,000 218,362 0.18 RL Finance Bonds No.4 4.88% FRN 07.10.2049 1,508,000 1,692,764 1.38 Vodafone 4.88% FRN 03.10.2078 343,000 372,217 0.30 Wells Fargo 1.74% FRN 04.05.2030 132,000 121,640 0.10 XLIT 3.25% FRN 29.06.2047 700,000 676,234 0.55

Total value of floating rate notes 11,421,063 9.32

Government bonds (30 November 2020: 2.86%) UK Municipal Bonds Agency Finance Company 1.63% Bonds 26.08.2060 570,000 525,490 0.43

Total value of government bonds 525,490 0.43

Mortgage backed securities (30 November 2020: 0.47%) Green Storm 0.21% MBS 22.02.2068 600,000 531,792 0.43 Longstone Finance 4.79% MBS 19.04.2030 153,954 178,488 0.15 Taurus 2021-3 DEU 1.20% MBS 22.12.2030 1,574,001 1,352,199 1.10 Westfield Stratford City Finance 1.64% MBS 04.08.2026 394,000 392,859 0.32

Total value of mortgage backed securities 2,455,338 2.00

Total value of transferable securities 119,132,502 97.18

Interest rate swaps (30 November 2020: 0.17%) IRS GBP RCV 1.37% Pay 1D SONIA 15.11.2033 455,000 31,589 0.03 IRS EUR RCV 6M EURIBOR Pay 0.34% 30.03.2039 1,450,000 26,491 0.02 IRS EUR RCV 6M EURIBOR Pay (0.01%) 30.03.2031 2,400,000 24,561 0.02 IRS EUR RCV 6M EURIBOR Pay 0.40% 30.03.2049 450,000 12,194 0.01 IRS GBP RCV 0.94% Pay SONIA 12.03.2041 1,460,000 2,835 – IRS GBP RCV 0.88% Pay SONIA 12.03.2056 1,360,000 1,757 – IRS EUR RCV 6M EURIBOR Pay (0.27%) 30.03.2026 (6,900,000) (1,724) – 32 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Interest rate swaps (30 November 2020: 0.17%) (Continued) IRS USD RCV 3M LIBOR Pay 2.03% 30.03.2038 (1,500,000) (23,114) (0.02) IRS USD RCV 3M LIBOR Pay 1.48% 30.03.2029 (6,600,000) (50,112) (0.04)

Unrealised gain on interest rate swaps (30 November 2020: 0.17%) 99,427 0.08 Unrealised loss on interest rate swaps (30 November 2020: 0.00%) (74,950) (0.06) Net unrealised gain on interest rate swaps 24,477 0.02

Credit default swaps (30 November 2020: (0.01%))

Forward currency contracts (30 November 2020: 0.16%)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

Lloyds Bank 01.07.2021 GBP 2,617,544 EUR 3,005,000 34,008 0.03 Barclays Bank 11.06.2021 GBP 867,463 USD 1,190,000 28,945 0.02 UBS 17.06.2021 GBP 2,465,431 EUR 2,836,000 27,806 0.02 Citigroup 25.06.2021 GBP 763,339 USD 1,050,000 23,484 0.02 Royal Bank of Scotland 03.06.2021 GBP 3,918,944 EUR 4,538,000 19,382 0.02 Goldman Sachs 25.06.2021 GBP 568,023 USD 782,000 17,007 0.02 Lloyds Bank 20.07.2021 GBP 2,603,531 USD 3,679,000 11,267 0.01 Lloyds Bank 15.07.2021 GBP 4,166,154 EUR 4,834,000 8,993 0.01 Barclays Bank 06.08.2021 GBP 1,511,493 USD 2,140,000 3,634 – Morgan Stanley 09.07.2021 GBP 140,704 USD 196,000 2,599 – HSBC Bank 15.07.2021 EUR 1,525,000 GBP 1,310,705 770 –

Unrealised gain on forward currency contracts (30 November 2020: 0.19%) 177,895 0.15 Unrealised loss on forward currency contracts (30 November 2020: (0.03%)) – – Net unrealised gain on forward currency contracts 177,895 0.15

No. of Unrealised % of Net

Security Description FUTGL Contracts Gain/(Loss) £ WAssets

Futures contracts (30 November 2020: (0.08%)) Future Sep 2021 Lif Long Gilt 50 12,829 0.01 Future Jun 2021 Euro-Bund Eux (1) (848) –

Unrealised gain on futures contracts (30 November 2020: 0.00%) 12,829 0.01 Unrealised loss on futures contracts (30 November 2020: (0.08%)) (848) – Net unrealised gain on futures contracts 11,981 0.01

Value % of Net £ Assets

Total Financial Assets - Investment funds 253,341 0.20 Total Financial Assets - Transferable securities 119,132,502 97.18 Total Financial Assets - Derivative financial instruments 290,151 0.24 Total Financial Liabilities - Derivative financial instruments (75,798) (0.06) Total Cost of Investments £115,375,849 (2020: £113,943,140)

Cash at bank (30 November 2020: 0.03%) 1,371,786 1.12

Collateral and margin cash (30 November 2020: 0.46%) 250,393 0.20

Net current assets (30 November 2020: 1.14%) 1,370,094 1.12

Net assets attributable to holders of redeemable shares 122,592,469 100.00

33 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

% of Total Analysis of Total Assets Assets UCITS and AIFs 0.21 Transferable securities admitted to official stock exchange listing 97.09 Derivative financial instruments dealt in on a regulated market 0.01 Over the counter derivative financial instruments 0.23 Cash and Other Assets 2.46 100.00

Space ^^Related party holdings.

34 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Investment funds (30 November 2020: 1.80%) Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2^^ UCITS 23,443,532 23,443,532 0.78

Total value of investment funds 23,443,532 0.78

Asset backed securities (30 November 2020: 4.58%) American Airlines 2015 3.60% ABS 22.09.2027 5,289,523 3,818,360 0.13 American Airlines 2016 3.00% ABS 15.10.2028 2,536,471 1,824,404 0.06 American Airlines 2016 3.20% ABS 15.06.2028 3,229,096 2,308,237 0.08 American Airlines 2016 3.58% ABS 15.01.2028 3,026,995 2,184,104 0.07 American Airlines 2017 3.65% ABS 15.02.2029 6,739,459 4,874,900 0.16 Channel Link Enterprises Finance 3.85% ABS 30.06.2050 7,168,000 8,055,213 0.27 Circle Anglia Social Housing 7.25% ABS 12.11.2038 5,681,000 10,027,723 0.33 DB Master Finance 3.63% ABS 20.11.2047 8,835,210 6,346,298 0.21 Delta Spark 0.01% ABS 22.07.2023 2,444,610 2,098,428 0.07 Domino's Pizza Master Issuer 2.66% ABS 25.04.2051 18,932,000 13,608,961 0.45 Domino's Pizza Master Issuer 4.12% ABS 25.07.2048 12,169,950 9,035,603 0.30 Equity Release Funding No.2 5.88% ABS 26.05.2032 656,922 785,725 0.03 FedEx 2020-1 1.88% ABS 20.02.2034 37,032,683 25,814,311 0.86 Greene King Finance 4.06% ABS 15.03.2035 8,320,946 9,090,247 0.30 Heathrow Funding 7.13% ABS 14.02.2024 3,715,000 4,254,850 0.14 Income Contingent Student Loan 1.32% ABS 24.07.2058 12,205,964 12,224,566 0.41 Marstons Issuer 1.37% ABS 15.10.2027 7,916,905 7,422,099 0.25 Metropolitan Life Global Funding I 2.88% ABS 11.01.2023 876,000 910,537 0.03 Metropolitan Life Global Funding I 3.50% ABS 30.09.2026 2,369,000 2,666,812 0.09 Telereal Securitisation 4.97% ABS 10.09.2027 951,578 1,080,431 0.04 Telereal Securitisation 5.39% ABS 10.12.2031 660,291 809,647 0.03 Telereal Securitisation 5.43% ABS 10.12.2031 280,924 337,909 0.01 Telereal Securitisation 5.55% ABS 10.12.2031 860,248 1,042,528 0.03 Telereal Securitisation 5.57% ABS 10.12.2031 7,490,000 7,586,817 0.25 Telereal Securitisation 5.95% ABS 10.12.2031 918,230 1,138,651 0.04 Telereal Securitisation 6.16% ABS 10.12.2031 1,965,579 2,454,399 0.08 United Airlines 2015-1 3.45% ABS 01.12.2027 1,199,439 892,766 0.03 United Airlines 2016-2 2.88% ABS 07.10.2028 4,269,697 3,101,728 0.10 United Airlines 2019-2 2.70% ABS 01.05.2032 4,530,650 3,181,651 0.10

Total value of asset backed securities 148,977,905 4.95

Corporate bonds (30 November 2020: 79.68%) AA Bond 2.88% Bonds 31.01.2022 1,599,000 1,607,758 0.05 AA Bond 4.88% Bonds 31.07.2024 16,153,000 17,201,680 0.57 AA Bond 5.50% Bonds 31.07.2027 3,952,000 4,357,922 0.14 AA Bond 6.27% Bonds 31.07.2025 5,252,000 5,932,213 0.20 Abbey National Treasury Services 3.88% Bonds 15.10.2029 1,079,000 1,289,180 0.04 ABP Finance 6.25% Bonds 14.12.2026 16,131,000 19,722,671 0.65 Aeroports de Paris 1.13% Bonds 18.06.2034 24,300,000 21,450,035 0.71 Affinity Sutton Capital Markets 4.25% Bonds 08.10.2042 1,104,000 1,509,898 0.05 Affinity Sutton Capital Markets 5.98% Bonds 17.09.2038 1,496,000 2,364,678 0.08 Air Canada 3.30% Bonds 15.01.2030 15,666,352 11,177,554 0.37 Air Canada 3.60% Bonds 15.03.2027 5,243,475 3,748,789 0.12 Air Canada 5.25% Bonds 01.04.2029 8,196,300 6,276,722 0.21 Allianz Finance II 4.50% Bonds 13.03.2043 2,700,000 4,015,809 0.13 America Movil 4.38% Bonds 07.08.2041 6,188,000 7,906,439 0.26 America Movil 4.38% Bonds 16.07.2042 9,620,000 7,869,781 0.26 America Movil 4.95% Bonds 22.07.2033 2,541,000 3,306,199 0.11 America Movil 5.00% Bonds 27.10.2026 5,270,000 6,273,618 0.21 America Movil 5.75% Bonds 28.06.2030 2,431,000 3,193,349 0.11 American Honda Finance 0.75% Bonds 25.11.2026 22,034,000 21,704,950 0.72 American Honda Finance 1.80% Bonds 13.01.2031 9,834,000 6,700,967 0.22 Anglian Water Services Financing 1.63% Bonds 10.08.2025 950,000 985,085 0.03

35 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 79.68%) (Continued) Anglian Water Services Financing 2.63% Bonds 15.06.2027 3,470,000 3,648,453 0.12 Anglian Water Services Financing 2.75% Bonds 26.10.2029 7,279,000 7,980,388 0.26 Anglian Water Services Financing 4.50% Bonds 22.02.2026 236,000 267,273 0.01 Anglian Water Services Financing 4.50% Bonds 05.10.2027 2,832,000 3,377,888 0.11 Anglian Water Services Financing 6.29% Bonds 30.07.2030 410,000 572,098 0.02 Anglian Water Services Financing 6.88% Bonds 21.08.2023 163,000 185,865 0.01 Anheuser-Busch InBev 2.25% Bonds 24.05.2029 1,301,000 1,361,329 0.05 Anheuser-Busch InBev 2.85% Bonds 25.05.2037 8,866,000 9,587,708 0.32 Anheuser-Busch InBev 4.00% Bonds 24.09.2025 734,000 829,836 0.03 Anheuser-Busch InBev 9.75% Bonds 30.07.2024 734,000 938,409 0.03 Annington Funding 2.65% Bonds 12.07.2025 2,236,000 2,359,524 0.08 Annington Funding 3.18% Bonds 12.07.2029 4,267,000 4,627,787 0.15 Annington Funding 3.69% Bonds 12.07.2034 2,707,000 3,113,810 0.10 Annington Funding 3.94% Bonds 12.07.2047 7,509,000 9,262,959 0.31 Assicurazioni Generali 4.13% Bonds 04.05.2026 7,200,000 7,229,213 0.24 Assura Financing 1.50% Bonds 15.09.2030 6,547,000 6,482,012 0.22 Aster Treasury 4.50% Bonds 18.12.2043 9,178,000 13,220,441 0.44 AT&T 4.25% Bonds 01.06.2043 10,799,000 13,488,345 0.45 AT&T 4.38% Bonds 14.09.2029 691,000 823,048 0.03 AT&T 4.88% Bonds 06.01.2044 2,165,000 2,949,773 0.10 AT&T 5.20% Bonds 18.11.2033 200,000 262,558 0.01 AT&T 5.50% Bonds 15.03.2027 5,600,000 6,864,974 0.23 AT&T 7.00% Bonds 30.04.2040 1,650,000 2,698,719 0.09 Australia Pacific Airports Melbourne Pty 1.75% Bonds 15.10.2024 2,295,000 2,064,054 0.07 Australia Pacific Airports Melbourne Pty 3.13% Bonds 26.09.2023 8,602,000 7,919,830 0.26 Bank of America 4.25% Bonds 10.12.2026 1,585,000 1,847,197 0.06 Bank of America 7.00% Bonds 31.07.2028 5,400,000 7,424,584 0.25 Bank of Nova Scotia 0.75% Bonds 14.09.2021 17,276,000 17,304,303 0.57 Barclays Bank 3.00% Bonds 08.05.2026 4,749,000 5,099,562 0.17 Barclays Bank 3.13% Bonds 17.01.2024 2,713,000 2,864,905 0.10 Barclays Bank 3.25% Bonds 12.02.2027 2,732,000 2,971,738 0.10 Barclays Bank 3.25% Bonds 17.01.2033 7,255,000 7,979,881 0.26 Barclays Bank 4.84% Bonds 09.05.2028 2,233,000 1,766,406 0.06 Barclays Bank 5.75% Bonds 17.08.2021 1,763,000 1,783,082 0.06 Barclays Bank 5.75% Bonds 14.09.2026 405,000 491,184 0.02 BASF 1.38% Bonds 21.06.2022 5,654,000 5,717,138 0.19 BASF 1.75% Bonds 11.03.2025 405,000 420,809 0.01 BMW Finance 0.88% Bonds 16.08.2022 1,559,000 1,567,467 0.05 BMW Finance 2.38% Bonds 01.12.2021 12,022,000 12,147,101 0.40 BMW International Investment 0.75% Bonds 08.03.2024 12,954,000 12,986,259 0.43 BMW International Investment 1.00% Bonds 17.11.2021 324,000 325,080 0.01 BMW International Investment 1.88% Bonds 11.09.2023 928,000 955,930 0.03 BMW US Capital 4.15% Bonds 09.04.2030 3,151,000 2,563,015 0.09 BNP Paribas 1.13% Bonds 16.08.2022 755,000 762,364 0.03 BNP Paribas 3.38% Bonds 23.01.2026 23,157,000 25,288,749 0.84 BPCE 5.25% Bonds 16.04.2029 14,100,000 17,310,995 0.57 British Airways 3.30% Bonds 15.12.2032 21,006,764 15,086,371 0.50 British Airways 3.80% Bonds 20.09.2031 12,958,333 9,618,573 0.32 British Airways 4.25% Bonds 15.11.2032 430,880 324,967 0.01 British Telecommunications 2.13% Bonds 26.09.2028 2,728,000 2,611,805 0.09 British Telecommunications 5.75% Bonds 07.12.2028 647,000 827,982 0.03 Cadent Gas 1.13% Bonds 22.09.2021 442,000 442,833 0.01 Cadent Gas 2.63% Bonds 22.09.2038 5,241,000 5,397,696 0.18 Cadent Gas 2.75% Bonds 22.09.2046 9,444,000 9,737,708 0.32 Canadian Imperial Bank of Commerce 1.13% Bonds 30.06.2022 6,911,000 6,977,962 0.23 Canary Wharf Finance II 5.95% Bonds 22.01.2035 1,545,000 2,147,046 0.07 Canary Wharf Finance II 6.46% Bonds 22.07.2030 9,566,041 11,755,420 0.39 Canary Wharf Finance II 6.80% Bonds 22.04.2030 4,363,277 5,485,830 0.18 Caterpillar 3.25% Bonds 09.04.2050 13,382,000 10,023,159 0.33

36 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 79.68%) (Continued) Cellnex Telecom 1.75% Bonds 23.10.2030 31,200,000 26,246,809 0.87 Channel Link Enterprises Finance 1.76% Bonds 30.06.2050 235,000 201,262 0.01 Circle Anglia Social Housing 5.20% Bonds 02.03.2044 3,057,000 4,727,759 0.16 Citigroup 4.50% Bonds 03.03.2031 100,000 120,574 – Citigroup 5.15% Bonds 21.05.2026 1,978,000 2,353,335 0.08 Citigroup 6.80% Bonds 25.06.2038 3,183,000 5,319,341 0.18 Citigroup 8.13% Bonds 15.07.2039 12,393,000 14,692,004 0.49 Comcast 1.88% Bonds 20.02.2036 6,285,000 6,167,720 0.20 Comcast 5.50% Bonds 23.11.2029 11,670,000 15,292,303 0.51 Commonwealth Bank of Australia 3.00% Bonds 04.09.2026 17,616,000 19,603,125 0.65 Community Finance 5.02% Bonds 31.07.2034 5,545,000 7,317,242 0.24 Continental Airlines 2012-1 4.15% Bonds 11.04.2024 489,244 364,257 0.01 Cooperatieve Rabobank 4.00% Bonds 19.09.2022 163,000 170,719 0.01 Cooperatieve Rabobank 4.55% Bonds 30.08.2029 3,191,000 4,011,868 0.13 Cooperatieve Rabobank 4.63% Bonds 23.05.2029 360,000 426,331 0.01 Cooperatieve Rabobank 4.88% Bonds 10.01.2023 518,000 555,226 0.02 Cooperatieve Rabobank 5.25% Bonds 14.09.2027 1,430,000 1,719,709 0.06 Cooperatieve Rabobank 5.38% Bonds 03.08.2060 100,000 191,678 0.01 CPUK Finance 3.59% Bonds 28.08.2025 4,538,000 4,900,913 0.16 CPUK Finance 3.69% Bonds 28.08.2028 20,632,000 22,708,074 0.75 CPUK Finance 7.24% Bonds 28.02.2024 2,030,000 2,346,204 0.08 Credit Agricole 2.63% Bonds 17.03.2027 1,899,000 1,807,238 0.06 Credit Agricole 4.38% Bonds 17.03.2025 14,850,000 11,556,663 0.38 Credit Agricole 7.38% Bonds 18.12.2023 200,000 232,321 0.01 Crown Castle International 3.30% Bonds 01.07.2030 4,732,000 3,542,386 0.12 Daimler 1.50% Bonds 18.08.2021 800,000 801,880 0.03 Daimler 1.50% Bonds 13.01.2022 1,339,000 1,347,706 0.04 Daimler 2.00% Bonds 04.09.2023 5,400,000 5,558,858 0.18 Daimler 2.13% Bonds 07.06.2022 183,000 186,085 0.01 Daimler 2.38% Bonds 16.12.2021 76,000 76,799 – Deutsche Bahn Finance GmbH 2.75% Bonds 20.06.2022 5,000,000 5,133,123 0.17 Deutsche Telekom International Finance 3.13% Bonds 06.02.2034 11,664,000 13,110,064 0.44 Deutsche Telekom International Finance 6.50% Bonds 08.04.2022 3,894,000 4,095,148 0.14 Deutsche Telekom International Finance 7.63% Bonds 15.06.2030 203,000 302,371 0.01 Deutsche Telekom International Finance 8.75% Bonds 15.06.2030 9,230,000 9,637,502 0.32 Deutsche Telekom International Finance 8.88% Bonds 27.11.2028 42,000 63,882 – Diageo Finance 1.75% Bonds 12.10.2026 17,667,000 18,346,400 0.61 DONG Energy 4.88% Bonds 12.01.2032 2,612,000 3,397,491 0.11 DONG Energy 5.75% Bonds 09.04.2040 12,799,000 20,110,291 0.67 Dow Chemical 1.13% Bonds 15.03.2032 12,064,000 10,503,818 0.35 Dow Chemical 1.88% Bonds 15.03.2040 5,896,000 5,303,268 0.18 Dwr Cymru Financing 2.50% Bonds 31.03.2036 1,705,000 1,859,982 0.06 E.ON International Finance 6.65% Bonds 30.04.2038 10,178,000 10,256,684 0.34 Eastern Power Networks 4.75% Bonds 30.09.2021 550,000 557,798 0.02 Eastern Power Networks 5.75% Bonds 08.03.2024 569,000 647,985 0.02 Eastern Power Networks 6.25% Bonds 12.11.2036 4,025,000 6,292,745 0.21 Electricite de France 5.13% Bonds 22.09.2050 4,050,000 6,149,931 0.20 Electricite de France 5.50% Bonds 27.03.2037 200,000 281,755 0.01 Electricite de France 5.50% Bonds 17.10.2041 4,300,000 6,316,780 0.21 Electricite de France 5.88% Bonds 18.07.2031 496,000 668,090 0.02 Electricite de France 6.00% Bonds 23.01.2114 1,400,000 2,431,879 0.08 Electricite de France 6.13% Bonds 02.06.2034 4,950,000 7,121,228 0.24 Electricite de France 6.25% Bonds 30.05.2028 2,050,000 2,680,061 0.09 Electricite de France 6.88% Bonds 12.12.2022 350,000 383,935 0.01 ENEL Finance International 1.00% Bonds 20.10.2027 3,468,000 3,404,361 0.11 ENEL Finance International 5.63% Bonds 14.08.2024 2,720,000 3,138,431 0.10 ENEL Finance International 5.75% Bonds 22.06.2037 120,000 172,378 0.01 ENEL Finance International 5.75% Bonds 14.09.2040 6,820,000 10,191,079 0.34 Engie 5.00% Bonds 01.10.2060 5,150,000 8,349,286 0.28

37 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 79.68%) (Continued) Engie 7.00% Bonds 30.10.2028 5,500,000 7,628,167 0.25 ENI Finance International 3.63% Bonds 29.01.2029 1,122,000 1,206,619 0.04 ENI Finance International 4.75% Bonds 12.09.2028 3,405,000 2,779,979 0.09 Ennbridge 5.50% Bonds 01.12.2046 1,551,000 1,394,074 0.05 Enterprise Products 3.13% Bonds 31.07.2029 12,467,000 9,354,701 0.31 Enterprise Products 3.70% Bonds 31.01.2051 8,218,000 5,825,322 0.19 Enterprise Products 4.20% Bonds 31.01.2050 4,744,000 3,645,644 0.12 Enterprise Products 4.45% Bonds 15.02.2043 4,763,000 3,810,032 0.13 Equinor 3.13% Bonds 06.04.2030 5,122,000 3,881,005 0.13 Equinor 3.25% Bonds 18.11.2049 4,987,000 3,569,550 0.12 ERAC USA Finance 3.80% Bonds 01.11.2025 687,000 535,578 0.02 ERAC USA Finance 4.20% Bonds 01.11.2046 10,700,000 8,601,823 0.29 ERAC USA Finance 5.63% Bonds 15.03.2042 8,640,000 8,102,319 0.27 ERAC USA Finance 7.00% Bonds 15.10.2037 10,083,000 10,373,445 0.34 Eversholt Funding 2.74% Bonds 30.06.2040 8,409,000 8,707,845 0.29 Eversholt Funding 3.53% Bonds 07.08.2042 9,476,000 10,530,905 0.35 Eversholt Funding 6.36% Bonds 02.12.2025 2,662,000 3,286,937 0.11 Eversholt Funding 6.70% Bonds 22.02.2035 1,211,000 1,564,334 0.05 Gatwick Funding 2.63% Bonds 07.10.2046 7,297,000 6,741,014 0.22 Gatwick Funding 3.13% Bonds 28.09.2039 2,992,000 3,046,430 0.10 Gatwick Funding 4.63% Bonds 27.03.2034 1,887,000 2,249,905 0.07 Gatwick Funding 5.25% Bonds 23.01.2024 3,354,000 3,715,653 0.12 Gatwick Funding 5.75% Bonds 23.01.2037 3,874,000 5,176,452 0.17 Gatwick Funding 6.13% Bonds 02.03.2026 2,068,000 2,483,170 0.08 Gatwick Funding 6.50% Bonds 02.03.2041 2,450,000 3,629,123 0.12 GE Capital UK Funding 5.88% Bonds 18.01.2033 2,803,000 3,807,890 0.13 GE Capital UK Funding 6.25% Bonds 05.05.2038 447,000 656,747 0.02 GE Capital UK Funding 8.00% Bonds 14.01.2039 5,126,000 8,681,538 0.29 General Electric Capital 4.88% Bonds 18.09.2037 1,588,000 1,877,550 0.06 General Electric Capital 5.25% Bonds 07.12.2028 525,000 653,388 0.02 General Electric Capital 5.38% Bonds 18.12.2040 4,098,000 5,629,243 0.19 General Electric Capital 5.50% Bonds 07.06.2021 3,907,000 3,909,848 0.13 GlaxoSmithKline Capital 3.38% Bonds 20.12.2027 1,640,000 1,866,529 0.06 GlaxoSmithKline Capital 4.25% Bonds 18.12.2045 1,079,000 1,521,099 0.05 GlaxoSmithKline Capital 5.25% Bonds 19.12.2033 465,000 649,356 0.02 GlaxoSmithKline Capital 5.25% Bonds 10.04.2042 7,004,000 10,747,769 0.36 GlaxoSmithKline Capital 6.38% Bonds 09.03.2039 350,000 576,438 0.02 Goldman Sachs 3.13% Bonds 25.07.2029 376,000 416,959 0.01 Goldman Sachs 4.25% Bonds 29.01.2026 2,447,000 2,785,192 0.09 Goldman Sachs 5.50% Bonds 12.10.2021 57,000 57,990 – Goldman Sachs 6.88% Bonds 18.01.2038 4,962,000 7,817,869 0.26 Goldman Sachs 7.13% Bonds 07.08.2025 4,020,000 5,010,930 0.17 Goldman Sachs 7.25% Bonds 10.04.2028 5,597,000 7,646,038 0.25 Great Rolling Stock 6.50% Bonds 05.04.2031 2,005,255 2,558,113 0.08 Great Rolling Stock 6.88% Bonds 27.07.2035 313,786 407,007 0.01 Greene King Finance 3.59% Bonds 15.03.2035 6,538,955 6,920,088 0.23 HBOS Treasury Services 4.88% Bonds 20.12.2024 1,061,000 1,225,741 0.04 Heathrow Funding 2.75% Bonds 13.10.2029 1,348,000 1,395,544 0.05 Heathrow Funding 2.75% Bonds 09.08.2049 200,000 196,056 0.01 Heathrow Funding 4.63% Bonds 31.10.2046 9,273,000 12,021,862 0.40 Heathrow Funding 5.23% Bonds 15.02.2023 143,000 153,469 0.01 Heathrow Funding 5.88% Bonds 13.05.2041 2,895,000 4,162,520 0.14 Heathrow Funding 6.45% Bonds 10.12.2031 2,566,000 3,510,426 0.12 Heathrow Funding 6.75% Bonds 03.12.2026 937,000 1,185,860 0.04 Heathrow Funding 7.08% Bonds 04.08.2028 169,000 224,450 0.01 Housing and Care 21 3.29% Bonds 08.11.2049 9,642,000 11,210,078 0.37 HSBC Bank 2.63% Bonds 16.08.2028 993,000 1,053,095 0.03 HSBC Bank 4.75% Bonds 24.03.2046 573,000 787,352 0.03 HSBC Bank 5.38% Bonds 22.08.2033 670,000 890,279 0.03

38 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 79.68%) (Continued) HSBC Bank 5.75% Bonds 20.12.2027 1,431,000 1,756,001 0.06 HSBC Bank 6.00% Bonds 29.03.2040 7,656,000 10,872,611 0.36 HSBC Bank 6.25% Bonds 30.01.2041 10,000 15,629 – HSBC Bank 6.75% Bonds 11.09.2028 2,150,000 2,808,881 0.09 HSBC Bank 7.00% Bonds 07.04.2038 1,650,000 2,522,170 0.08 Iberdrola Finanzas 6.00% Bonds 01.07.2022 2,600,000 2,754,635 0.09 Iberdrola Finanzas 7.38% Bonds 29.01.2024 4,500,000 5,289,458 0.18 Iberdrola International 6.75% Bonds 15.07.2036 5,155,000 5,453,577 0.18 Incommunities Treasury 3.25% Bonds 21.03.2049 5,871,000 7,199,441 0.24 ING Groep 3.00% Bonds 18.02.2026 9,600,000 10,388,842 0.34 Innogy Finance 4.75% Bonds 31.01.2034 1,800,000 2,282,909 0.08 Innogy Finance 6.13% Bonds 06.07.2039 4,900,000 7,478,859 0.25 Innogy Finance 6.25% Bonds 03.06.2030 2,867,000 3,867,940 0.13 International Bank for Reconstruction and Development 1.00% Bonds 21.12.2029 28,509,000 28,629,662 0.95 Intu SGS Finance 3.88% Bonds 17.03.2023 12,687,000 8,817,465 0.29 Intu SGS Finance 4.25% Bonds 17.09.2030 8,549,000 5,973,487 0.20 Intu SGS Finance 4.63% Bonds 17.03.2028 7,529,000 5,261,982 0.17 JM Smucker 4.25% Bonds 15.03.2035 12,573,000 10,093,335 0.33 Johnson & Johnson 5.50% Bonds 06.11.2024 3,600,000 4,210,892 0.14 Juturna European Loan Conduit 5.06% Bonds 10.08.2033 2,916,329 3,602,992 0.12 Koninklijke KPN 5.00% Bonds 18.11.2026 362,000 411,579 0.01 Koninklijke KPN 5.75% Bonds 17.09.2029 4,454,000 5,353,998 0.18 Koninklijke KPN 8.38% Bonds 01.10.2030 6,589,000 6,477,396 0.21 Kraft Heinz Foods 4.13% Bonds 01.07.2027 11,201,000 12,512,144 0.42 Land Securities Capital Markets 1.97% Bonds 08.02.2024 9,710,000 9,959,197 0.33 Land Securities Capital Markets 2.38% Bonds 29.03.2027 1,648,000 1,734,918 0.06 Land Securities Capital Markets 2.40% Bonds 08.02.2029 4,287,000 4,519,852 0.15 Land Securities Capital Markets 2.63% Bonds 22.09.2037 741,000 788,194 0.03 Land Securities Capital Markets 2.75% Bonds 22.09.2057 6,365,000 7,072,152 0.23 Legal & General Finance 5.88% Bonds 11.12.2031 82,000 115,228 – Libra Longhurst 3.25% Bonds 15.05.2043 5,280,000 6,118,911 0.20 Lloyds Bank 2.25% Bonds 16.10.2024 200,000 208,224 0.01 Lloyds Bank 5.13% Bonds 07.03.2025 906,000 1,062,238 0.04 Lloyds Bank 6.00% Bonds 08.02.2029 1,150,000 1,566,955 0.05 Lloyds Bank 6.50% Bonds 17.09.2040 2,544,000 4,335,975 0.14 Lloyds Bank 7.50% Bonds 15.04.2024 2,886,000 3,441,159 0.11 Lloyds Bank 7.63% Bonds 22.04.2025 1,120,000 1,394,020 0.05 London & Quadrant Housing Trust 2.25% Bonds 20.07.2029 794,000 835,606 0.03 London & Quadrant Housing Trust 3.13% Bonds 28.02.2053 6,715,000 8,006,521 0.27 London & Quadrant Housing Trust 3.75% Bonds 27.10.2049 100,000 130,756 – London & Quadrant Housing Trust 4.63% Bonds 05.12.2033 1,252,000 1,638,815 0.05 London & Quadrant Housing Trust 5.50% Bonds 27.01.2040 10,707,000 16,148,368 0.54 London Power Networks 2.63% Bonds 01.03.2029 4,857,000 5,223,356 0.17 London Power Networks 5.13% Bonds 31.03.2023 333,000 360,751 0.01 London Power Networks 6.13% Bonds 07.06.2027 2,216,000 2,831,039 0.09 Manchester Airport 2.88% Bonds 30.09.2044 13,489,000 13,366,527 0.44 Manchester Airport 4.13% Bonds 02.04.2024 350,000 379,203 0.01 Manchester Airport 4.75% Bonds 31.03.2034 1,208,000 1,488,637 0.05 MassMutual Global Funding II 1.38% Bonds 15.12.2026 24,185,000 24,665,886 0.82 McDonald's 2.95% Bonds 15.03.2034 1,900,000 2,110,417 0.07 McDonald's 4.13% Bonds 11.06.2054 9,800,000 13,864,150 0.46 McDonald's 4.20% Bonds 01.04.2050 198,000 161,466 0.01 McDonald's 5.88% Bonds 23.04.2032 6,791,000 9,481,572 0.31 Medtronic Global Holdings 1.00% Bonds 02.07.2031 4,125,000 3,655,249 0.12 Medtronic Global Holdings 1.50% Bonds 02.07.2039 6,801,000 5,936,455 0.20 Medtronic Global Holdings 1.75% Bonds 02.07.2049 3,693,000 3,224,095 0.11 MetLife 4.60% Bonds 13.05.2046 171,000 149,643 – MetLife 5.38% Bonds 09.12.2024 1,599,000 1,852,401 0.06

39 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 79.68%) (Continued) Metropolitan Funding 4.13% Bonds 05.04.2048 2,982,000 3,804,506 0.13 Metropolitan Life Global Funding I 0.63% Bonds 08.12.2027 17,346,000 16,649,125 0.55 Metropolitan Life Global Funding I 1.13% Bonds 15.12.2021 5,349,000 5,373,680 0.18 Metropolitan Life Global Funding I 2.63% Bonds 05.12.2022 519,000 536,453 0.02 Mondelez International 3.88% Bonds 06.03.2045 9,669,000 11,476,813 0.38 Mondelez International 4.50% Bonds 03.12.2035 289,000 364,954 0.01 Morgan Stanley 2.63% Bonds 09.03.2027 17,422,000 18,672,753 0.62 Motability Operations Group 2.38% Bonds 14.03.2032 6,975,000 7,465,182 0.25 Motability Operations Group 3.75% Bonds 16.07.2026 400,000 457,610 0.02 Motability Operations Group 4.38% Bonds 08.02.2027 300,000 355,130 0.01 Motability Operations Group 5.63% Bonds 29.11.2030 175,000 238,693 0.01 National Australia Bank 1.13% Bonds 10.11.2021 10,723,000 10,768,519 0.36 National Australia Bank 3.00% Bonds 04.09.2026 9,738,000 10,844,809 0.36 Nestle Finance International 2.25% Bonds 30.11.2023 1,069,000 1,120,900 0.04 Nestle Holdings 1.00% Bonds 11.06.2021 1,129,000 1,129,195 0.04 New York Life Insurance 3.75% Bonds 15.05.2050 8,985,000 6,778,986 0.22 NIE Finance 2.50% Bonds 27.10.2025 6,920,000 7,346,717 0.24 NIE Finance 6.38% Bonds 02.06.2026 9,476,000 11,904,981 0.40 Northwestern Mutual Global Funding 0.60% Bonds 25.03.2024 15,782,000 11,161,867 0.37 Notting Hill Genesis 2.88% Bonds 31.01.2029 2,090,000 2,269,027 0.08 Notting Hill Housing Trust 3.25% Bonds 12.10.2048 15,895,000 18,911,380 0.63 Notting Hill Housing Trust 3.75% Bonds 20.12.2032 1,036,000 1,235,889 0.04 Notting Hill Housing Trust 4.38% Bonds 20.02.2054 2,925,000 4,300,477 0.14 Notting Hill Housing Trust 5.25% Bonds 07.07.2042 1,650,000 2,467,738 0.08 Nutrien 4.20% Bonds 01.04.2029 9,592,000 7,726,218 0.26 OP Corporate Bank 2.50% Bonds 18.02.2049 6,205,000 6,158,850 0.20 Optivo Finance 2.86% Bonds 07.10.2035 7,702,000 8,557,428 0.28 Orange 5.25% Bonds 05.12.2025 359,000 429,377 0.01 Orange 5.38% Bonds 22.11.2050 1,850,000 2,978,450 0.10 Orange 5.63% Bonds 23.01.2034 1,049,000 1,482,455 0.05 Orange 8.13% Bonds 20.11.2028 1,067,000 1,566,272 0.05 Orange 9.00% Bonds 01.03.2031 7,252,000 7,967,169 0.26 Oxford University 2.54% Bonds 08.12.2117 6,567,000 8,143,491 0.27 Pension Insurance Corporation 4.63% Bonds 07.05.2031 11,044,000 12,517,363 0.42 Pension Insurance Corporation 8.00% Bonds 23.11.2026 11,509,000 14,996,946 0.50 Pfizer 7.20% Bonds 15.03.2039 4,513,000 5,051,708 0.17 Phoenix Group Holdings 5.63% Bonds 28.04.2031 23,769,000 28,718,432 0.95 Procter & Gamble 1.38% Bonds 03.05.2025 21,034,000 21,751,572 0.72 Procter & Gamble 1.80% Bonds 03.05.2029 600,000 632,690 0.02 Procter & Gamble 6.25% Bonds 31.01.2030 1,331,000 1,870,740 0.06 Prologis 2.25% Bonds 30.06.2029 7,057,000 7,493,303 0.25 RAC Bond 4.57% Bonds 06.05.2023 9,166,000 9,551,579 0.32 RAC Bond 4.87% Bonds 06.05.2026 17,297,000 18,881,275 0.63 Realty Income 1.63% Bonds 15.12.2030 17,420,000 17,165,060 0.57 Rothesay Life 19/26 3.38% Bonds 12.07.2026 4,560,000 4,881,713 0.16 Royal Bank of Canada 1.13% Bonds 22.12.2021 14,620,000 14,697,106 0.49 Sanctuary Capital 2.38% Bonds 14.04.2050 3,148,000 3,301,575 0.11 Sanctuary Capital 5.00% Bonds 26.04.2047 5,819,000 9,189,918 0.31 Sanctuary Capital 6.70% Bonds 23.03.2039 608,000 1,038,635 0.03 Santander UK 3.63% Bonds 14.01.2026 812,000 894,708 0.03 Santander UK 5.75% Bonds 02.03.2026 600,000 742,498 0.02 Scentre Trust 2.38% Bonds 08.04.2022 2,553,000 2,583,414 0.09 Scentre Trust 3.88% Bonds 16.07.2026 8,413,000 9,401,010 0.31 Scottish Widows 5.50% Bonds 16.06.2023 3,115,000 3,392,097 0.11 Scottish Widows 7.00% Bonds 16.06.2043 6,365,000 9,375,972 0.31 Shell International Finance 1.00% Bonds 10.12.2030 20,637,000 19,493,545 0.65 Shell International Finance 3.13% Bonds 07.11.2049 7,303,000 5,121,221 0.17 Silverback Finance 3.13% Bonds 25.02.2037 5,507,170 4,799,087 0.16 Silverback Finance 3.75% Bonds 25.05.2039 7,179,000 6,292,988 0.21

40 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 79.68%) (Continued) Skandinaviska Enskilda Banken 1.25% Bonds 05.08.2022 13,456,000 13,610,048 0.45 Sky 4.00% Bonds 26.11.2029 150,000 178,736 0.01 Sky 6.00% Bonds 21.05.2027 1,150,000 1,464,841 0.05 South Eastern Power Networks 4.50% Bonds 31.03.2052 2,459,000 3,796,559 0.13 South Eastern Power Networks 5.50% Bonds 05.06.2026 586,000 709,865 0.02 South Eastern Power Networks 5.63% Bonds 30.09.2030 223,000 298,007 0.01 South Eastern Power Networks 6.19% Bonds 31.03.2029 614,000 816,748 0.03 South Eastern Power Networks 6.38% Bonds 12.11.2031 1,189,000 1,705,452 0.06 South Eastern Power Networks 6.64% Bonds 31.03.2026 565,000 698,582 0.02 Southern Gas Networks 3.10% Bonds 15.09.2036 3,963,000 4,395,681 0.15 Southern Gas Networks 4.88% Bonds 21.03.2029 1,189,000 1,479,982 0.05 Southern Electric Power Distribution 4.63% Bonds 20.02.2037 150,000 198,142 0.01 Sovereign Housing Capital 4.77% Bonds 01.06.2043 2,822,000 4,207,308 0.14 Sovereign Housing Capital 5.71% Bonds 10.09.2039 250,000 395,161 0.01 SP Manweb 4.88% Bonds 20.09.2027 354,000 429,360 0.01 Spectra Energy Partners 3.50% Bonds 15.03.2025 7,333,000 5,599,039 0.19 Spectra Energy Partners 4.50% Bonds 15.03.2045 21,703,000 17,244,071 0.57 SSE 5.88% Bonds 22.09.2022 928,000 993,310 0.03 SSE 6.25% Bonds 27.08.2038 300,000 468,055 0.02 SSE 8.38% Bonds 20.11.2028 943,000 1,382,882 0.05 Statoil 4.80% Bonds 08.11.2043 1,724,000 1,540,387 0.05 Statoil 6.13% Bonds 27.11.2028 2,450,000 3,279,049 0.11 Statoil 6.88% Bonds 11.03.2031 7,575,000 11,146,215 0.37 Student Finance 2.67% Bonds 30.09.2024 14,497,000 14,660,664 0.49 Swedbank 1.25% Bonds 29.12.2021 5,678,000 5,711,608 0.19 Sydney Airport Finance 3.38% Bonds 30.04.2025 18,807,000 14,245,258 0.47 Sydney Airport Finance 3.38% Bonds 30.04.2025 2,580,000 1,954,207 0.06 Sydney Airport Finance 3.63% Bonds 28.04.2026 3,736,000 2,864,602 0.10 Telefonica Emisiones 5.29% Bonds 09.12.2022 1,700,000 1,821,211 0.06 Telefonica Emisiones 5.38% Bonds 02.02.2026 734,000 868,554 0.03 Telefonica Emisiones 7.05% Bonds 20.06.2036 12,728,000 12,645,342 0.42 Telefonica Europe 8.25% Bonds 15.09.2030 5,641,000 5,721,035 0.19 Tesco Property Finance 1 7.62% Bonds 13.07.2039 613,919 908,803 0.03 Tesco Property Finance 2 6.05% Bonds 13.10.2039 568,881 752,713 0.03 Tesco Property Finance 3 5.74% Bonds 13.04.2040 6,931,158 9,212,418 0.31 Tesco Property Finance 4 5.80% Bonds 13.10.2040 4,514,696 6,019,094 0.20 Tesco Property Finance 5 5.66% Bonds 13.10.2041 2,927,998 3,886,737 0.13 Thames Water Utilities Finance 2.63% Bonds 24.01.2032 575,000 605,462 0.02 Thames Water Utilities Finance 4.00% Bonds 19.06.2025 700,000 785,917 0.03 Thames Water Utilities Finance 4.63% Bonds 04.06.2046 310,000 432,281 0.01 Thames Water Utilities Finance 5.13% Bonds 28.09.2037 2,587,000 3,548,708 0.12 Thames Water Utilities Finance 5.50% Bonds 11.02.2041 5,350,000 7,846,015 0.26 Thames Water Utilities Finance 6.50% Bonds 09.02.2032 400,000 568,058 0.02 Thames Water Utilities Finance 6.75% Bonds 16.11.2028 80,000 107,947 – Time Warner Cable 5.25% Bonds 15.07.2042 13,178,000 17,248,542 0.57 Time Warner Cable 5.75% Bonds 02.06.2031 9,011,000 11,423,795 0.38 Toronto-Dominion Bank 1.00% Bonds 13.12.2021 4,533,000 4,553,004 0.15 Total Capital 1.25% Bonds 16.12.2024 203,000 206,976 0.01 Total Capital 1.41% Bonds 03.09.2031 19,400,000 18,936,621 0.63 Total Capital 2.25% Bonds 09.06.2022 364,000 371,383 0.01 Toyota Finance Australia 1.63% Bonds 11.07.2022 1,597,000 1,619,782 0.05 Toyota Motor Credit 1.00% Bonds 27.09.2022 9,931,000 10,011,755 0.33 Toyota Motor Credit 1.13% Bonds 07.09.2021 3,855,000 3,863,631 0.13 Transport for London 4.00% Bonds 07.04.2064 2,446,000 3,769,024 0.13 Transport for London 4.50% Bonds 31.03.2031 9,241,000 10,952,492 0.36 UBS Funding Switzerland 2.65% Bonds 01.02.2022 10,735,000 7,688,434 0.26 United Airlines 2013-1 4.30% Bonds 15.08.2025 1,154,434 849,586 0.03 United Airlines 2014-1 4.00% Bonds 11.04.2026 7,725,871 5,728,672 0.19 United Airlines 2019-1 4.15% Bonds 25.08.2031 9,527,070 7,277,567 0.24

41 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 79.68%) (Continued) United Utilities Water 2.63% Bonds 12.02.2031 7,431,000 8,055,027 0.27 United Utilities Water 5.00% Bonds 28.02.2035 100,000 137,307 – United Utilities Water 5.63% Bonds 20.12.2027 928,000 1,184,218 0.04 University College London 1.63% Bonds 04.06.2061 22,331,000 21,649,905 0.72 University of Cambridge 2.35% Bonds 27.06.2078 1,926,000 2,627,526 0.09 University of Cambridge 3.75% Bonds 17.10.2052 648,000 997,466 0.03 University of Southhampton 2.25% Bonds 11.04.2057 9,193,000 9,630,319 0.32 Vattenfall 6.88% Bonds 15.04.2039 9,916,000 17,133,089 0.57 Verizon Communications 2.50% Bonds 08.04.2031 7,124,000 7,478,566 0.25 Verizon Communications 3.13% Bonds 02.11.2035 3,091,000 3,446,238 0.11 Verizon Communications 3.38% Bonds 27.10.2036 2,796,000 3,213,035 0.11 Verizon Communications 4.07% Bonds 18.06.2024 888,000 980,342 0.03 Verizon Communications 4.75% Bonds 17.02.2034 881,000 1,144,050 0.04 Vodafone 3.00% Bonds 12.08.2056 14,949,000 15,871,249 0.53 Vodafone 5.63% Bonds 04.12.2025 324,000 393,453 0.01 Vodafone 5.90% Bonds 26.11.2032 163,000 231,915 0.01 Volkswagen Financial Services 1.63% Bonds 09.06.2022 21,200,000 21,413,113 0.71 Volkswagen Financial Services 1.88% Bonds 03.12.2024 5,200,000 5,348,147 0.18 Volkswagen Financial Services 2.25% Bonds 12.04.2025 405,000 422,798 0.01 Wal-Mart Stores 4.88% Bonds 19.01.2039 1,107,000 1,649,002 0.05 Wal-Mart Stores 5.25% Bonds 28.09.2035 1,157,000 1,697,340 0.06 Wal-Mart Stores 5.75% Bonds 19.12.2030 1,133,000 1,585,367 0.05 Wellcome Trust Finance 2.52% Bonds 07.02.2118 5,931,000 7,292,135 0.24 Wellcome Trust Finance 4.00% Bonds 09.05.2059 100,000 171,177 0.01 Wellcome Trust Finance 4.63% Bonds 25.07.2036 200,000 289,293 0.01 Wells Fargo 2.00% Bonds 28.07.2025 739,000 765,555 0.03 Wells Fargo 2.13% Bonds 22.04.2022 931,000 944,317 0.03 Wells Fargo 3.50% Bonds 12.09.2029 3,114,000 3,518,130 0.12 Wells Fargo 4.63% Bonds 02.11.2035 2,972,000 3,859,453 0.13 Wells Fargo 4.88% Bonds 29.11.2035 12,700,000 16,448,818 0.55 Wells Fargo 4.90% Bonds 17.11.2045 151,000 130,651 – Wells Fargo 5.25% Bonds 01.08.2023 950,000 1,038,869 0.03 Welltower 4.50% Bonds 01.12.2034 172,000 208,258 0.01 Welltower 4.80% Bonds 20.11.2028 7,977,000 9,459,291 0.31 Western Power Distribution East Midlands 5.25% Bonds 17.01.2023 975,000 1,048,492 0.03 Western Power Distribution East Midlands 6.00% Bonds 09.05.2025 734,000 876,626 0.03 Western Power Distribution East Midlands 6.25% Bonds 10.12.2040 2,181,000 3,522,844 0.12 Western Power Distribution South Wales 5.75% Bonds 23.03.2040 2,700,000 4,108,267 0.14 Western Power Distribution South West 2.38% Bonds 16.05.2029 5,522,000 5,830,461 0.19 Western Power Distribution South West 5.75% Bonds 23.03.2040 300,000 456,474 0.02 Western Power Distribution South West 5.88% Bonds 25.03.2027 405,000 506,598 0.02 Western Power Distribution West Midlands 3.88% Bonds 17.10.2024 480,000 524,905 0.02 Western Power Distribution West Midlands 5.75% Bonds 16.04.2032 3,788,000 5,198,448 0.17 Westpac Banking 1.00% Bonds 30.06.2022 10,035,000 10,119,238 0.34 Westpac Banking 2.63% Bonds 14.12.2022 3,114,000 3,223,180 0.11 White City Property Finance 5.12% Bonds 17.04.2035 2,910,724 3,663,712 0.12 Yorkshire Water Services Finance 2.75% Bonds 18.04.2041 5,508,000 6,008,520 0.20 Yorkshire Water Services Finance 3.63% Bonds 01.08.2029 1,640,000 1,886,515 0.06 Yorkshire Water Services Finance 5.50% Bonds 28.05.2037 1,300,000 1,913,862 0.06 Yorkshire Water Services Finance 6.38% Bonds 19.08.2039 2,111,000 3,450,197 0.11 Yorkshire Water Services Finance 6.45% Bonds 28.05.2027 340,000 434,713 0.01 Yorkshire Water Services Finance 6.59% Bonds 21.02.2023 394,000 434,395 0.01

Total value of corporate bonds 2,285,908,480 75.86

Floating rate notes (30 November 2020: 7.44%) AXA 3.25% FRN 28.05.2049 1,700,000 1,668,320 0.06 AXA 5.13% FRN 04.07.2043 3,393,000 3,218,602 0.11 AXA 5.63% FRN 16.01.2054 17,327,000 21,832,360 0.72

42 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Floating rate notes (30 November 2020: 7.44%) (Continued) Berg Finance Series 2021-1 Class A 1.05% FRN 22.07.2033 28,596,000 24,617,251 0.82 Berg Finance Series 2021-1 Class B 0.00% FRN 22.07.2026 8,797,000 7,572,679 0.25 BNP Paribas 2.00% FRN 24.05.2031 2,500,000 2,521,205 0.08 Canadian Imperial Bank of Commerce 0.48% FRN 10.01.2022 1,100,000 1,102,293 0.04 Channel Link Enterprises Finance 2.71% FRN 30.06.2050 11,057,000 9,671,948 0.32 Channel Link Enterprises Finance 3.04% FRN 30.06.2050 8,769,000 8,856,818 0.29 Citigroup 4.41% FRN 31.03.2031 5,409,000 4,387,043 0.15 Credit Agricole Assurances 2.63% FRN 29.01.2048 1,600,000 1,466,757 0.05 Greene King Finance 2.56% FRN 15.12.2033 141,872 140,856 – HSBC Bank 2.26% FRN 13.11.2026 525,000 545,727 0.02 HSBC Bank 3.00% FRN 22.07.2028 5,373,000 5,787,409 0.19 HSBC Bank 5.38% FRN 04.11.2030 1,323,000 1,552,675 0.05 ING Groep 1.13% FRN 07.12.2028 15,200,000 14,814,580 0.49 ING Groep 3.00% FRN 11.04.2028 2,300,000 2,077,244 0.07 Interstar Millennium Trust 1.47% FRN 27.07.2038 360,894 246,985 0.01 JP Morgan 1.90% FRN 28.04.2033 19,699,000 19,757,302 0.66 Legal & General Group 4.50% FRN 01.11.2050 4,892,000 5,561,507 0.18 Legal & General Group 5.13% FRN 14.11.2048 14,735,000 17,267,782 0.57 Legal & General Group 5.38% FRN 27.10.2045 475,000 546,394 0.02 Marstons Issuer 1.67% FRN 15.10.2031 28,863 25,852 – Marstons Issuer 5.18% FRN 15.07.2032 9,073,000 9,481,276 0.31 Muenchener Rueckversicherungs-Gesellschaftin Muenchen 6.63% FRN 26.05.2042 3,000,000 3,171,819 0.11 Prudential 5.56% FRN 20.07.2055 691,000 817,529 0.03 Prudential 5.63% FRN 20.10.2051 8,979,000 10,671,910 0.35 Prudential 6.25% FRN 20.10.2068 12,409,000 15,962,347 0.53 Prudential 6.34% FRN 19.12.2063 2,181,000 2,801,451 0.09 RL Finance Bonds No.4 4.88% FRN 07.10.2049 26,106,000 29,304,578 0.97 Rothesay Life 19/26 5.50% FRN 17.09.2029 18,813,000 21,000,848 0.70 Royal Bank of Scotland 3.62% FRN 14.08.2030 15,296,000 16,327,881 0.54 Santander UK 0.28% FRN 16.11.2022 3,544,000 3,552,959 0.12 Telereal Securitisation 0.80% FRN 10.12.2031 71,000 60,821 – Yorkshire Building Society 3.00% FRN 18.04.2025 7,564,000 7,988,523 0.27 Yorkshire Water Services Finance 3.75% FRN 22.03.2046 247,000 255,452 0.01

Total value of floating rate notes 276,636,983 9.18

Government bonds (30 November 2020: 1.90%) UK Municipal Bonds Agency Finance Company 1.63% Bonds 26.08.2060 14,719,000 13,569,621 0.45 United Kingdom (Government of) 0.63% Bonds 07.06.2025 52,843,379 53,694,158 1.78 United Kingdom (Government of) 0.75% Bonds 22.07.2023 19,666,264 19,959,095 0.66 United Kingdom (Government of) 4.25% Bonds 07.09.2039 1,870,000 2,805,187 0.10 United Kingdom (Government of) 4.50% Bonds 07.12.2042 19,758,994 31,819,883 1.06

Total value of government bonds 121,847,944 4.05

Mortgage backed securities (30 November 2020: 1.80%) Delamare Finance 5.55% MBS 19.02.2029 872,056 1,007,038 0.03 Equity Release Funding No.3 5.05% MBS 26.04.2033 13,767,761 16,870,843 0.56 Green Storm 0.21% MBS 22.02.2068 10,200,000 9,040,474 0.30 Interstar Millennium Trust 0.16% MBS 07.05.2036 334,697 283,099 0.01 Interstar Millennium Trust 0.47% MBS 27.03.2038 248,796 127,986 0.01 Interstar Millennium Trust 0.52% MBS 07.11.2039 210,773 110,059 – Interstar Millennium Trust 0.65% MBS 08.12.2036 869,695 612,169 0.02 Interstar Millennium Trust 0.73% MBS 27.09.2035 156,138 109,606 – Rochester Financing No.2 1.35% MBS 18.06.2045 1,771,481 1,772,570 0.06 Taurus 2021-3 DEU 1.20% MBS 22.12.2030 26,087,000 22,410,921 0.74 Tesco Property Finance 6 5.41% MBS 13.07.2044 4,215,969 5,459,331 0.18

43 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 1.80%) (Continued) Westfield Stratford City Finance 1.64% MBS 04.08.2026 25,515,000 25,441,084 0.85

Total value of mortgage backed securities 83,245,180 2.76

Total value of transferable securities 2,916,616,492 96.80

Interest rate swaps (30 November 2020: 0.88%) IRS USD RCV 3M LIBOR Pay 0.92% 17.03.2040 80,150,000 9,291,830 0.31 IRS USD RCV 3M LIBOR Pay 0.92% 17.03.2046 31,500,000 4,767,035 0.16 IRS GBP RCV 1.48% Pay 1D SONIA 13.11.2032 48,855,000 3,929,993 0.13 IRS GBP RCV 1.37% Pay 1D SONIA 15.11.2033 35,960,000 2,496,620 0.08 IRS GBP RCV 1.53% Pay 1D SONIA 13.11.2038 19,444,000 2,044,865 0.07 IRS USD RCV 3M LIBOR Pay 0.89% 17.10.2030 35,000,000 1,361,356 0.04 IRS GBP RCV 1.53% Pay 1D SONIA 13.11.2038 9,722,000 1,022,432 0.03 IRS USD RCV 3M LIBOR Pay 0.84% 17.03.2028 46,000,000 778,086 0.03 IRS GBP RCV 1.18% Pay 1D SONIA 02.10.2023 22,420,000 691,146 0.02 IRS GBP RCV 1.45% Pay 1D SONIA 15.11.2043 5,290,000 583,673 0.02 IRS GBP RCV 0.41% Pay 1D SONIA 01.10.2024 84,900,000 548,742 0.02 IRS GBP RCV 1.06% Pay 1D SONIA 13.11.2021 25,538,850 259,490 0.01 IRS GBP RCV 1.06% Pay 1D SONIA 13.11.2021 19,266,150 195,755 0.01 IRS GBP RCV 1.49% Pay 1D SONIA 05.11.2038 1,000,000 98,549 – IRS GBP RCV 0.87% Pay 1D SONIA 02.07.2039 (7,800,000) (18,850) – OIS GBP Rcv 0.71% Pay SONIA 1D 12.02.2045 (25,850,000) (1,219,083) (0.04)

Unrealised gain on interest rate swaps (30 November 2020: 0.90%) 28,069,572 0.93 Unrealised loss on interest rate swaps (30 November 2020: (0.02%)) (1,237,933) (0.04) Net unrealised gain on interest rate swaps 26,831,639 0.89

Forward currency contracts (30 November 2020: 0.47%)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

Barclays Bank 11.06.2021 GBP 105,420,069 USD 144,617,000 3,517,555 0.12 Goldman Sachs 25.06.2021 GBP 70,393,393 USD 96,911,000 2,107,649 0.07 Morgan Stanley 09.07.2021 GBP 84,310,888 USD 117,445,000 1,557,420 0.05 Lloyds Bank 01.07.2021 GBP 42,124,607 EUR 48,360,000 547,295 0.02 Citigroup 25.06.2021 GBP 13,448,576 USD 18,499,000 413,750 0.01 UBS 17.06.2021 GBP 33,606,714 EUR 38,658,000 379,027 0.01 Lloyds Bank 20.07.2021 GBP 72,707,792 USD 102,742,000 314,646 0.01 Barclays Bank 06.08.2021 GBP 99,539,602 USD 140,930,000 239,281 0.01 Royal Bank of Scotland 03.06.2021 GBP 43,872,658 EUR 50,803,000 216,987 0.01 Citigroup 11.06.2021 GBP 4,900,474 USD 6,718,000 166,721 0.01 Lloyds Bank 15.07.2021 GBP 56,062,952 EUR 65,050,000 121,022 – Citigroup 25.06.2021 GBP 3,420,791 USD 4,709,000 102,721 – HSBC Bank 17.06.2021 GBP 32,104,651 EUR 37,325,000 22,717 – Goldman Sachs 01.07.2021 GBP 1,118,829 EUR 1,284,000 14,915 – Barclays Bank 17.06.2021 EUR 10,118,000 GBP 8,691,881 4,837 – HSBC Bank 16.07.2021 GBP 175,186 AUD 315,000 4,048 – Barclays Bank 06.08.2021 GBP 1,646,282 USD 2,331,000 3,842 – UBS 17.06.2021 EUR 7,612,000 GBP 6,576,943 (34,206) – Barclays Bank 09.07.2021 USD 8,700,000 GBP 6,255,454 (125,306) – HSBC Bank 11.06.2021 USD 11,221,000 GBP 8,139,209 (232,475) (0.01)

Unrealised gain on forward currency contracts (30 November 2020: 0.55%) 9,734,433 0.32 Unrealised loss on forward currency contracts (30 November 2020: (0.08%)) (391,987) (0.01) Net unrealised gain on forward currency contracts 9,342,446 0.31

44 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

No. of Unrealised % of Net

Security Description FUTGL Contracts Gain/(Loss) £ WAssets

Futures contracts (30 November 2020: (0.05%)) Future Jun 2021 Euro-Bund Eux (723) 847,859 0.03 Future Sep 2021 Lif Long Gilt 1,942 503,000 0.02 Future Jun 2021 Euro-Buxl Eux (66) 383,940 0.01 Future Sep 2021 US 5 Year T-Note CBT (469) (41,896) – Future Sep 2021 US 10 Year Ultra CBT (596) (85,019) – Future Sep 2021 US Ultra CBT (193) (98,826) – Future Sep 2021 10 Year T-Note (724) (100,208) (0.01) Future Sep 2021 US Long Bond CBT (221) (130,090) (0.01)

Unrealised gain on futures contracts (30 November 2020: 0.01%) 1,734,799 0.06 Unrealised loss on futures contracts (30 November 2020: (0.06%)) (456,039) (0.02) Net unrealised gain on futures contracts 1,278,760 0.04

Value % of Net £ Assets

Total Financial Assets - Investment funds 23,443,532 0.78 Total Financial Assets - Transferable securities 2,916,616,492 96.80 Total Financial Assets - Derivative financial instruments 39,538,804 1.31 Total Financial Liabilities - Derivative financial instruments (2,085,959) (0.07) Total Cost of Investments £2,787,816,322 (2020: £2,645,737,683)

Cash at bank (30 November 2020: 0.00%) 8,782,225 0.29

Collateral and margin cash (30 November 2020: 0.44%) 10,180,751 0.34

Net current assets (30 November 2020: 1.06%) 16,712,700 0.55

Net assets attributable to holders of redeemable shares 3,013,188,545 100.00

% of Total Analysis of Total Assets Assets UCITS and AIFs 0.77 Transferable securities admitted to official stock exchange listing 96.01 Derivative financial instruments dealt in on a regulated market 0.06 Over the counter derivative financial instruments 1.24 Cash and Other Assets 1.92 100.00

Space

^^Related party holdings.

45 Insight Global Funds II PLC Insight Liquid ABS Fund Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Investment funds (30 November 2020: 9.50%) Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2^^ UCITS 381,564,600 381,564,600 9.47

Total value of investment funds 381,564,600 9.47

Asset backed securities (30 November 2020: 22.47%) Alme Loan Funding 2X 0.75% ABS 15.01.2031 13,908,100 11,956,131 0.30 Alme Loan Funding 4X 0.75% ABS 15.01.2032 15,898,000 13,664,500 0.34 Antares Class A CLO 1.75% ABS 20.01.2030 18,702,684 13,206,930 0.33 Aqueduct European CLO 2019-4 0.60% ABS 15.07.2032 666,375 572,665 0.01 Arbor Realty Commercial 0.00% ABS 15.05.2036 6,207,000 4,379,212 0.11 Arbor Realty Commercial 1.29% ABS 15.05.2037 11,689,500 8,257,073 0.21 Arbor Realty Commercial 1.34% ABS 15.06.2034 11,689,500 8,252,031 0.20 Arbour CLO II DAC 0.85% ABS 15.05.2030 5,611,000 4,828,278 0.12 Arbour CLO VIII DAC 0.70% ABS 15.07.2033 1,637,125 1,406,904 0.04 Areit Trust 1.16% ABS 14.09.2036 18,703,000 13,190,546 0.33 Ares European CLO 0.00% ABS 21.10.2033 1,871,000 1,608,262 0.04 Armada Euro III CLO 0.50% ABS 15.07.2031 222,125 190,881 – Aurium CLO IV 0.75% ABS 16.01.2031 4,676,000 4,022,598 0.10 Autonoria 2019 0.15% ABS 25.09.2035 10,174,356 8,805,998 0.22 Avoca CLO XI DAC '11X X' 0.69% ABS 15.07.2030 15,898,000 13,674,900 0.34 Avoca CLO XX DAC '20X X' 0.45% ABS 15.07.2032 311,833 267,948 0.01 Azure Finance No.2 '2 A' 1.15% ABS 20.07.2030 12,388,755 12,436,663 0.31 Barings Euro CLO 2014-2 0.88% ABS 25.11.2029 18,445,954 15,857,735 0.39 Barings Euro CLO 2015-1 0.31% ABS 25.10.2029 828,999 712,237 0.02 Barings Euro CLO 2018-2 0.84% ABS 15.10.2031 17,768,000 15,276,043 0.38 Barings Euro CLO 2019-2 0.00% ABS 24.07.2032 592,333 509,044 0.01 Bavarian Sky 0.67% ABS 20.04.2028 10,207,228 10,228,715 0.25 BlackRock European CLO VIII DAC 0.47% ABS 20.07.2032 444,250 381,749 0.01 Blue Mountain CLO 0.50% ABS 15.01.2033 750,000 644,566 0.02 Bosphorus CLO 5 0.45% ABS 12.12.2032 771,500 662,770 0.02 Bosphorus CLO 5 1.01% ABS 12.12.2032 2,805,500 2,422,089 0.06 Brass No.5 0.55% ABS 16.08.2054 5,931,666 5,942,575 0.15 Brignole 2019-1 0.20% ABS 24.07.2034 8,698,449 7,482,904 0.19 Carlyle GMS Euro CLO 2015-3 DAC 0.75% ABS 15.07.2030 3,273,000 2,815,684 0.07 Carlyle GMS Euro CLO 2017-3 DAC 0.74% ABS 15.01.2031 11,222,000 9,642,566 0.24 Cerberus Loan Funding XXI 1.69% ABS 15.10.2027 900,883 634,791 0.02 Cerberus Loan Funding XXII 1.24% ABS 15.04.2028 3,589,383 2,525,478 0.06 CIFC European Funding CLO I 0.50% ABS 15.07.2032 233,875 200,975 0.01 CIFC Funding LTD 0.00% ABS 20.04.2030 14,600,000 10,287,848 0.26 Contego CLO III 0.77% ABS 15.10.2030 15,430,000 13,274,626 0.33 Contego CLO IV 0.64% ABS 23.01.2030 23,379,000 20,215,854 0.50 Crusade Absolute Trust 1.02% ABS 12.04.2027 756,223 410,886 0.01 CVC Cordatus CLO 0.55% ABS 17.06.2032 1,166,750 1,003,076 0.03 CVC Cordatus Loan Fund X DAC 0.00% ABS 22.06.2034 2,000,000 1,718,564 0.04 CVC Cordatus Loan Fund X DAC 0.72% ABS 27.01.2031 4,676,000 4,022,178 0.10 CVC Cordatus Loan Fund XV 0.57% ABS 26.08.2032 562,500 483,611 0.01 Dowson 2019-1 1.35% ABS 20.09.2026 6,987,747 7,000,528 0.17 Dowson 2020-1 1.55% ABS 20.04.2027 5,193,802 5,234,536 0.13 Dowson 2021-1 0.90% ABS 20.03.2028 18,434,828 18,466,988 0.46 Driver Australia Five Trust 0.99% ABS 21.07.2026 1,588,766 864,336 0.02 Driver Australia Six Trust 0.96% ABS 21.12.2027 14,887,103 8,112,010 0.20 Dryden 39 Euro CLO 2015 0.87% ABS 15.10.2031 28,834,000 24,805,628 0.62 Dryden 44 Euro CLO 2015 0.40% ABS 15.04.2034 1,150,000 988,106 0.02 Dryden 69 Euro CLO 2019 0.44% ABS 18.04.2032 222,125 190,873 – Dunedin park CLO 0.50% ABS 22.10.2032 467,750 401,976 0.01 E-Carat 11 0.63% ABS 18.05.2028 9,320,167 9,342,722 0.23 E-Carat 12 0.00% ABS 18.08.2029 17,000,000 17,002,125 0.42 Euro-Galaxy III CLO 0.62% ABS 24.04.2034 4,750,000 4,080,689 0.10 Euro-Galaxy VI CLO 0.71% ABS 11.04.2031 7,482,000 6,422,789 0.16

46 Insight Global Funds II PLC Insight Liquid ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Asset backed securities (30 November 2020: 22.47%) (Continued) Flatiron CLO 2015-1 1.13% ABS 15.04.2027 2,412,628 1,700,223 0.04 Flexi ABS Trust 2019-1 1.12% ABS 08.07.2024 1,562,197 850,188 0.02 GLG Euro CLO Series 2X Class II 0.87% ABS 15.01.2030 9,347,056 8,034,408 0.20 Globaldrive Auto Receivables 0.59% ABS 20.09.2026 6,130,674 6,134,531 0.15 Goldentree Loan Management EUR CLO 0.70% ABS 20.04.2034 3,000,000 2,113,047 0.05 GoldenTree Loan Management US CLO 0.72% ABS 20.10.2032 233,333 164,425 – Gosforth Funding 2017-1 0.56% ABS 19.12.2059 26,000,007 26,129,070 0.65 Gosforth Funding 2017-1 0.70% ABS 19.12.2059 808,563 570,001 0.01 Grand Harbour CLO 2019-1 1.20% ABS 15.03.2032 20,000,000 17,235,198 0.43 Greystone Commercial Real Estate Notes 1.32% ABS 15.09.2037 14,027,500 9,904,472 0.25 Harvest CLO VIII 0.73% ABS 15.01.2031 2,993,000 2,564,356 0.06 Harvest CLO X 0.67% ABS 15.11.2028 322,113 276,841 0.01 Harvest CLO XII 0.87% ABS 18.11.2030 12,509,000 10,761,312 0.27 Harvest CLO XII 0.87% ABS 18.11.2030 1,500,000 1,290,428 0.03 Harvest CLO XXII 1.10% ABS 15.01.2032 8,463,000 7,303,505 0.18 Holland Park CLO 0.50% ABS 14.11.2032 500,000 429,704 0.01 Hunt CRE 2017 1.14% ABS 15.08.2034 1,536,396 1,084,845 0.03 Invesco Euro CLO V 0.45% ABS 15.01.2034 1,250,000 1,075,126 0.03 Jubilee CLO 2015-XVI 0.32% ABS 15.12.2029 2,951,995 2,532,215 0.06 Kenrick No.3 0.42% ABS 11.10.2054 10,810,438 10,847,745 0.27 Lanterna 0.00% ABS 28.10.2065 1,536,159 1,320,608 0.03 Latitude Australia Credit Card Loan Note Trust 1.16% ABS 22.03.2032 28,055,000 15,366,240 0.38 Latitude Australia Credit Card Loan Note Trust 1.21% ABS 22.09.2025 37,406,000 20,637,505 0.51 Latitude Australia Credit Card Loan Note Trust 1.46% ABS 22.09.2025 11,690,000 6,438,802 0.16 Latitude Australia Credit Card Loan Note Trust 1.51% ABS 22.03.2032 4,300,000 2,357,221 0.06 Latitude Australia Credit Card Loan Note Trust 1.76% ABS 22.08.2031 6,000,000 3,295,306 0.08 Latitude Australia Personal Loans 1.22% ABS 17.01.2028 2,455,607 1,338,878 0.03 Liberty Funding Party Limited 1.31% ABS 25.04.2049 7,757,608 4,224,206 0.10 LMREC 2021-CRE4 1.16% ABS 22.04.2037 6,250,000 4,411,086 0.11 Loancore 2018-CRE1 1.27% ABS 15.05.2028 1,305,217 921,126 0.02 Loancore 2019-CRE2 1.27% ABS 09.05.2036 4,208,500 2,969,030 0.07 Loancore 2019-CRE3 1.19% ABS 15.04.2034 10,662,110 7,521,515 0.19 London Wall Mortgage Capital 0.90% ABS 15.11.2049 5,672,479 5,687,560 0.14 Motor 2016-1 '1A' 1.30% ABS 25.11.2025 209,006 209,578 0.01 MP CLO VIII 2015-2A 1.13% ABS 28.10.2027 18,173,493 12,806,656 0.32 Navient Private Education Refi Loan Trust 2020-A 0.49% ABS 15.11.2068 1,233,058 868,995 0.02 Newday Funding 2018-1 '1X A2' 0.79% ABS 15.08.2026 18,703,000 18,713,174 0.46 Newday Funding 2018-2 '2X A2' 1.04% ABS 15.12.2026 3,895,000 3,900,714 0.10 Newday Funding 2021-1 '1X A1' 1.02% ABS 15.03.2029 11,845,000 11,866,143 0.29 Newday Partnership Funding 2017-1 '1 A' 0.79% ABS 15.12.2027 5,839,000 5,828,840 0.14 Newday Partnership Funding 2017-1 '1 B' 1.39% ABS 15.12.2027 7,157,000 7,181,713 0.18 Newday Partnership Funding 2020-1 '1 X' 1.45% ABS 15.11.2028 22,115,000 22,388,032 0.56 Newstar Clarendon Fund CLO 1.51% ABS 25.01.2027 1,480,813 1,042,861 0.03 Oak Hill European Credit Partners IV '4X A1R' 0.73% ABS 20.01.2032 9,352,000 8,043,796 0.20 Oak Hill European Credit Partners IV '4X A1RE' 0.73% ABS 20.01.2032 4,676,000 4,021,898 0.10 Oak Hill European Credit Partners V '5X A1R' 0.72% ABS 21.02.2030 2,073,195 1,781,936 0.04 Oak Hill European Credit Partners VI '6X A1' 0.73% ABS 20.01.2032 4,676,000 4,019,587 0.10 Oak Street Investment Grade '1A A1' 1.48% ABS 20.01.2051 2,317,470 1,640,031 0.04 OCP Euro CLO 2017-1 0.00% ABS 15.07.2032 250,000 214,831 0.01 OZLME III DAC 0.75% ABS 24.08.2030 14,028,000 12,051,690 0.30 OZLME IV DAC 0.82% ABS 27.07.2032 18,703,000 16,093,509 0.40 PCL Funding III 0.69% ABS 15.06.2023 14,856,000 14,859,521 0.37 PCL Funding IV 1.10% ABS 15.09.2024 16,739,000 16,838,212 0.42 PCL Funding V 0.80% ABS 15.10.2025 11,191,000 11,204,485 0.28 Penarth Master Issuer 0.57% ABS 18.03.2025 20,106,000 20,186,947 0.50 Penarth Master Issuer 0.68% ABS 18.07.2023 23,467,000 16,546,057 0.41 Penarth Master Issuer 0.75% ABS 18.07.2024 10,598,000 10,639,428 0.26 Penta CLO 2 0.79% ABS 04.08.2028 3,161,294 2,721,523 0.07 Pepper I-Prime 2018-2 Trust 1.17% ABS 13.03.2050 17,467,728 9,581,544 0.24

47 Insight Global Funds II PLC Insight Liquid ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Asset backed securities (30 November 2020: 22.47%) (Continued) Pepper Residential Securities Trust No.29 0.84% ABS 14.10.2062 26,000,000 14,164,199 0.35 Purple Master Credit Cards 0.17% ABS 25.05.2034 9,900,000 8,585,955 0.21 Regatta VII Funding 1.29% ABS 20.12.2028 12,689,477 8,947,349 0.22 Rockford Tower Europe CLO 1.03% ABS 20.12.2031 2,600,000 2,236,102 0.06 Series 2018-1 REDS EHP Trust 1.07% ABS 13.02.2026 8,134,084 4,432,366 0.11 Silver Arrow Australia 2019-1 0.87% ABS 20.06.2027 12,831,101 6,972,175 0.17 SMART ABS Series 2017-2 Trust 0.90% ABS 14.08.2025 1,667,139 906,602 0.02 Stratus CLO 2020-1 1.57% ABS 15.10.2028 13,919,558 9,816,947 0.24 Tikehau CLO 0.88% ABS 07.12.2029 4,375,362 3,761,313 0.09 Together 1.05% ABS 12.03.2049 6,756,767 6,765,710 0.17 Together 1.22% ABS 12.07.2050 12,156,966 12,214,366 0.30 Together 1.45% ABS 20.03.2053 19,670,813 19,715,289 0.49 Together 1.50% ABS 15.12.2061 21,194,685 21,493,710 0.53 TPG Real Estate Finance Issuer 1.30% ABS 15.03.2038 28,929,000 20,432,758 0.51 TRTX 2019-FL3 1.29% ABS 15.10.2034 28,054,500 19,801,344 0.49 Turbo Finance 8 0.70% ABS 20.02.2026 911,494 911,885 0.02 Turbo Finance 9 0.88% ABS 20.08.2028 18,984,000 19,090,747 0.47 Voya Euro CLO I 0.75% ABS 15.10.2030 16,347,000 14,061,325 0.35 Voya Euro CLO II 0.54% ABS 15.07.2032 749,625 644,344 0.02 Voya Euro CLO IV 0.00% ABS 15.01.2034 900,000 772,902 0.02

Total value of asset backed securities 969,461,202 24.05

Corporate bonds (30 November 2020: 0.13%) – –

Floating rate notes (30 November 2020: 0.00%) Canterbury Finance 1.40% FRN 16.05.2056 19,199,000 19,434,562 0.48 Palmer Square European CLO 2021-1 AE 0.87% FRN 15.04.2034 5,611,000 4,840,442 0.12 Primrose Residential 2021-1A 0.19% FRN 24.03.2061 52,082,000 44,786,597 1.11 Sculptor European CLO II DAC 0.30% FRN 15.04.2034 1,900,000 1,632,963 0.04 Starwood Property Trust 1.38% FRN 18.04.2038 12,000,000 8,476,754 0.21

Total value of floating rate notes 79,171,318 1.96

Mortgage backed securities (30 November 2020: 63.17%) ABA Trust 2017-1 1.27% MBS 16.01.2049 4,227,934 2,316,383 0.06 AFG Series 2019-2 1.17% MBS 10.03.2051 28,082,052 15,383,039 0.38 AFG Series 2020-1 0.99% MBS 10.04.2052 9,572,994 5,202,666 0.13 AFG Series 2021-1 0.76% MBS 10.10.2052 50,000,000 27,193,623 0.67 Apollo Series 2017-2 Trust 1.27% MBS 13.04.2049 2,577,942 1,417,721 0.04 Apollo Series 2018-1 Trust 1.04% MBS 13.10.2049 11,726,862 6,437,000 0.16 Arrow CMBS 2018 DAC 1.10% MBS 22.05.2030 14,843,959 12,812,238 0.32 Atlas Funding Series 2021-1 0.95% MBS 25.07.2058 7,633,000 7,677,935 0.19 Aurium CLO III 0.67% MBS 16.04.2030 6,266,000 5,388,412 0.13 BAMS CMBS 2018-1 DAC '1 A' 1.05% MBS 17.05.2028 16,365,000 16,362,120 0.41 Bowbell No.2 0.89% MBS 16.04.2056 10,063,910 10,150,520 0.25 Brass No.6 0.42% MBS 16.12.2060 11,277,924 11,302,070 0.28 Brass No.7 0.65% MBS 16.10.2059 23,961,580 24,098,520 0.60 Canada Square Funding 2019-1 1.16% MBS 17.10.2051 13,270,242 13,358,157 0.33 Canada Square Funding 2020-1 1.26% MBS 17.12.2056 15,165,530 15,392,786 0.38 Canada Square Funding 2020-2 1.31% MBS 17.12.2057 8,001,079 8,113,718 0.20 Canterbury Finance 1.22% MBS 16.05.2056 532,347 533,541 0.01 Cartesian Residential Mortgages 4 0.02% MBS 25.11.2054 10,256,908 8,858,697 0.22 Castell 2018-1 A 1.19% MBS 25.01.2046 9,839,455 9,866,548 0.25 Castell 2019-1 A 1.33% MBS 15.07.2052 13,703,505 13,767,562 0.34 Castell 2020-1 A 1.32% MBS 25.09.2052 20,065,708 20,171,745 0.50 Ciel No.1 1.11% MBS 12.06.2046 6,095,306 6,118,761 0.15 Cold Finance 1.30% MBS 20.08.2029 17,148,439 17,151,825 0.43 CSAIL Commercial Mortgage Trust 1.24% MBS 15.07.2022 6,024,475 4,223,137 0.11

48 Insight Global Funds II PLC Insight Liquid ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 63.17%) (Continued) Darrowby No.5 0.59% MBS 20.12.2057 11,307,101 11,383,650 0.28 Dilosk Rmbs No.2 DAC '2 A' 0.24% MBS 20.12.2057 8,514,038 7,339,684 0.18 Domi 2020-1 0.29% MBS 15.04.2052 14,231,612 12,313,836 0.31 Domi 2021-1 0.00% MBS 15.06.2053 15,400,000 13,281,110 0.33 Dublin Bay Securities 0.00% MBS 28.06.2055 13,572,685 11,696,988 0.29 Dukinfield 2 A 1.31% MBS 20.12.2052 17,875,919 17,909,928 0.44 Dutch Property Finance 2017-1 0.17% MBS 28.01.2048 10,994,290 9,473,496 0.24 Dutch Property Finance 2018-1 0.12% MBS 28.04.2051 7,091,569 6,106,076 0.15 Economic Master Issuer 0.52% MBS 25.06.2072 18,287,000 18,379,459 0.46 Elstree Funding No.1 1.45% MBS 20.12.2053 21,971,610 22,178,395 0.55 Elvet Mortgages 2018-1 0.80% MBS 22.10.2058 14,141,111 14,187,042 0.35 EOS European Loan Conduit No.35 1.00% MBS 23.04.2029 3,957,021 3,420,013 0.09 Eurosail-UK 2007-2NP 0.00% MBS 13.03.2045 7,333,739 6,261,834 0.16 Feldspar 0.76% MBS 15.09.2045 8,982,661 8,997,267 0.22 Finsbury Square 2018-2 A 1.01% MBS 12.09.2068 25,445,049 25,531,995 0.63 Finsbury Square 2019-1 A 1.46% MBS 16.06.2069 21,871,261 21,949,647 0.54 Finsbury Square 2019-2 A 1.09% MBS 16.12.2069 36,946,836 37,164,804 0.92 Finsbury Square 2019-3 A 1.07% MBS 16.12.2069 30,911,547 31,133,384 0.77 Finsbury Square 2020-1 A 0.86% MBS 16.03.2070 51,721,064 51,937,724 1.29 Finsbury Square 2020-2 A 1.36% MBS 16.06.2070 5,160,808 5,221,215 0.13 Firstmac Mortgage Funding Trust Series 1-2018 1.07% MBS 08.03.2049 3,749,266 2,053,359 0.05 Firstmac Mortgage Funding Trust Series 2-2019 1.25% MBS 17.11.2050 9,139,903 5,038,340 0.13 Firstmac Mortgage Funding Trust Series 2-2020 1.27% MBS 15.01.2052 15,059,685 8,223,965 0.20 Firstmac Mortgage Funding Trust Series 2-2021 0.74% MBS 24.09.2052 20,000,000 10,876,200 0.27 Firstmac Mortgage Funding Trust Series 2-2021 0.91% MBS 24.09.2052 16,250,000 8,833,779 0.22 Firstmac Mortgage Funding Trust Series 2-2021 1.06% MBS 24.09.2052 16,250,000 8,827,202 0.22 Fondo de Titulización RMBS Prado VIII '8 A' 0.17% MBS 15.03.2055 11,500,000 10,054,544 0.25 Friary No.4 0.46% MBS 21.01.2050 16,672,211 16,708,739 0.41 Friary No.6 0.78% MBS 21.11.2067 9,134,172 9,233,205 0.23 FROSN-2018 DAC '1 A1' 0.75% MBS 21.01.2028 10,324,214 8,890,697 0.22 Gemgarto 2018-1 1.34% MBS 16.09.2065 18,330,719 18,442,829 0.46 Genesis Mortgage Funding 2019-1 A 1.59% MBS 15.06.2056 13,827,621 13,916,394 0.35 Gosforth Funding 2018-1 0.65% MBS 25.08.2060 26,693,337 26,856,540 0.67 Gosforth Funding 2018-1 0.70% MBS 25.08.2060 6,738,908 4,758,610 0.12 Gosforth Funding 2018-1 0.70% MBS 25.08.2060 3,258,127 2,300,693 0.06 Hawksmoor Mortgage Funding 2019-1 'A' 1.10% MBS 25.05.2053 25,728,140 25,858,183 0.64 Hawksmoor Mortgage Funding 2019-1 'A' 1.10% MBS 25.05.2053 8,175,150 8,216,471 0.20 Hawksmoor Mortgage Funding 2019-1 'B' 1.81% MBS 25.05.2053 11,563,000 11,646,757 0.29 Hops Hill No.1 1.00% MBS 27.05.2054 11,050,886 11,161,848 0.28 Jepson 2019 DAC '1 A' 0.30% MBS 24.11.2057 12,348,222 10,650,808 0.26 Kanaal CMBS Finance 2019 DAC '1 A' 1.00% MBS 22.08.2028 17,706,479 15,222,929 0.38 Kantoor Finance 2018 DAC '1 A' 0.72% MBS 22.08.2030 1,944,950 1,671,476 0.04 Kingfisher Trust 1.13% MBS 24.11.2048 2,364,691 1,303,624 0.03 La Trobe Financial Capital Markets Trust 2018-2 1.42% MBS 12.03.2050 12,230,133 6,694,384 0.17 La Trobe Financial Capital Markets Trust 2018-2 2.02% MBS 12.03.2050 3,967,766 2,178,122 0.05 La Trobe Financial Capital Markets Trust 2019-1 1.44% MBS 13.08.2050 18,161,078 9,973,842 0.25 La Trobe Financial Capital Markets Trust 2019-1 2.22% MBS 13.08.2050 1,840,000 1,020,960 0.03 La Trobe Financial Capital Markets Trust 2019-1 2.47% MBS 13.08.2050 3,020,000 1,676,429 0.04 La Trobe Financial Capital Markets Trust 2019-2 1.67% MBS 11.02.2051 4,553,875 2,489,987 0.06 La Trobe Financial Capital Markets Trust 2021-1 0.84% MBS 13.09.2052 22,000,000 11,965,254 0.30 Lanark Master Issuer 2017-1 0.73% MBS 22.12.2069 9,529,450 9,581,195 0.24 Lanark Master Issuer 2018-2 0.68% MBS 22.12.2069 9,352,000 9,430,127 0.23 Lanark Master Issuer 2019-1 0.89% MBS 22.12.2069 12,431,500 12,458,315 0.31 Lanark Master Issuer 2020-1 1.03% MBS 22.12.2069 2,316,400 1,635,297 0.04 Lanebrook Mortgage Transaction 2020-1 1.15% MBS 12.06.2057 20,225,513 20,374,555 0.51 Last Mile Securities 0.90% MBS 17.08.2031 15,625,000 13,487,148 0.33 Liberty Funding Party Limited 1.06% MBS 25.12.2051 17,345,776 9,435,020 0.23 Liberty Funding Party Limited 1.27% MBS 10.10.2049 6,892,308 3,760,948 0.09 Liberty Funding Party Limited 1.62% MBS 10.09.2052 47,305,336 26,138,320 0.65

49 Insight Global Funds II PLC Insight Liquid ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 63.17%) (Continued) Liberty Series 2017-3 Trust 1.37% MBS 10.04.2049 4,096,819 2,227,346 0.06 Liberty Series 2018-3 Trust 1.96% MBS 25.10.2050 7,130,043 3,907,657 0.10 Liberty Series 2019-2 Trust 1.40% MBS 10.06.2051 16,878,927 9,266,629 0.23 Liberty Series 2020-1 Trust 1.01% MBS 25.07.2027 8,842,377 4,825,769 0.12 Lion Trust 2020-1 A 1.01% MBS 22.09.2051 16,930,725 9,283,984 0.23 London Wall Mortgage Capital 0.77% MBS 15.05.2050 7,135,781 7,145,493 0.18 London Wall Mortgage Capital 0.80% MBS 15.05.2051 9,750,000 9,783,413 0.24 London Wall Mortgage Capital 1.00% MBS 15.08.2048 858,877 860,547 0.02 Medallion Trust Series 2014-2 0.89% MBS 26.10.2046 19,384,229 10,557,237 0.26 Mortimer BTL 2019-1 A 1.36% MBS 20.06.2051 14,824,652 14,965,723 0.37 Mortimer BTL 2020-1 A 1.13% MBS 21.06.2052 21,274,750 21,450,416 0.53 National RMBS Trust 2018-1 0.91% MBS 24.08.2049 3,565,728 1,954,109 0.05 Offa No.1 1.31% MBS 14.06.2050 8,041,577 8,045,437 0.20 Oncilla Mortgage Funding 2016-1 1.46% MBS 12.12.2043 3,458,564 3,460,840 0.09 Oncilla Mortgage Funding 2016-1 1.86% MBS 12.12.2043 6,780,000 6,784,427 0.17 Oranje European Loan Conduit No.32 1.00% MBS 22.11.2028 9,941,289 8,560,283 0.21 Paragon Mortgages No.25 0.70% MBS 15.05.2050 26,731,955 26,771,317 0.66 Paragon Mortgages No.26 1.11% MBS 15.05.2045 19,589,418 19,750,933 0.49 Pepper I-Prime 2017-3 Trust 1.22% MBS 18.12.2048 7,309,073 3,973,595 0.10 Pepper I-Prime 2017-3 Trust 1.62% MBS 18.12.2048 4,554,115 2,476,400 0.06 Pepper I-Prime 2018-1 Trust 1.26% MBS 23.11.2049 9,271,406 5,059,410 0.13 Pepper I-Prime 2018-2 Trust 1.32% MBS 13.03.2050 4,324,838 2,371,096 0.06 Pepper I-Prime 2019-1 Trust 1.37% MBS 14.08.2050 9,019,228 4,943,892 0.12 Pepper I-Prime 2020-1 Trust 0.00% MBS 18.03.2052 2,510,188 1,364,152 0.03 Pepper Residential Securities Trust No.17 1.51% MBS 10.03.2058 3,985,300 2,170,655 0.05 Pepper Residential Securities Trust No.18 1.42% MBS 12.08.2058 3,067,342 1,673,258 0.04 Pepper Residential Securities Trust No.19 1.79% MBS 12.03.2059 1,660,356 907,942 0.02 Pepper Residential Securities Trust No.20 1.22% MBS 16.09.2059 11,176,707 6,097,949 0.15 Pepper Residential Securities Trust No.20 1.57% MBS 16.09.2059 1,945,313 1,062,604 0.03 Pepper Residential Securities Trust No.22 1.42% MBS 20.06.2060 9,832,890 5,388,673 0.13 Pepper Residential Securities Trust No.23 0.73% MBS 18.08.2060 7,242,632 6,261,182 0.16 Pepper Residential Securities Trust No.23 1.47% MBS 18.08.2060 4,700,006 2,579,846 0.06 Pepper Residential Securities Trust No.24 0.63% MBS 18.11.2060 6,108,375 5,272,136 0.13 Pepper Residential Securities Trust No.24 1.42% MBS 18.11.2060 9,529,065 5,247,057 0.13 Pepper Residential Securities Trust No.25 1.06% MBS 12.03.2061 12,445,433 8,768,167 0.22 Pepper Residential Securities Trust No.27 1.67% MBS 13.06.2062 8,342,420 4,534,222 0.11 Pepper Sparkz Trust No.1 1.20% MBS 15.07.2027 12,117,747 6,609,039 0.16 Pepper Sparkz Trust No.2 1.07% MBS 16.11.2027 11,765,583 6,424,413 0.16 Permanent Master Issuer 2019-1 0.43% MBS 15.07.2058 11,644,000 11,652,850 0.29 Permanent Master Issuer 2019-1 0.64% MBS 15.07.2058 14,028,000 14,089,934 0.35 Permanent Master Issuer 2019-1 0.79% MBS 15.07.2058 24,131,000 17,033,239 0.42 Perpetual Corporate Trust LTD 0.97% MBS 10.01.2052 13,533,049 7,363,046 0.18 PFP 2019-5 1.11% MBS 14.04.2036 6,452,006 4,559,463 0.11 Polaris 2019-1 1.30% MBS 27.04.2057 10,330,402 10,370,561 0.26 Polaris 2020-1 1.30% MBS 27.05.2057 23,580,562 23,821,178 0.59 Precise Mortgage Funding 2015-2B 0.74% MBS 12.03.2055 16,301,097 16,328,956 0.41 Precise Mortgage Funding 2017-1B 0.71% MBS 12.12.2054 7,916,676 7,923,056 0.20 Precise Mortgage Funding 2017-1B 0.81% MBS 12.03.2054 15,755,783 15,782,284 0.39 Precise Mortgage Funding 2019-1B 0.99% MBS 12.12.2055 7,378,018 7,399,030 0.18 Precise Mortgage Funding 2019-1B 1.25% MBS 12.12.2055 13,840,000 14,006,454 0.35 Precise Mortgage Funding 2020-1B 0.98% MBS 16.10.2056 14,684,711 14,795,801 0.37 Progress 2016-1 Trust 1.29% MBS 21.02.2048 3,719,646 2,052,978 0.05 Progress 2017-2 Trust 0.97% MBS 10.02.2049 3,430,936 1,882,188 0.05 Progress 2017-2 Trust 1.42% MBS 10.02.2049 5,082,334 2,791,625 0.07 PUMA-Series 0.99% MBS 19.12.2048 1,660,500 906,149 0.02 Residential Mortgage Securities 29 'A' 1.01% MBS 20.12.2046 15,400,555 15,421,993 0.38 Residential Mortgage Securities 30 'A' 0.86% MBS 20.03.2050 20,871,020 20,893,644 0.52 Residential Mortgage Securities 31 'A' 1.26% MBS 20.09.2065 19,074,011 19,116,956 0.47 Residential Mortgage Securities 32 'A' 1.31% MBS 20.06.2070 14,462,702 14,649,668 0.36

50 Insight Global Funds II PLC Insight Liquid ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 63.17%) (Continued) Resimac Bastille Trust 1.07% MBS 05.09.2057 7,546,943 5,318,908 0.13 Resimac Bastille Trust 1.12% MBS 10.11.2049 7,741,909 4,232,879 0.11 Resimac Bastille Trust 1.32% MBS 05.09.2057 7,711,070 4,225,296 0.11 Resimac Bastille Trust 1.42% MBS 05.12.2059 9,009,323 4,935,820 0.12 Resimac Bastille Trust 1.87% MBS 13.11.2058 1,501,149 819,410 0.02 Resimac Premier Series 2017-1 1.09% MBS 11.09.2048 46,465 32,744 – Resimac Premier Series 2017-2 1.22% MBS 15.01.2049 5,508,226 3,006,574 0.07 Resimac Premier Series 2019-1 1.08% MBS 10.02.2051 12,330,800 8,619,317 0.21 Resimac Premier Series 2019-2 1.17% MBS 10.02.2051 20,517,249 11,209,533 0.28 Resimac Premier Series 2020-2 1.02% MBS 07.06.2051 7,283,648 3,960,129 0.10 Ribbon Finance 2018-1 Class A 0.83% MBS 20.04.2028 5,728,458 5,730,257 0.14 Ripon Mortgages '1X A1' 0.87% MBS 20.08.2056 36,818,082 36,919,074 0.92 Ripon Mortgages '1X A2' 1.60% MBS 20.08.2056 44,553,552 44,685,074 1.11 Ripon Mortgages '1X B1' 1.27% MBS 20.08.2056 24,562,000 24,715,414 0.61 RMAC Securities No.1 Ser 2018 'A' 0.76% MBS 12.06.2046 26,193,584 26,190,466 0.65 RMAC Securities No.2 Ser 2018 'A' 1.03% MBS 12.06.2046 15,317,340 15,383,588 0.38 Salus European Loan Conduit No.33 1.55% MBS 23.01.2029 23,539,000 23,577,698 0.59 Sapphire XXI Series 2019-2 1.41% MBS 21.03.2051 17,592,347 9,628,772 0.24 Shamrock Residential 2019-1 DAC 0.30% MBS 24.11.2057 5,151,377 4,443,352 0.11 Shamrock Residential 2021-1 DAC 0.29% MBS 24.12.2059 10,325,393 8,890,168 0.22 Shawbrook Mortgage Funding 2019-1 1.18% MBS 16.12.2050 24,875,781 25,032,312 0.62 Silk Road Finance 0.91% MBS 21.09.2067 22,064,563 22,280,972 0.55 Silverstone Master Issuer 0.53% MBS 21.01.2070 42,506,000 42,658,086 1.06 Silverstone Master Issuer 0.58% MBS 21.01.2070 28,055,000 28,232,925 0.70 Silverstone Master Issuer 0.81% MBS 21.01.2070 19,794,060 20,005,263 0.50 Solaris Trust 2021-1 0.61% MBS 15.06.2052 3,238,916 1,759,631 0.04 Stanlington No.1 1.06% MBS 12.06.2046 11,366,717 11,393,502 0.28 Stratton Mortgage Funding '1 A' 0.86% MBS 12.03.2044 9,446,998 9,451,731 0.23 Stratton Mortgage Funding '1 A' 0.90% MBS 25.09.2051 7,014,000 7,026,538 0.17 Stratton Mortgage Funding '1 A' 0.96% MBS 12.03.2052 10,356,360 10,381,335 0.26 Taurus 2018-1 IT 1.00% MBS 18.05.2030 1,988,492 1,704,737 0.04 Taurus 2018-2 UK 1.17% MBS 22.05.2028 12,329,280 12,178,641 0.30 Taurus 2019-1 FR 0.90% MBS 02.02.2031 8,145,877 7,008,907 0.17 Taurus 2019-2 UK 1.27% MBS 17.11.2029 20,323,685 20,380,531 0.51 Taurus 2019-3 UK 1.17% MBS 22.06.2029 11,324,000 11,341,479 0.28 Taurus 2020-1 NL 0.90% MBS 20.02.2030 26,646,434 22,971,786 0.57 Taurus 2020-2 UK 1.75% MBS 17.08.2030 23,044,429 23,197,652 0.58 Taurus 2021-1 UK 0.90% MBS 17.05.2031 7,676,000 7,699,266 0.19 Taurus 2021-2 SP 1.50% MBS 16.09.2031 7,350,000 6,335,888 0.16 Taurus 2021-3 DEU 1.20% MBS 22.12.2030 22,489,000 19,319,937 0.48 Think Tank Series 2020-1 Trust 1.68% MBS 10.08.2053 38,771,001 21,179,884 0.53 Together 1.32% MBS 15.07.2061 20,740,237 20,888,457 0.52 Towd Point Mortgage Funding 2016-Granite 0.85% MBS 20.02.2045 16,827,287 16,867,024 0.42 Towd Point Mortgage Funding 2019 'A13X' 0.96% MBS 20.07.2045 25,936,775 25,810,904 0.64 Towd Point Mortgage Funding 2019 'A13X' 0.96% MBS 20.07.2045 5,001,877 5,018,023 0.12 Towd Point Mortgage Funding 2019 'A14X' 0.95% MBS 20.05.2045 61,068,396 61,400,057 1.52 Towd Point Mortgage Funding 2019 'Gr4X B' 1.45% MBS 20.10.2051 14,028,000 14,054,779 0.35 Towd Point Mortgage Funding 2019 'V2X A' 1.25% MBS 20.02.2054 47,947,612 48,237,695 1.20 Tower Bridge Funding 2021-1 0.95% MBS 21.07.2064 23,889,000 23,988,641 0.60 Tower Bridge Funding No.1 1.43% MBS 20.09.2063 22,286,673 22,545,722 0.56 Tower Bridge Funding No.2 0.96% MBS 20.03.2056 15,520,954 15,530,701 0.39 Tower Bridge Funding No.3 1.26% MBS 20.12.2061 10,751,647 10,784,444 0.27 Tower Bridge Funding No.4 A 1.33% MBS 20.12.2062 27,288,908 27,517,071 0.68 Triton Trust 2020-2 1.42% MBS 15.11.2051 22,023,888 12,039,559 0.30 Triton Trust No.7 2017-1 1.22% MBS 20.12.2048 9,397,231 5,129,017 0.13 Triton Trust No.8 2019-2 1.32% MBS 20.07.2050 4,757,640 2,601,066 0.06 Triton Trust No.8 2019-3 1.22% MBS 12.04.2051 30,161,168 16,527,855 0.41 Twin Bridges 2017-1 0.84% MBS 12.09.2044 13,295,927 13,331,401 0.33 Twin Bridges 2018-1 0.94% MBS 12.09.2050 19,004,086 19,122,224 0.47

51 Insight Global Funds II PLC Insight Liquid ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Mortgage backed securities (30 November 2020: 63.17%) (Continued) Twin Bridges 2019-1 1.01% MBS 12.12.2052 17,914,955 18,024,505 0.45 Twin Bridges 2019-2 A 1.21% MBS 12.06.2053 9,934,155 10,008,303 0.25 Twin Bridges 2020-1 1.31% MBS 14.12.2054 16,473,729 16,716,667 0.42 Twin Bridges 2021-1 0.00% MBS 12.03.2055 31,091,000 31,291,350 0.78 Vermilion Trust No.1 Series 2019-1 1.52% MBS 10.07.2050 6,979,212 3,813,146 0.09 Vermilion Trust No.1 Series 2020-1 0.92% MBS 14.12.2058 12,375,523 6,725,059 0.17 Vermilion Trust No.1 Series 2021-1 1.01% MBS 12.05.2053 9,752,000 5,304,533 0.13

Total value of mortgage backed securities 2,509,185,346 62.26

Total value of transferable securities 3,557,817,866 88.27

Forward currency contracts (30 November 2020: 0.14%)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

HSBC Bank 09.06.2021 GBP 251,814,875 AUD 451,116,000 6,756,485 0.17 HSBC Bank 16.07.2021 GBP 231,165,977 AUD 415,657,000 5,341,650 0.13 Morgan Stanley 02.06.2021 GBP 293,284,639 EUR 338,899,103 2,001,385 0.05 Lloyds Bank 17.06.2021 GBP 161,766,734 EUR 186,090,000 1,816,912 0.05 Goldman Sachs 25.06.2021 GBP 58,966,842 USD 81,180,000 1,765,526 0.04 BNP Paribas 01.07.2021 GBP 121,607,684 EUR 139,613,000 1,575,980 0.04 Barclays Bank 11.06.2021 GBP 41,345,906 USD 56,719,000 1,379,590 0.03 Lloyds Bank 09.07.2021 GBP 57,553,637 USD 80,182,000 1,056,224 0.03 Lloyds Bank 09.06.2021 GBP 26,691,051 AUD 47,754,000 749,789 0.02 Barclays Bank 03.06.2021 GBP 140,388,474 EUR 162,560,000 698,575 0.02 Lloyds Bank 16.07.2021 GBP 27,411,586 AUD 49,174,000 695,603 0.02 Citigroup 09.06.2021 GBP 19,953,153 AUD 35,752,000 531,702 0.01 Barclays Bank 15.07.2021 GBP 143,854,522 EUR 166,942,000 287,147 0.01 Citigroup 01.07.2021 GBP 16,391,039 EUR 18,813,000 216,639 0.01 Morgan Stanley 20.07.2021 GBP 37,755,026 USD 53,327,000 180,234 0.01 Barclays Bank 11.06.2021 GBP 8,626,194 USD 12,000,000 170,548 – Barclays Bank 06.08.2021 GBP 44,256,382 USD 62,659,000 106,387 – BNP Paribas 16.07.2021 GBP 8,499,474 AUD 15,449,000 106,111 – BNP Paribas 03.06.2021 GBP 12,536,761 EUR 14,494,000 81,880 – Goldman Sachs 01.07.2021 GBP 8,666,017 EUR 9,990,000 77,156 – BNP Paribas 17.06.2021 GBP 6,767,268 EUR 7,785,000 75,832 – Citigroup 03.06.2021 GBP 6,055,200 EUR 6,959,000 75,242 – Citigroup 20.07.2021 GBP 4,445,009 USD 6,238,000 49,645 – HSBC Bank 15.07.2021 GBP 32,348,866 EUR 37,568,000 41,003 – Citigroup 03.06.2021 GBP 4,681,976 EUR 5,423,000 21,923 – Westpac Bank 15.06.2021 GBP 3,022,320 EUR 3,500,000 14,075 – Westpac Bank 15.06.2021 GBP 3,200,158 USD 4,523,375 12,838 – Morgan Stanley 02.06.2021 GBP 1,488,163 EUR 1,719,616 10,155 – HSBC Bank 15.07.2021 EUR 17,783,000 GBP 15,284,115 8,973 – Morgan Stanley 01.07.2021 GBP 9,257,850 EUR 10,758,000 8,703 – HSBC Bank 25.06.2021 USD 11,467,000 GBP 8,075,056 4,859 – Westpac Bank 15.06.2021 GBP 410,447 EUR 477,591 (42) – Westpac Bank 15.06.2021 GBP 2,939,485 EUR 3,420,353 (303) – Westpac Bank 15.06.2021 EUR 3,426,619 GBP 2,947,719 (2,544) – Morgan Stanley 15.06.2021 EUR 1,719,617 GBP 1,488,163 (10,155) – Merrill Lynch 09.06.2021 AUD 7,455,000 GBP 4,078,105 (28,348) – HSBC Bank 17.06.2021 EUR 3,423,000 GBP 2,970,935 (28,766) – Citigroup 17.06.2021 EUR 6,600,000 GBP 5,704,820 (31,926) – Royal Bank of Scotland 16.07.2021 AUD 8,871,000 GBP 4,871,598 (52,029) – Morgan Stanley 09.06.2021 AUD 9,819,000 GBP 5,393,312 (59,367) – Royal Bank of Scotland 15.07.2021 EUR 14,080,000 GBP 12,183,002 (74,433) –

52 Insight Global Funds II PLC Insight Liquid ABS Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

Forward currency contracts (30 November 2020: 0.14%) (Continued)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

BNP Paribas 09.06.2021 AUD 9,732,000 GBP 5,401,749 (115,064) – Citigroup 11.06.2021 USD 5,862,000 GBP 4,250,127 (119,544) – Citigroup 09.06.2021 AUD 11,901,000 GBP 6,600,482 (135,538) – Morgan Stanley 15.06.2021 EUR 113,939,156 GBP 98,105,601 (175,073) (0.01) Lloyds Bank 09.06.2021 AUD 18,781,000 GBP 10,432,446 (230,099) (0.01) Morgan Stanley 02.06.2021 EUR 340,618,720 GBP 293,284,639 (523,377) (0.01) Morgan Stanley 15.06.2021 USD 174,625,445 GBP 123,587,336 (540,451) (0.02) Morgan Stanley 15.06.2021 EUR 338,899,103 GBP 293,284,639 (2,001,385) (0.05)

Unrealised gain on forward currency contracts (30 November 2020: 0.39%) 25,918,771 0.64 Unrealised loss on forward currency contracts (30 November 2020: (0.25%)) (4,128,444) (0.10) Net unrealised gain on forward currency contracts 21,790,327 0.54

Value % of Net £ Assets

Total Financial Assets - Investment funds 381,564,600 9.47 Total Financial Assets - Transferable securities 3,557,817,866 88.27 Total Financial Assets - Derivative financial instruments 25,918,771 0.64 Total Financial Liabilities - Derivative financial instruments (4,128,444) (0.10) Total Cost of Investments £3,971,740,704 (2020: £4,387,848,384)

Cash at bank (30 November 2020: 4.46%) 82,084,944 2.04

Collateral and margin cash (30 November 2020: 0.06%) – –

Net current liabilities (30 November 2020: 0.07%) (12,727,327) (0.32)

Net assets attributable to holders of redeemable shares 4,030,530,410 100.00

% of Total Analysis of Total Assets Assets UCITS and AIFs 9.38 Transferable securities admitted to official stock exchange listing 87.42 Over the counter derivative financial instruments 0.64 Cash and Other Assets 2.56 100.00

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^^Related party holdings.

53 Insight Global Funds II PLC Insight Short Dated Buy and Maintain Bond Fund Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Investment funds (30 November 2020: 2.32%) Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2^^ UCITS 1,747,092 1,747,092 0.18

Total value of investment funds 1,747,092 0.18

Asset backed securities (30 November 2020: 0.20%) Dowson 2019-1 1.35% ABS 20.09.2026 689,739 691,001 0.07 London Wall Mortgage Capital 0.90% ABS 15.11.2049 177,651 178,124 0.02 Marstons Issuer 1.37% ABS 15.10.2027 4,745,518 4,448,923 0.46 Telereal Securitisation 5.57% ABS 10.12.2031 2,921,000 2,958,757 0.31

Total value of asset backed securities 8,276,805 0.86

Corporate bonds (30 November 2020: 68.57%) AA Bond 4.88% Bonds 31.07.2024 4,220,000 4,493,970 0.47 AA Bond 6.27% Bonds 31.07.2025 7,512,000 8,484,917 0.88 AbbVie 3.60% Bonds 14.05.2025 5,900,000 4,548,478 0.47 Air Canada 5.25% Bonds 01.04.2029 2,840,497 2,175,251 0.23 America Movil 3.13% Bonds 16.07.2022 1,852,000 1,341,925 0.14 America Movil 5.00% Bonds 27.10.2026 5,310,000 6,321,236 0.65 American Honda Finance 0.75% Bonds 25.11.2026 14,136,000 13,924,897 1.44 Anglian Water Services Financing 6.88% Bonds 21.08.2023 9,000,000 10,262,462 1.06 Anheuser-Busch InBev 4.00% Bonds 24.09.2025 12,075,000 13,651,592 1.41 Annington Funding 2.65% Bonds 12.07.2025 3,800,000 4,009,925 0.42 Apple 2.45% Bonds 04.08.2026 4,100,000 3,080,470 0.32 Aviva 6.13% Bonds 14.11.2036 11,100,000 13,524,630 1.40 Bank of Montreal 1.38% Bonds 29.12.2021 5,810,000 5,848,700 0.61 Bank of Nova Scotia 0.75% Bonds 14.09.2021 6,794,000 6,805,131 0.70 Banque Federative du Credit Mutuel 1.38% Bonds 20.12.2021 3,900,000 3,925,042 0.41 Barclays Bank 3.00% Bonds 08.05.2026 4,846,000 5,203,722 0.54 Barclays Bank 3.13% Bonds 17.01.2024 4,904,000 5,178,583 0.54 BASF 0.88% Bonds 06.10.2023 4,017,000 4,061,762 0.42 BASF 1.38% Bonds 21.06.2022 2,500,000 2,527,917 0.26 BMW Finance 2.38% Bonds 01.12.2021 5,766,000 5,826,001 0.60 BMW Finance 2.40% Bonds 14.08.2024 2,580,000 1,909,531 0.20 BMW International Investment 0.75% Bonds 08.03.2024 1,143,000 1,145,846 0.12 BMW International Investment 1.38% Bonds 01.10.2024 2,000,000 2,043,313 0.21 BMW US Capital 3.90% Bonds 09.04.2025 3,800,000 2,966,050 0.31 BNP Paribas 3.38% Bonds 23.01.2026 2,100,000 2,293,318 0.24 BNP Paribas 5.75% Bonds 24.01.2022 1,450,000 1,499,126 0.16 BPCE 4.88% Bonds 01.04.2026 2,160,000 1,729,236 0.18 British Airways 4.25% Bonds 15.11.2032 659,062 497,061 0.05 Cadent Gas 1.13% Bonds 22.09.2021 5,701,000 5,711,746 0.59 Canadian Imperial Bank of Commerce 1.13% Bonds 30.06.2022 6,743,000 6,808,335 0.71 Cellnex Telecom 2.88% Bonds 18.04.2025 12,100,000 11,254,757 1.17 Channel Link Enterprises Finance 1.76% Bonds 30.06.2050 9,406,000 8,055,621 0.83 Citigroup 1.75% Bonds 23.10.2026 7,900,000 8,080,319 0.84 Citigroup 2.75% Bonds 24.01.2024 2,000,000 2,101,133 0.22 Citigroup 5.15% Bonds 21.05.2026 3,000,000 3,569,264 0.37 Comcast 3.10% Bonds 01.04.2025 12,000,000 9,174,444 0.95 Comcast 3.15% Bonds 01.03.2026 5,000,000 3,848,266 0.40 Commonwealth Bank of Australia 1.13% Bonds 22.12.2021 5,880,000 5,910,670 0.61 Cooperatieve Rabobank 2.25% Bonds 23.03.2022 3,841,000 3,904,396 0.40 CPUK Finance 3.59% Bonds 28.08.2025 749,000 808,899 0.08 Credit Agricole 4.13% Bonds 10.01.2027 7,000,000 5,576,907 0.58 Credit Agricole 7.38% Bonds 18.12.2023 3,900,000 4,530,259 0.47 Daimler 1.50% Bonds 18.08.2021 1,200,000 1,202,820 0.12 Daimler 1.50% Bonds 13.01.2022 6,310,000 6,351,028 0.66 Daimler 1.63% Bonds 11.11.2024 3,800,000 3,895,892 0.40 Daimler 2.00% Bonds 04.09.2023 2,300,000 2,367,662 0.25

54 Insight Global Funds II PLC Insight Short Dated Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 68.57%) (Continued) Deutsche Bahn Finance GmbH 0.38% Bonds 03.12.2026 8,000,000 7,819,785 0.81 Deutsche Bahn Finance GmbH 2.75% Bonds 20.06.2022 4,000,000 4,106,499 0.43 Eastern Power Networks 5.75% Bonds 08.03.2024 4,000,000 4,555,258 0.47 Eastern Power Networks 8.50% Bonds 31.03.2025 3,523,000 4,503,222 0.47 Electricite de France 3.63% Bonds 13.10.2025 11,967,000 9,258,629 0.96 Electricite de France 6.88% Bonds 12.12.2022 4,100,000 4,497,520 0.47 Ennbridge 4.25% Bonds 01.12.2026 8,326,000 6,615,578 0.69 Enterprise Products 3.75% Bonds 15.02.2025 7,500,000 5,787,208 0.60 ERAC USA Finance 3.80% Bonds 01.11.2025 2,660,000 2,073,708 0.21 ERAC USA Finance 3.85% Bonds 15.11.2024 5,912,000 4,574,173 0.47 FCA Bank 1.63% Bonds 29.09.2021 700,000 702,339 0.07 Fidelity National Information 1.70% Bonds 30.06.2022 5,700,000 5,776,350 0.60 Fiserv 2.25% Bonds 01.07.2025 4,800,000 5,049,258 0.52 Folio Residential 1.25% Bonds 31.10.2027 13,070,000 13,107,429 1.36 Gatwick Funding 5.25% Bonds 23.01.2024 8,247,000 9,136,253 0.95 GE Capital UK Funding 4.13% Bonds 13.09.2023 4,940,000 5,329,964 0.55 Glencore Finance 3.13% Bonds 26.03.2026 5,000,000 5,344,145 0.55 Glencore Finance 6.00% Bonds 03.04.2022 4,463,000 4,662,733 0.48 Goldman Sachs 4.25% Bonds 29.01.2026 9,494,000 10,806,135 1.12 Goldman Sachs 7.13% Bonds 07.08.2025 890,000 1,109,385 0.11 Heathrow Funding 5.23% Bonds 15.02.2023 7,410,000 7,952,469 0.82 Hiscox 2.00% Bonds 14.12.2022 7,640,000 7,772,931 0.81 Iberdrola Finanzas 7.38% Bonds 29.01.2024 5,500,000 6,464,893 0.67 Ineos Quattro Finance 2.50% Bonds 15.01.2026 14,670,000 12,671,846 1.31 Innogy Finance 5.50% Bonds 06.07.2022 2,700,000 2,847,315 0.29 International Business Machines 3.00% Bonds 15.05.2024 6,000,000 4,534,837 0.47 Koninklijke KPN 5.00% Bonds 18.11.2026 2,859,000 3,250,567 0.34 Land Securities Capital Markets 1.97% Bonds 08.02.2024 9,040,000 9,272,003 0.96 Legal & General Group 10.00% Bonds 23.07.2041 2,000,000 2,026,540 0.21 McDonald's 1.45% Bonds 01.09.2025 1,153,000 831,287 0.09 Metropolitan Life Global Funding I 0.63% Bonds 08.12.2027 7,105,000 6,819,557 0.71 Metropolitan Life Global Funding I 2.63% Bonds 05.12.2022 4,300,000 4,444,601 0.46 National Australia Bank 1.13% Bonds 10.11.2021 7,818,000 7,851,187 0.81 Nationwide Building Society 0.55% Bonds 22.01.2024 17,500,000 12,337,782 1.28 NIE Finance 2.50% Bonds 27.10.2025 4,395,000 4,666,015 0.48 Nordea Bank 2.38% Bonds 02.06.2022 3,900,000 3,981,972 0.41 Northumbrian Water Finance 1.63% Bonds 11.10.2026 10,000,000 10,242,462 1.06 Northumbrian Water Finance 6.88% Bonds 06.02.2023 877,000 968,051 0.10 Northwestern Mutual Global Funding 0.60% Bonds 25.03.2024 8,951,000 6,330,622 0.66 Orange 5.25% Bonds 05.12.2025 6,860,000 8,204,799 0.85 Pension Insurance Corporation 6.50% Bonds 03.07.2024 8,764,000 10,068,202 1.04 PepsiCo 2.50% Bonds 01.11.2022 4,440,000 4,578,574 0.47 PGH Capital 6.63% Bonds 18.12.2025 4,590,000 5,541,358 0.57 Phoenix Group Holdings 4.13% Bonds 20.07.2022 2,230,001 2,310,524 0.24 RAC Bond 4.57% Bonds 06.05.2023 4,907,000 5,113,419 0.53 RAC Bond 4.87% Bonds 06.05.2026 5,080,000 5,545,290 0.57 Rothesay Life 19/26 3.38% Bonds 12.07.2026 3,030,000 3,243,770 0.34 Royal Bank of Canada 1.13% Bonds 22.12.2021 4,597,000 4,621,245 0.48 Scottish Widows 5.50% Bonds 16.06.2023 5,508,000 5,997,969 0.62 Severn Trent Utilities Finance 1.13% Bonds 07.09.2021 5,875,000 5,885,610 0.61 Siemens Financieringsmaatschappij 0.88% Bonds 05.06.2023 12,300,000 12,402,603 1.28 Skandinaviska Enskilda Banken 1.25% Bonds 05.08.2022 669,000 676,659 0.07 Societe Generale 4.25% Bonds 14.04.2025 3,520,000 2,707,421 0.28 Society of Lloyd's 4.75% Bonds 30.10.2024 7,300,000 8,077,534 0.84 South Eastern Power Networks 5.50% Bonds 05.06.2026 997,000 1,207,740 0.13 Southern Gas Networks 2.50% Bonds 03.02.2025 3,900,000 4,134,163 0.43 Spectra Energy Partners 3.38% Bonds 15.10.2026 1,725,000 1,319,968 0.14 Spectra Energy Partners 3.50% Bonds 15.03.2025 901,000 687,950 0.07 Spectra Energy Partners 4.75% Bonds 15.03.2024 2,885,000 2,242,507 0.23

55 Insight Global Funds II PLC Insight Short Dated Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Corporate bonds (30 November 2020: 68.57%) (Continued) Svenska Handelsbanken 1.63% Bonds 18.06.2022 3,935,000 3,992,105 0.41 Swedbank 1.13% Bonds 07.12.2021 8,700,000 8,742,064 0.91 Swedbank 1.25% Bonds 29.12.2021 1,000,000 1,005,919 0.10 Telecom Italia 5.88% Bonds 19.05.2023 9,700,000 10,547,799 1.09 Telefonica Emisiones 5.29% Bonds 09.12.2022 3,150,000 3,374,596 0.35 Thames Water Utilities Finance 1.88% Bonds 24.01.2024 3,220,000 3,315,012 0.34 Thames Water Utilities Finance 4.00% Bonds 19.06.2025 9,150,000 10,273,057 1.06 Toronto-Dominion Bank 1.00% Bonds 13.12.2021 4,612,000 4,632,353 0.48 Total Capital 1.25% Bonds 16.12.2024 2,000,000 2,039,176 0.21 Total Capital 2.25% Bonds 09.06.2022 749,000 764,192 0.08 Toyota Finance Australia 1.63% Bonds 11.07.2022 3,500,000 3,549,930 0.37 Toyota Motor Credit 1.13% Bonds 07.09.2021 5,027,000 5,038,255 0.52 Toyota Motor Credit 1.80% Bonds 13.02.2025 3,200,000 2,343,271 0.24 Transport for London 2.25% Bonds 09.08.2022 10,750,000 10,979,969 1.14 Unilever 1.13% Bonds 03.02.2022 5,000,000 5,031,160 0.52 United Utilities Water 2.00% Bonds 14.02.2025 6,500,000 6,788,587 0.70 Virgin Media Secured Finance 5.00% Bonds 15.04.2027 6,165,000 6,440,138 0.67 Virgin Media Secured Finance 5.25% Bonds 15.05.2029 4,029,000 4,277,178 0.44 Volkswagen Financial Services 1.63% Bonds 30.11.2022 3,600,000 3,648,328 0.38 Volkswagen Financial Services 1.88% Bonds 03.12.2024 2,700,000 2,776,922 0.29 Volkswagen Financial Services 2.13% Bonds 27.06.2024 3,300,000 3,413,731 0.35 Volkswagen Financial Services 2.75% Bonds 10.07.2023 1,000,000 1,040,834 0.11 Volkswagen Financial Services 3.20% Bonds 26.09.2026 2,540,000 1,947,127 0.20 Volkswagen Financial Services 4.25% Bonds 09.10.2025 1,000,000 1,130,258 0.12 Wales & West Utilities Finance 4.63% Bonds 13.12.2023 1,919,000 2,115,498 0.22 Wells Fargo 2.00% Bonds 28.07.2025 4,500,000 4,661,699 0.48 Western Power Distribution East Midlands 5.25% Bonds 17.01.2023 6,000,000 6,452,259 0.67 Westpac Banking 2.63% Bonds 14.12.2022 5,808,000 6,011,635 0.62 Yorkshire Water Services Finance 1.75% Bonds 26.11.2026 2,461,000 2,529,291 0.26 Yorkshire Water Services Finance 6.59% Bonds 21.02.2023 4,950,000 5,457,504 0.57

Total value of corporate bonds 691,402,170 71.61

Floating rate notes (30 November 2020: 14.75%) AXA 5.13% FRN 04.07.2043 6,565,000 6,227,563 0.65 Bank of Nova Scotia 0.28% FRN 10.01.2023 797,000 798,725 0.08 Barclays Bank 1.70% FRN 03.11.2026 2,210,000 2,243,939 0.23 Barclays Bank 2.38% FRN 06.10.2023 1,200,000 1,227,771 0.13 Berg Finance Series 2021-1 Class A 1.05% FRN 22.07.2033 8,872,000 7,637,580 0.79 Berg Finance Series 2021-1 Class B 0.00% FRN 22.07.2026 2,833,000 2,438,718 0.25 BNP Paribas 2.82% FRN 19.11.2025 13,190,000 9,826,778 1.02 BPCE 2.75% FRN 08.07.2026 5,100,000 4,395,222 0.46 Canadian Imperial Bank of Commerce 0.48% FRN 10.01.2022 1,000,000 1,002,085 0.10 Channel Link Enterprises Finance 2.71% FRN 30.06.2050 2,510,000 2,195,586 0.23 CNP Assurances 7.38% FRN 30.09.2041 2,400,000 2,451,854 0.25 HSBC Bank 1.59% FRN 24.05.2027 10,200,000 7,219,423 0.75 HSBC Bank 2.18% FRN 27.06.2023 7,513,000 7,641,984 0.79 JP Morgan 0.99% FRN 28.04.2026 11,500,000 11,524,264 1.19 Legal & General Group 5.38% FRN 27.10.2045 8,226,000 9,462,392 0.98 NatWest Markets 2.88% FRN 19.09.2026 2,600,000 2,771,007 0.29 Prudential 3.88% FRN 20.07.2049 11,005,000 11,689,690 1.21 Prudential 5.63% FRN 15.06.2043 13,069,000 9,956,888 1.03 RL Finance Bonds No.2 6.13% FRN 30.11.2043 5,457,000 6,075,085 0.63 Rothesay Life 19/26 5.50% FRN 17.09.2029 4,440,000 4,956,348 0.51 Royal Bank of Canada 0.63% FRN 03.10.2024 1,060,000 1,073,010 0.11 Royal Bank of Scotland 3.62% FRN 14.08.2030 10,475,000 11,181,652 1.16 Societe Generale 2.50% FRN 16.09.2026 5,400,000 4,675,629 0.48 Yorkshire Building Society 0.65% FRN 19.11.2023 5,600,000 5,663,196 0.59

56 Insight Global Funds II PLC Insight Short Dated Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021 Nominal % of Net Security Description A Holdings Value £ Assets

Floating rate notes (30 November 2020: 14.75%) (Continued) Yorkshire Building Society 3.00% FRN 18.04.2025 5,186,000 5,477,060 0.57

Total value of floating rate notes 139,813,449 14.48

Government bonds (30 November 2020: 5.65%) United Kingdom (Government of) 0.13% Bonds 31.01.2024 27,000,000 26,981,640 2.79 United Kingdom (Government of) 0.75% Bonds 22.07.2023 9,700,000 9,844,433 1.02

Total value of government bonds 36,826,073 3.81

Mortgage backed securities (30 November 2020: 7.01%) Durham Mortgages B 1.25% MBS 31.03.2054 1,790,000 1,790,786 0.19 Eurosail 2007-6NC 0.76% MBS 13.09.2045 1,938,743 1,908,793 0.20 Eurosail-UK 2007-4BL A4 1.01% MBS 13.06.2045 1,784,150 1,767,610 0.18 Finsbury Square 2019-1 B 1.65% MBS 16.06.2069 2,000,000 2,009,354 0.21 Gemgarto 2018-1 1.34% MBS 16.09.2065 4,397,754 4,424,651 0.46 Green Storm 0.21% MBS 22.02.2068 8,400,000 7,445,096 0.77 London Wall Mortgage Capital 1.00% MBS 15.08.2048 927,695 929,498 0.10 Paragon Mortgages No.25 1.00% MBS 15.05.2050 4,000,000 3,990,522 0.41 Polaris 2019-1 1.30% MBS 27.04.2057 1,929,902 1,937,404 0.20 Ripon Mortgages '1X A1' 0.87% MBS 20.08.2056 6,660,095 6,678,363 0.69 Ripon Mortgages '1X B2' 1.27% MBS 20.08.2056 3,000,000 3,013,455 0.31 RMAC Securities No.1 Ser 2018 'A' 0.76% MBS 12.06.2046 1,490,109 1,489,932 0.15 RMAC Securities No.2 Ser 2018 'A' 1.03% MBS 12.06.2046 3,348,689 3,363,172 0.35 Taurus 2021-3 DEU 1.20% MBS 22.12.2030 11,844,000 10,174,989 1.05 Towd Point Mortgage Funding 2019 'A13X' 0.96% MBS 20.07.2045 2,588,070 2,575,510 0.27 Tower Bridge Funding No.4 A 1.33% MBS 20.12.2062 2,458,444 2,478,999 0.26 Tower Bridge Funding No.4 D 2.81% MBS 20.12.2062 749,991 760,978 0.08 Twin Bridges 2017-1 0.84% MBS 12.09.2044 3,158,750 3,167,178 0.33 Westfield Stratford City Finance 1.64% MBS 04.08.2026 5,909,000 5,891,882 0.61

Total value of mortgage backed securities 65,798,172 6.82

Total value of transferable securities 942,116,669 97.58

Interest rate swaps (30 November 2020: 0.01%) IRS GBP RCV 0.17% Pay 1D SONIA 26.05.2023 (48,100,000) (118,763) (0.01)

Unrealised gain on interest rate swaps (30 November 2020: 0.01%) – – Unrealised loss on interest rate swaps (30 November 2020: 0.00%) (118,763) (0.01) Net unrealised loss on interest rate swaps (118,763) (0.01)

No. of Unrealised % of Net

Security Description FUTGL Contracts Gain/(Loss) £ WAssets

Futures contracts (30 November 2020: (0.02%)) Future Sep 2021 Lif Long Gilt 397 94,688 0.01 Future Jun 2021 Euro-Bobl Eux (190) 57,350 0.01 Future Jun 2021 Euro-Schat Eux (115) 3,958 – Future Sep 2021 10 Year T-Note (8) (1,107) – Future Sep 2021 US 5 Year T-Note CBT (1,138) (101,658) (0.01)

Unrealised gain on futures contracts (30 November 2020: 0.00%) 155,996 0.02 Unrealised loss on futures contracts (30 November 2020: (0.02%)) (102,765) (0.01) Net unrealised gain on futures contracts 53,231 0.01

57 Insight Global Funds II PLC Insight Short Dated Buy and Maintain Bond Fund (Continued) Portfolio and Schedule of Investments As at 31 May 2021

Forward currency contracts (30 November 2020: 0.26%)

Contract Currency Buy Currency Sell Unrealised % of Net Broker Date Buy Amount Sell Amount Gain/(Loss) £ Assets

Barclays Bank 11.06.2021 GBP 25,449,817 USD 34,926,000 839,659 0.09 Morgan Stanley 25.06.2021 GBP 23,537,916 USD 32,399,000 708,827 0.07 Lloyds Bank 09.07.2021 GBP 19,409,692 USD 27,041,000 356,206 0.04 Barclays Bank 01.07.2021 GBP 15,387,688 EUR 17,671,000 195,118 0.02 Barclays Bank 20.07.2021 GBP 25,145,439 USD 35,524,000 114,837 0.01 Toronto Dominion Bank 17.06.2021 GBP 9,008,594 EUR 10,361,000 103,010 0.01 Barclays Bank 03.06.2021 GBP 18,591,800 EUR 21,528,000 92,513 0.01 Morgan Stanley 09.07.2021 GBP 4,063,278 USD 5,655,000 78,682 0.01 Royal Bank of Canada 06.08.2021 GBP 33,119,619 USD 46,915,000 62,963 0.01 Citigroup 15.07.2021 GBP 27,789,581 EUR 32,253,000 52,532 – HSBC Bank 17.06.2021 GBP 3,316,372 EUR 3,821,000 32,110 – HSBC Bank 17.06.2021 GBP 10,067,915 EUR 11,705,000 7,124 – Northern Trust 15.06.2021 GBP 1,058,344 USD 1,495,954 4,246 – HSBC Bank 15.07.2021 EUR 6,699,000 GBP 5,757,650 3,380 – Northern Trust 15.06.2021 USD 57,751,487 GBP 40,872,350 (178,736) (0.02)

Unrealised gain on forward currency contracts (30 November 2020: 0.30%) 2,651,207 0.27 Unrealised loss on forward currency contracts (30 November 2020: (0.04%)) (178,736) (0.02) Net unrealised gain on forward currency contracts 2,472,471 0.25

Value % of Net £ Assets

Total Financial Assets - Investment funds 1,747,092 0.18 Total Financial Assets - Transferable securities 942,116,669 97.58 Total Financial Assets - Derivative financial instruments 2,807,203 0.29 Total Financial Liabilities - Derivative financial instruments (400,264) (0.04) Total Cost of Investments £954,005,902 (2020: £786,923,872)

Cash at bank (30 November 2020: 0.00%) 5,787,729 0.60

Collateral and margin cash (30 November 2020: 0.15%) 2,152,912 0.22

Net current assets (30 November 2020: 1.10%) 11,276,164 1.17

Net assets attributable to holders of redeemable shares 965,487,505 100.00

% of Total Analysis of Total Assets Assets UCITS and AIFs 0.18 Transferable securities admitted to official stock exchange listing 96.53 Derivative financial instruments dealt in on a regulated market 0.02 Over the counter derivative financial instruments 0.27 Cash and Other Assets 3.00 100.00

Space

^^Related party holdings.

58 Insight Global Funds II PLC Statement of Comprehensive Income Six months ended 31 May 2021 1.4 Insight 1.1 Insight 1.2 Insight Global Enhanced Buy 1.5 Insight Buy 1.7 Insight Total Emerging Markets (ex-UK) Bond 1.3 Insight High and Maintain and Maintain Return Bond Debt Fund Fund Grade ABS Fund Bond Fund Bond Fund Fund* Notes £ £ £ £ £ € Income Bank interest income 8,889 175 22,120 – – – Dividend income 6,440 1,699 137,310 165 14,258 – Net gain/(loss) on investments held for trading 55,266 (8,024,152) 70,350,383 (1,447,751) (30,814,411) – 70,595 (8,022,278) 70,509,813 (1,447,586) (30,800,153) – Expenses Management fee 2 – – 2,500,042 – 1,365,350 – Fixed operating expenses 2 70,979 37,477 1,512,104 42,384 736,188 – Other operating expenses 2 – – – – – – Operating expenses before finance costs 70,979 37,477 4,012,146 42,384 2,101,538 –

Net (expense)/income from operations before finance costs (384) (8,059,755) 66,497,667 (1,489,970) (32,901,691) – Finance Costs Withholding tax and CGT on investments (268,812) – – – – – Interest expense (14,313) (2,363) (24,260) (1,826) (67,562) – Distribution to holders of redeemable shares 13 (105,571) – (3,509,353) – (18,644,440) – (Decrease)/increase in net assets attributable to holders of redeemable shares (389,080) (8,062,118) 62,964,054 (1,491,796) (51,613,693) –

*Insight Total Return Bond Fund fully redeemed on 24 November 2020 and is in the process of revocation as at 31 May 2021.

There are no gains or losses arising in the period other than those included above.

The accompanying notes form part of the Financial Statements

59 Insight Global Funds II PLC Statement of Comprehensive Income (Continued) Six months ended 31 May 2021 1.8 Insight Emerging 1.9 Insight 2.4 Insight Short Market Bond Sustainable Euro Dated Buy and Opportunities Corporate Bond 2.1 Insight Liquid Maintain Bond 2.5 Combined Fund* Fund** ABS Fund Fund Total Notes € € £ £ £ Income Bank interest income – – 12,772 – 43,956 Dividend income – – 105,841 4,184 269,897 Net (loss)/gain on investments held for trading – (2,542,281) 13,627,626 3,578,815 45,097,761 – (2,542,281) 13,746,239 3,582,999 45,411,614 Expenses Management fee 2 – 878,466 771,831 79,954 5,487,051 Fixed operating expenses 2 – 226,589 1,109,741 223,665 3,931,117 Other operating expenses 2 – 32,000 – 8,080 36,124 Operating expenses before finance costs – 1,137,055 1,881,572 311,699 9,454,292

Net (expense)/income from operations before finance costs – (3,679,336) 11,864,667 3,271,300 35,957,322 Finance Costs Withholding tax and CGT on investments – – – – (268,812) Interest expense – (63,376) (10,014) (3,597) (179,477) Distribution to holders of redeemable shares 13 – – (1,098,452) (1,641,882) (24,999,698) (Decrease)/increase in net assets attributable to holders of redeemable shares – (3,742,712) 10,756,201 1,625,821 10,509,335

*Insight Emerging Market Bond Opportunities Fund fully redeemed on 17 July 2019 and is in the process of revocation as at 31 May 2021. **On 27 March 2021, Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund.

There are no gains or losses arising in the period other than those included above.

There were no cross investments between Funds as at 31 May 2021.

The accompanying notes form part of the Financial Statements

60 Insight Global Funds II PLC Statement of Comprehensive Income Six months ended 31 May 2020 1.4 Insight 1.1 Insight 1.2 Insight Global Diversified 1.5 Insight Buy 1.7 Insight Total Emerging Markets (ex-UK) Bond 1.3 Insight High Corporate Bond and Maintain Return Bond Debt Fund Fund Grade ABS Fund Fund Bond Fund Fund Notes £ £ £ £ £ € Income Bank interest income 24,852 2,698 108,531 19 58,335 4,076 Dividend income 163,905 13,064 788,872 43,308 147,451 5,111 Net (loss)/gain on investments held for trading (227,095) 9,217,842 (57,636,508) 2,721,236 25,964,631 (2,331,985) (38,338) 9,233,604 (56,739,105) 2,764,563 26,170,417 (2,322,798) Expenses Management fee 2 – – 2,570,783 – 1,255,335 52,885 Fixed operating expenses 2 129,409 56,368 1,202,103 33,222 677,740 30,792 Other operating expenses 2 – – – – – – Operating expenses before finance costs 129,409 56,368 3,772,886 33,222 1,933,075 83,677

Net (expense)/income from operations before finance costs (167,747) 9,177,236 (60,511,991) 2,731,341 24,237,342 (2,406,475) Finance Costs Withholding tax and CGT on investments (302,550) – – – – (204) Interest expense (21,276) (3,087) (48,269) (2,070) (236,680) (15,097) Distribution to holders of redeemable shares 13 (191,480) – (6,218,059) – (17,365,899) (453,738) (Decrease)/increase in net assets attributable to holders of redeemable shares (683,053) 9,174,149 (66,778,319) 2,729,271 6,634,763 (2,875,514)

There are no gains or losses arising in the period other than those included above.

The accompanying notes form part of the Financial Statements

61 Insight Global Funds II PLC Statement of Comprehensive Income (Continued) Six months ended 31 May 2020 1.8 Insight Emerging 1.9 Insight 2.4 Insight Short Market Bond Sustainable Euro Dated Buy and Opportunities Corporate Bond 2.1 Insight Liquid Maintain Bond 2.5 Combined Fund* Fund ABS Fund Fund Total Notes € € £ £ £ Income Bank interest income – – 10,804 – 208,766 Dividend income – – 1,052,400 25,956 2,239,379 Net (loss)/gain on investments held for trading – (7,780,632) (8,198,681) 2,413,774 (34,495,778) – (7,780,632) (7,135,477) 2,439,730 (32,047,633) Expenses Management fee 2 – 938,810 990,725 1,461 5,676,469 Fixed operating expenses 2 – 241,409 1,101,786 101,600 3,537,778 Other operating expenses 2 – – – 8,359 8,359 Operating expenses before finance costs – 1,180,219 2,092,511 111,420 9,222,606

Net (expense)/income from operations before finance costs – (8,960,851) (9,227,988) 2,328,310 (41,270,239) Finance Costs Withholding tax and CGT on investments – – (2,066) – (304,792) Interest expense – (72,905) (13,847) (2,161) (403,543) Distribution to holders of redeemable shares 13 – – (2,035,810) (428,880) (26,632,771) (Decrease)/increase in net assets attributable to holders of redeemable shares – (9,033,756) (11,279,711) 1,897,269 (68,611,345)

*Insight Emerging Market Bond Opportunities Fund fully redeemed on 17 July 2019 and is in the process of revocation.

There are no gains or losses arising in the period other than those included above.

The combined total has been adjusted for cross investments between Funds.

The accompanying notes form part of the Financial Statements

62 Insight Global Funds II PLC Statement of Financial Position As at 31 May 2021 1.4 Insight 1.1 Insight 1.2 Insight Global Enhanced Buy 1.5 Insight Buy 1.7 Insight Total Emerging Markets (ex-UK) Bond 1.3 Insight High and Maintain and Maintain Return Bond Debt Fund Fund Grade ABS Fund Bond Fund Bond Fund Fund* Notes £ £ £ £ £ € Assets Financial assets at fair value through profit or loss Held for trading 8 Investment funds 12,873,682 5,489,281 512,842,885 253,341 23,443,532 – Transferable securities 223,984,832 77,053,730 5,084,019,914 119,132,502 2,916,616,492 – Derivative financial instruments 548,246 97,498 53,040,748 290,151 39,538,804 – Total Financial Assets at fair value through profit or loss 237,406,760 82,640,509 5,649,903,547 119,675,994 2,979,598,828 – Cash at bank 4 48,508,464 136,363 231,745,260 1,371,786 8,782,225 – Collateral and margin cash 4, 10 2,404,691 243,798 – 250,393 10,180,751 – Income receivable - due within one year 1,057,414 179,730 7,173,081 1,403,975 32,336,847 3,924 Subscriptions receivable – – 52,121,774 – – – Securities sold receivable – – – – 6,961,942 – Other receivables 284,548 – – – – – Total Assets 289,661,877 83,200,400 5,940,943,662 122,702,148 3,037,860,593 3,924 Liabilities Financial liabilities at fair value through profit or loss Held for trading 8 Derivative financial instruments 1,681,343 159,331 4,804,447 75,798 2,085,959 – Total Financial Liabilities at fair value through profit or loss 1,681,343 159,331 4,804,447 75,798 2,085,959 – Bank overdraft 4 – – – – – 3,924 Interest payable – – – 88 677 – Management fee payable – – 805,275 – 443,918 – Fixed operating expenses payable 22,666 12,024 491,531 13,600 238,224 – Other expenses payable 13,811 – 15 20,193 253,365 – Redemptions payable – – 72,327 – – – Securities purchased payable 13,740,618 – 20,434,766 – 21,649,905 – Total Liabilities (excluding net assets attributable to holders of redeemable shares) 15,458,438 171,355 26,608,361 109,679 24,672,048 3,924 Net assets attributable to holders of redeemable shares 274,203,439 83,029,045 5,914,335,301 122,592,469 3,013,188,545 –

*Insight Total Return Bond Fund fully redeemed on 24 November 2020 and is in the process of revocation as at 31 May 2021.

The accompanying notes form part of the Financial Statements

63 Insight Global Funds II PLC Statement of Financial Position (Continued) As at 31 May 2021 1.8 Insight Emerging 1.9 Insight 2.4 Insight Short Market Bond Sustainable Euro Dated Buy and Opportunities Corporate Bond 2.1 Insight Liquid Maintain Bond 2.5 Combined Fund* Fund** ABS Fund Fund Total Notes € € £ £ £ Assets Financial assets at fair value through profit or loss Held for trading 8 Investment funds – – 381,564,600 1,747,092 938,214,413 Transferable securities – – 3,557,817,866 942,116,669 12,920,742,005 Derivative financial instruments – – 25,918,771 2,807,203 122,241,421 Total Financial Assets at fair value through profit or loss – – 3,965,301,237 946,670,964 13,981,197,839 Cash at bank 4 1,787 62,057 82,084,944 5,787,729 378,471,623 Collateral and margin cash 4, 10 – – – 2,152,912 15,232,545 Income receivable - due within one year – – 3,173,745 10,537,811 55,865,974 Subscriptions receivable – – 19,272,530 10,800,000 82,194,304 Securities sold receivable – – – – 6,961,942 Other receivables – – – – 284,548 Total Assets 1,787 62,057 4,069,832,456 975,949,416 14,520,208,775 Liabilities Financial liabilities at fair value through profit or loss Held for trading 8 Derivative financial instruments – – 4,128,444 400,264 13,335,586 Total Financial Liabilities at fair value through profit or loss – – 4,128,444 400,264 13,335,586 Bank overdraft 4 – – – – 3,371 Interest payable – 11 6,899 384 8,058 Management fee payable – – 215,086 28,598 1,492,877 Fixed operating expenses payable – – 347,658 75,905 1,201,608 Other expenses payable – 32,000 22,795 9,594 347,266 Redemptions payable 1,787 30,046 1,201,008 8,196 1,308,880 Securities purchased payable – – 33,380,156 9,938,970 99,144,415 Total Liabilities (excluding net assets attributable to holders of redeemable shares) 1,787 62,057 39,302,046 10,461,911 116,842,061 Net assets attributable to holders of redeemable shares – – 4,030,530,410 965,487,505 14,403,366,714

*Insight Emerging Market Bond Opportunities Fund fully redeemed on 17 July 2019 and is in the process of revocation as at 31 May 2021. **On 27 March 2021, Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund.

There were no cross investments between Funds as at 31 May 2021.

The Financial Statements were approved on behalf of the Board of Directors on 22 July 2021. The accompanying notes form part of the Financial Statements

64 Insight Global Funds II PLC Statement of Financial Position As at 30 November 2020 1.4 Insight 1.1 Insight 1.2 Insight Global Enhanced Buy 1.5 Insight Buy 1.7 Insight Total Emerging Markets (ex-UK) Bond 1.3 Insight High and Maintain and Maintain Return Bond Debt Fund Fund Grade ABS Fund Bond Fund Bond Fund Fund* Notes £ £ £ £ £ € Assets Financial assets at fair value through profit or loss Held for trading 8 Investment funds 13,738,413 2,508,019 475,819,268 933,153 53,901,353 – Transferable securities 255,376,295 84,016,333 5,135,821,534 120,832,394 2,859,705,329 – Derivative financial instruments 8,410,409 93,563 39,718,762 442,676 43,949,861 190,367 Total Financial Assets at fair value through profit or loss 277,525,117 86,617,915 5,651,359,564 122,208,223 2,957,556,543 190,367 Cash at bank 4 18,407,349 246,534 6,647,558 33,268 83,088 509,165 Collateral and margin cash 4, 10 1,754,287 720,221 1,040,000 573,362 13,304,982 – Income receivable - due within one year 1,840,991 251,225 8,196,055 1,428,983 32,072,654 12,239 Subscriptions receivable – – 41,974 – – – Securities sold receivable 151,051 – – – – 765,043 Other receivables 1,040 88 – – – – Total Assets 299,679,835 87,835,983 5,667,285,151 124,243,836 3,003,017,267 1,476,814 Liabilities Financial liabilities at fair value through profit or loss Held for trading 8 Derivative financial instruments 4,713,121 306,701 15,619,010 150,310 4,882,333 137,653 Total Financial Liabilities at fair value through profit or loss 4,713,121 306,701 15,619,010 150,310 4,882,333 137,653 Interest payable – – – – 31 – Management fee payable – – 411,010 – 233,520 6,095 Fixed operating expenses payable 12,553 6,700 254,372 6,914 129,110 1,048 Other expenses payable 69,707 – 20,551 2,347 214,053 1,503 Redemptions payable – – 172,171 – – 936,515 Securities purchased payable 478,563 88,583 27,042,520 – – 394,000 Total Liabilities (excluding net assets attributable to holders of redeemable shares) 5,273,944 401,984 43,519,634 159,571 5,459,047 1,476,814 Net assets attributable to holders of redeemable shares 294,405,891 87,433,999 5,623,765,517 124,084,265 2,997,558,220 –

*Insight Total Return Bond Fund fully redeemed on 24 November 2020 and is in the process of revocation.

The accompanying notes form part of the Financial Statements

65 Insight Global Funds II PLC Statement of Financial Position (Continued) As at 30 November 2020 1.8 Insight Emerging 1.9 Insight 2.4 Insight Short Market Bond Sustainable Euro Dated Buy and Opportunities Corporate Bond 2.1 Insight Liquid Maintain Bond 2.5 Combined Fund* Fund ABS Fund Fund Total Notes € € £ £ £ Assets Financial assets at fair value through profit or loss Held for trading 8 Investment funds – – 436,507,844 18,594,827 1,002,002,877 Transferable securities – 756,412,758 3,941,867,830 770,724,302 13,846,087,062 Derivative financial instruments – 174,443 18,185,503 2,454,272 113,581,914 Total Financial Assets at fair value through profit or loss – 756,587,201 4,396,561,177 791,773,401 14,961,671,853 Cash at bank 4 49,885 30,381,364 205,126,376 32,849 258,299,519 Collateral and margin cash 4, 10 – 1,809,355 2,981,000 1,186,344 23,181,371 Income receivable - due within one year – 4,735,675 3,865,594 9,227,426 61,137,042 Subscriptions receivable – 930,457 450,000 11,400,000 12,725,660 Securities sold receivable – 10,214,098 – – 9,988,321 Other receivables – – – – 1,128 Total Assets 49,885 804,658,150 4,608,984,147 813,620,020 15,327,004,894 Liabilities Financial liabilities at fair value through profit or loss Held for trading 8 Derivative financial instruments – 1,022,711 11,502,868 458,232 38,672,257 Total Financial Liabilities at fair value through profit or loss – 1,022,711 11,502,868 458,232 38,672,257 Interest payable – 17,037 2,756 – 18,052 Management fee payable – 231,558 184,126 9,946 1,051,538 Fixed operating expenses payable – 58,990 212,147 32,209 707,799 Other expenses payable 49,885 46,051 1,731 – 395,694 Redemptions payable – 27,437,741 65,377 – 25,660,777 Securities purchased payable – 13,972,434 1,105,284 11,773,907 53,361,129 Total Liabilities (excluding net assets attributable to holders of redeemable shares) 49,885 42,786,522 13,074,289 12,274,294 119,867,246 Net assets attributable to holders of redeemable shares – 761,871,628 4,595,909,858 801,345,726 15,207,137,648

*Insight Emerging Market Bond Opportunities Fund fully redeemed on 17 July 2019 and is in the process of revocation.

There were no cross investments between Funds as at 30 November 2020.

The accompanying notes form part of the Financial Statements

66 Insight Global Funds II PLC Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares Six months ended 31 May 2021 1.4 Insight 1.1 Insight 1.2 Insight Global Enhanced Buy 1.5 Insight Buy 1.7 Insight Total Emerging Markets (ex-UK) Bond 1.3 Insight High and Maintain and Maintain Return Bond Debt Fund Fund Grade ABS Fund Bond Fund Bond Fund Fund* Note £ £ £ £ £ €

Net assets attributable to holders of redeemable shares at beginning of the period 294,405,891 87,433,999 5,623,765,517 124,084,265 2,997,558,220 –

Proceeds from redeemable shares created and dividend reinvestments 23,802,134 3,942,526 848,004,756 – 447,709,634 –

Payments for redeemable shares redeemed (43,442,351) (292,895) (622,210,632) – (380,639,959) –

Net income equalisation (173,155) 7,533 1,811,606 – 174,343 – 274,592,519 91,091,163 5,851,371,247 124,084,265 3,064,802,238 –

Change in net assets attributable to holders of redeemable shares (389,080) (8,062,118) 62,964,054 (1,491,796) (51,613,693) –

Foreign exchange adjustment arising on combination 14 – – – – – –

Net assets attributable to holders of redeemable shares at end of the period 274,203,439 83,029,045 5,914,335,301 122,592,469 3,013,188,545 –

*Insightl Total Return Bond Fund fully redeemed on 24 November 2020 and is in the process of revocation as at 31 May 2021.

The accompanying notes form part of the Financial Statements

67 Insight Global Funds II PLC Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares (Continued) Six months ended 31 May 2021 1.8 Insight Emerging 1.9 Insight 2.4 Insight Short Market Bond Sustainable Euro Dated Buy and Opportunities Corporate Bond 2.1 Insight Liquid Maintain Bond 2.5 Combined Fund* Fund** ABS Fund Fund Total Note € € £ £ £

Net assets attributable to holders of redeemable shares at beginning of the period – 761,871,628 4,595,909,858 801,345,726 15,207,137,648

Proceeds from redeemable shares created and dividend reinvestments – 263,902,992 525,979,662 249,014,095 2,329,733,229

Payments for redeemable shares redeemed – (1,022,031,908) (1,101,944,047) (86,983,388) (3,131,205,925)

Net income equalisation – – (171,264) 485,251 2,134,314 – 3,742,712 4,019,774,209 963,861,684 14,407,799,266

Change in net assets attributable to holders of redeemable shares – (3,742,712) 10,756,201 1,625,821 10,509,335

Foreign exchange adjustment arising on combination 14 – – – – (14,941,887)

Net assets attributable to holders of redeemable shares at end of the period – – 4,030,530,410 965,487,505 14,403,366,714

*Insight Emerging Market Bond Opportunities Fund fully redeemed on 17 July 2019 and is in the process of revocation as at 31 May 2021. **On 27 March 2021, Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund.

There were no cross investments between Funds as at 31 May 2021.

The accompanying notes form part of the Financial Statements

68 Insight Global Funds II PLC Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares Six months ended 31 May 2020 1.4 Insight 1.1 Insight 1.2 Insight Global Diversified 1.5 Insight Buy 1.7 Insight Total Emerging Markets (ex-UK) Bond 1.3 Insight High Corporate Bond and Maintain Return Bond Debt Fund Fund Grade ABS Fund Fund Bond Fund Fund Note £ £ £ £ £ €

Net assets attributable to holders of redeemable shares at beginning of the period 606,722,616 122,748,221 4,404,399,033 81,654,998 2,784,161,593 82,076,025

Proceeds from redeemable shares created and dividend reinvestments – – 743,067,948 24,847,562 75,340,927 108,934

Payments for redeemable shares redeemed (264,503,352) (314,621) (391,853,002) – (120,475,644) (19,204,063)

Net income equalisation (3,614,503) (975) 883,741 152,438 (273,032) (1,332) 338,604,761 122,432,625 4,756,497,720 106,654,998 2,738,753,844 62,979,564

Change in net assets attributable to holders of redeemable shares (683,053) 9,174,149 (66,778,319) 2,729,271 6,634,763 (2,875,514)

Foreign exchange adjustment arising on combination 14 – – – – – –

Net assets attributable to holders of redeemable shares at end of the period 337,921,708 131,606,774 4,689,719,401 109,384,269 2,745,388,607 60,104,050

The accompanying notes form part of the Financial Statements

69 Insight Global Funds II PLC Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares (Continued) Six months ended 31 May 2020 1.8 Insight Emerging 1.9 Insight 2.4 Insight Short Market Bond Sustainable Euro Dated Buy and Opportunities Corporate Bond 2.1 Insight Liquid Maintain Bond 2.5 Combined Fund* Fund ABS Fund Fund Total Note € € £ £ £

Net assets attributable to holders of redeemable shares at beginning of the period – 506,024,730 4,634,014,913 377,204,081 13,512,211,860

Proceeds from redeemable shares created and dividend reinvestments – 114,587,534 339,654,350 150,914,262 1,433,077,903

Payments for redeemable shares redeemed – (53,938,405) (853,812,260) – (1,694,252,883)

Net income equalisation – – (1,326,907) 1,349,191 (2,831,200) – 566,673,859 4,118,530,096 529,467,534 13,248,205,680

Change in net assets attributable to holders of redeemable shares – (9,033,756) (11,279,711) 1,897,269 (68,611,345)

Foreign exchange adjustment arising on combination 14 – – – – 28,851,725

Net assets attributable to holders of redeemable shares at end of the period – 557,640,103 4,107,250,385 531,364,803 13,208,446,060

*Insight Emerging Market Bond Opportunities Fund fully redeemed on 17 July 2019 and is in the process of revocation.

The combined total has been adjusted for cross investments between Funds.

The accompanying notes form part of the Financial Statements

70 Insight Global Funds II PLC Notes to the Financial Statements General Insight Global Funds II PLC (the “Company”) is an umbrella open-ended investment company with variable capital authorised by the Central Bank of Ireland (the “Central Bank”) as an Undertaking for Collective Investment in Transferable Securities in accordance with the provisions of the European Communities (Undertakings for Collective Investment in Transferable Securities) (“UCITS”) Regulations 2011 (“the UCITS Regulations”) and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 (the “Central Bank UCITS Regulations”). It was incorporated in Ireland on 27 July 2006. The Company has been structured as an umbrella fund, which means that different Funds may be created from time to time by the Directors with the prior approval of the Central Bank. As at 31 May 2021 Insight Global Funds II PLC has ten constituent Funds (each a “Fund”, collectively the “Funds”), Shares of more than one class may be issued in relation to a Fund. The creation of further share classes must be notified to, and cleared, in advance with the Central Bank. On the introduction of any new Fund or class of shares, the Company will prepare and the Directors will issue documentation setting out the relevant details of each such Fund or class of shares. A separate portfolio of assets shall be maintained for each Fund and shall be invested in accordance with the investment objective applicable to such Fund. The Company has segregated liability between its Funds and accordingly any liability incurred on behalf of or attributable to any Fund shall be discharged solely out of the assets of that Fund. Insight Investment Funds Management Limited serves as Investment Manager of the Company. As at 31 May 2021, the Company had seven active Funds, namely Insight Emerging Markets Debt Fund, Insight Global (ex-UK) Bond Fund, Insight High Grade ABS Fund, Insight Enhanced Buy and Maintain Bond Fund (formerly Insight Diversified Corporate Bond Fund), Insight Buy and Maintain Bond Fund, Insight Liquid ABS Fund and Insight Short Dated Buy and Maintain Bond Fund. Insight Emerging Market Bond Opportunities Fund fully redeemed on 17 July 2019, Insight Total Return Bond Fund fully redeemed on 24 November 2020 and Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund on 27 March 2021 and are in the process of revocation.

1. Principal Accounting Policies The principal accounting policies applied in the preparation of these Financial Statements are consistent with the accounting policies applied in the preparation of the Audited Financial Statements for the financial year ended 30 November 2020.

Basis of Preparation These Condensed Interim Report and Financial Statements have been prepared in accordance with Financial Reporting Standard 104 “Interim Financial Reporting” (“FRS 104”), with the Companies Act 2014 and with the UCITS Regulations and the Central Bank UCITS Regulations. The unaudited Condensed Interim Report and Financial Statements should be read in conjunction with the Audited Financial Statements for the financial year ended 30 November 2020 which were prepared in accordance with Financial Reporting Standard FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), Irish statute comprising the Companies Act 2014, the UCITS Regulations and the Central Bank UCITS Regulations. The Financial Statements have been prepared on a going concern basis with the exception of Insight Emerging Market Bond Opportunities Fund, Insight Total Return Bond Fund and Insight Sustainable Euro Corporate Bond Fund, which have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the Fund’s assets to net realisable value. Insight Emerging Market Bond Fund and Insight Total Return Bond Fund are in the process of revocation as at 31 May 2021. Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund on 27 March 2021. The Company meets all the conditions set out in FRS 102, Section 7, and consequently has availed of the exemption available to certain funds not to prepare a Statement of Cash Flows. The Financial Statements have been prepared for the six months ended 31 May 2021. As 31 May 2021 fell on a holiday, the valuation point used to value the securities for the purpose of the financial statements is that of 28 May 2021. Reference to 31 May 2021 throughout the financial statements is actually for 28 May 2021, the last business day of the financial period.

Functional and Presentation Currency The Financial Statements are presented in Sterling Pound (“GBP”), the Company’s functional and presentation currency.

71 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 2. Fees Investment Manager’s Fees The Investment Manager’s charges for each class of Shares in the Funds will accrue and be calculated on each Dealing Day and be payable monthly in arrears. Fee rates are per annum of the Net Asset Value of the Fund attributable to the class shares, and are detailed in the table overleaf.

Sub-Investment Manager’s Fees The Sub-Investment Manager’s fees and expenses will be paid by the Investment Manager.

Other Operating Expenses Other operating expenses relates to expenses such as set-up costs and liquidation provisions.

Fixed Operating Expenses (“FOE”) The Company appointed Insight Investment Management (Europe) Limited as manager of the Company (the “Manager”). The Company will pay the Manager an annual fee out of the assets of the Funds equal to a percentage of the Net Asset Value of the relevant Class (the “FOE”). The FOE covers a range of fees and expenses relating to the general operation of the Funds including fees that the Manager pays on behalf of the Company, such as Administration fees, Depositary fees, Directors fees, Legal fees, Audit fees, Professional Service fees and other expenses. The table below shows the fixed operating expense rates applicable to the Funds.

Investment Managers FOE's (% of Net fee (% of Net Asset Asset Value per As at 31 May 2021 and 31 May 2020 Value per annum) annum) Insight Emerging Markets Debt Fund Class S Sterling Accumulation Shares - 0.05% Class S Sterling Income Shares - 0.05%

Insight Global (ex-UK) Bond Fund Class S Sterling Accumulation Shares - 0.09% Class S2 Sterling Accumulation Shares - 0.09%

Insight High Grade ABS Fund Class A Euro Accumulation Shares 0.50% 0.09% Class A Sterling Accumulation Shares 0.50% 0.05% Class A US Dollar Accumulation Shares 0.50% 0.09% Class B Sterling Accumulation Shares 0.25% 0.05% Class F Euro Accumulation Shares 0.35% 0.09% Class F Sterling Accumulation Shares 0.35% 0.05% Class F Sterling Income Shares 0.35% 0.05% Class F US Dollar Accumulation Shares 0.35% 0.09% Class S Euro Accumulation Shares - 0.09% Class S Sterling Accumulation Shares - 0.05% Class S Sterling Income Shares - 0.05%

Insight Enhanced Buy and Maintain Bond Fund Class S Sterling Accumulation Shares - 0.07%

Insight Buy and Maintain Bond Fund Class B Sterling Accumulation Shares 0.15% 0.05% Class B Sterling Income Shares 0.15% 0.05% Class S Sterling Accumulation Shares - 0.05% Class S Sterling Income Shares - 0.05%

72 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 2. Fees (Continued) Fixed Operating Expenses (“FOE”) (Continued)

Investment Managers FOE's (% of Net fee (% of Net Asset Asset Value per As at 31 May 2021 and 31 May 2020 Value per annum) annum) Insight Total Return Bond Fund** Class A Euro Accumulation Shares 0.65% 0.10% Class S Euro Income Shares - 0.10%

Insight Emerging Market Bond Opportunities Fund*** Class A Euro Accumulation Shares 0.85% 0.08% Class S Euro Accumulation Shares - 0.08%

Insight Sustainable Euro Corporate Bond Fund**** Class A Euro Accumulation Shares 0.35% 0.09% Class S Euro Accumulation Shares - 0.09%

Insight Liquid ABS Fund Class B Euro Accumulation Shares 0.15% 0.09% Class B Sterling Accumulation Shares 0.15% 0.05% Class B Sterling Income Shares 0.15% 0.05% Class B US Dollar Income Shares 0.15% 0.09% Class S Euro Accumulation Shares - 0.09% Class S Sterling Accumulation Shares - 0.05% Class S Sterling Income Shares - 0.05%

Insight Short Dated Buy and Maintain Bond Fund Class B Sterling Accumulation Shares 0.10% 0.05% Class B US Dollar Accumulation Shares* 0.10% 0.09% Class S Sterling Accumulation Shares - 0.05% Class S Sterling Income Shares - 0.05%

*The above share classes launched during the period. **Insight Total Return Bond Fund fully redeemed on 24 November 2020 and is in the process of revocation. ***Insight Emerging Market Bond Opportunities Fund fully redeemed on 17 July 2019 and is in the process of revocation. ****On 27 March 2021, Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund.

3. Share Capital The Company has a variable share capital. The authorised share capital of the Company is 1,000,000,000,000 shares of no par value initially designated as unclassified shares. The unclassified shares are available for issue as Shares. The issue price is payable in full on acceptance. There are no rights of pre-emption attaching to the Shares in the Company. The Company does not have any externally imposed capital requirements.

Variation of Rights The rights attached to any class may be varied or abrogated with the consent in writing of the holders of three-fourths in number of the issued shares of that class, or with the sanction of a special resolution passed at a separate general meeting of the holders of the shares of the class, and may be so varied or abrogated either whilst the Company is a going concern or during or in contemplation of a winding-up.

Voting Rights Subject to disenfranchisement in the event of non-compliance with any notice requiring disclosure of the beneficial ownership of shares and subject to any rights or restrictions for the time being attached to any class or classes of shares, on a show of hands at a general meeting or class meeting of the Company, every Shareholder holding shares who is present in person or by proxy shall have one vote and on a poll every Shareholder present in person or by proxy shall have one vote for every share of which s/he is the holder.

73 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 3. Share Capital (Continued) Distributions The Articles of Association permit the Directors to declare such distributions on any class of shares as appears to the Directors to be justified by the profits of the relevant Fund. The Directors may satisfy any distributions due to holders of shares in whole or in part by distributing to them in specie any of the assets of the relevant Fund, and in particular any investments to which the relevant Fund is entitled. Any distributions unclaimed for six years from the date of declaration of such distributions shall be forfeited and shall revert to the relevant Fund. Please see Statement of Comprehensive Income on pages 59 to 62 for income distributions paid during the financial period ended 31 May 2021 and 31 May 2020. All distributions are paid out of income.

Winding up The Articles contain provisions to the following effect: a) If the Company shall be wound up the liquidator shall, subject to the provisions of the Companies Act, apply the assets of each Fund in such manner and order as s/he thinks fit in satisfaction of creditors’ claims relating to that Fund. b) The assets available for distribution amongst the holders shall be applied as follows. Firstly, the proportion of the assets in a Fund attributable to each class of share shall be distributed to the holders of shares in the relevant class in the proportion that the number of shares held by each holder bears to the total number of shares relating to each such class of shares in issue as at the date of commencement to wind up and secondly, any balance then remaining and not attributable to any of the classes of shares shall be apportioned pro-rata as between the classes of shares based on the Net Asset Value of each class of shares as at the date of commencement to wind up and the amount so apportioned to a class shall be distributed to holders pro-rata to the number of shares in that class of shares held by them. c) If the Company shall be wound up (whether the liquidation is voluntary, under supervision or by the court) the liquidator may, with the authority of a special resolution of the relevant Shareholders and any other sanction required by the Companies Act divide among the holders of shares of any class or classes within a Fund in specie the whole or any part of the assets of the Company relating to that Fund, and whether or not the assets shall consist of property of a single kind, and may for such purposes set such value as s/he deems fair upon any one or more class or classes of property, and may determine how such division shall be carried out as between all the Shareholders of the Company or the holders of different classes of shares in a Fund. The liquidator may, with the like authority, vest any part of the assets in trustees upon such trusts for the benefit of Shareholders as the liquidator, with the like authority, shall think fit, and the liquidation of the Company may be closed and the Company dissolved, but so that no Shareholder shall be compelled to accept any assets in respect of which there is a liability. A Shareholder may request the liquidator, instead of transferring the assets in specie to it, to dispose of them and to pay the net sales proceeds instead.

74 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 3. Share Capital (Continued) Share Class movement for the six months ended 31 May 2021

Shares in issue Subscriptions & Shares in issue Share Class 30 Nov 20 Reinvestments Redemptions 31 May 21 Insight Emerging Markets Debt Fund Class S Sterling Accumulation Shares 20,166,675 1,686,412 (3,067,898) 18,785,189 Class S Sterling Income Shares 829,515 – (26,000) 803,515 Blank Text Insight Global (ex-UK) Bond Fund Class S Sterling Accumulation Shares 670,706 – (12,071) 658,635 Class S2 Sterling Accumulation Shares 48,281 2,883 – 51,164 Blank Text Insight High Grade ABS Fund Class A Euro Accumulation Shares^ 2,928,311 12,190 – 2,940,501 Class A Sterling Accumulation Shares 124,397,206 18,254,063 (152,950) 142,498,319 Class A US Dollar Accumulation Shares^ 44,140 3,180,887 – 3,225,027 Class B Sterling Accumulation Shares 142,695,950 4,388,575 (13,090,771) 133,993,754 Class F Euro Accumulation Shares^ 154,850,245 1,294,033 (916,809) 155,227,469 Class F Sterling Accumulation Shares 536,146,588 45,327,834 (82,098,911) 499,375,511 Class F Sterling Income Shares 252,550,290 67,440,926 (3,532,770) 316,458,446 Class F US Dollar Accumulation Shares^ 6,559,615 3,012,159 (168,231) 9,403,543 Class S Euro Accumulation Shares^ 278,087,251 50,304,878 (34,830,143) 293,561,986 Class S Sterling Accumulation Shares 2,132,988,381 372,929,193 (257,747,872) 2,248,169,702 Class S Sterling Income Shares 303,890,705 – (29,884,669) 274,006,036 Blank Text Insight Enhanced Buy and Maintain Bond Fund Class S Sterling Accumulation Shares 77,560,258 – – 77,560,258 Blank Text Insight Buy and Maintain Bond Fund Class B Sterling Accumulation Shares 760,811,803 20,945,055 (243,469,517) 538,287,341 Class B Sterling Income Shares 604,223,867 341,070,218 – 945,294,085 Class S Sterling Accumulation Shares 321,017,211 20,199,349 (5,749,609) 335,466,951 Class S Sterling Income Shares 545,954,977 – (144,193) 545,810,784 Blank Text Insight Sustainable Euro Corporate Bond Fund** Class A Euro Accumulation Shares 608,639,116 210,292,081 (818,931,197) – Class S Euro Accumulation Shares 1,841 – (1,841) – Blank Text Insight Liquid ABS Fund Class B Euro Accumulation Shares^ 112,789,375 1,243,325 (1,033,765) 112,998,935 Class B Sterling Accumulation Shares 903,459,460 27,217,231 (354,914,159) 575,762,532 Class B Sterling Income Shares 283,877,413 109,850 (282,239,656) 1,747,607 Class B US Dollar Income Shares^ 98,978,616 68,878,487 – 167,857,103 Class S Euro Accumulation Shares^ 317,093,672 17,909,139 (6,052,087) 328,950,724 Class S Sterling Accumulation Shares 2,589,087,410 373,104,399 (367,603,501) 2,594,588,308 Class S Sterling Income Shares 58,111,073 21,805,300 (29,860,670) 50,055,703 Blank Text Insight Short Dated Buy and Maintain Bond Fund Class B Sterling Accumulation Shares 119,968,320 21,699,327 (6,199,738) 135,467,909 Class B US Dollar Accumulation Shares^,* – 56,110,992 – 56,110,992 Class S Sterling Accumulation Shares 108,108,415 77,709,884 (4,290,989) 181,527,310 Class S Sterling Income Shares 545,769,798 103,453,114 (74,100,226) 575,122,686 Blank Text

^These share classes are Hedged Currency share classes. *The above share classes launched during the financial period **On 27 March 2021, Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund.

75 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 3. Share Capital (Continued) Share Class movement for the six months ended 31 May 2020

Shares in issue Subscriptions & Shares in issue Share Class 30 Nov 19 Reinvestments Redemptions 31 May 20 Insight Emerging Markets Debt Fund Class S Sterling Accumulation Shares 42,966,800 – (19,409,434) 23,557,366 Class S Sterling Income Shares 1,238,085 – (388,570) 849,515 Blank Text Insight Global (ex-UK) Bond Fund Class S Sterling Accumulation Shares 1,008,887 – (12,384) 996,503 Class S2 Sterling Accumulation Shares 70,376 – – 70,376 Blank Text Insight High Grade ABS Fund Class A Euro Accumulation Shares^ 4,411,176 – (1,482,865) 2,928,311 Class A Sterling Accumulation Shares 95,022,180 121,906 (3,218,602) 91,925,484 Class A US Dollar Accumulation Shares^ 39,784,871 – (4,416,742) 35,368,129 Class B Sterling Accumulation Shares 299,062,488 26,873,924 (180,585,720) 145,350,692 Class F CHF Accumulation Shares^ 41,994,268 7,970,000 (3,860,000) 46,104,268 Class F Euro Accumulation Shares^ 38,157,536 11,038,383 (20,695,936) 28,499,983 Class F Sterling Accumulation Shares 548,125,561 200,117,456 (53,540,277) 694,702,740 Class F Sterling Income Shares 138,866,175 110,070,899 (10,828,615) 238,108,459 Class F US Dollar Accumulation Shares^ 13,029,385 424,270 (3,724,756) 9,728,899 Class S Euro Accumulation Shares^ 90,498,638 171,838,753 (3,659,308) 258,678,083 Class S Sterling Accumulation Shares 1,473,574,158 105,230,500 (20,232,389) 1,558,572,269 Class S Sterling Income Shares 418,296,422 12,520,277 (26,740,468) 404,076,231 Blank Text Insight Enhanced Buy and Maintain Bond Fund Class S Sterling Accumulation Shares 55,756,564 16,472,535 – 72,229,099 Blank Text Insight Buy and Maintain Bond Fund Class B Sterling Accumulation Shares 735,951,744 11,517,306 (23,474,710) 723,994,340 Class B Sterling Income Shares 574,115,030 30,791,568 (682,731) 604,223,867 Class S Sterling Accumulation Shares 295,327,462 18,269,303 (61,662,175) 251,934,590 Class S Sterling Income Shares 585,992,091 – (193,042) 585,799,049 Blank Text Insight Total Return Bond Fund Class A Euro Accumulation Shares 371,155 1,130 (202,183) 170,102 Class S Euro Income Shares 494,000 – – 494,000 Blank Text Insight Sustainable Euro Corporate Bond Fund Class A Euro Accumulation Shares 419,972,031 95,662,375 (45,156,910) 470,477,496 Class S Euro Accumulation Shares 1,841 – – 1,841 Blank Text Insight Liquid ABS Fund Class B Euro Accumulation Shares^ 64,855,760 452,628 (8,287,278) 57,021,110 Class B Sterling Accumulation Shares 951,897,756 13,301,798 (71,834,316) 893,365,238 Class B Sterling Income Shares 291,187,186 1,215,361 (6,955,278) 285,447,269 Class B US Dollar Income Shares^ 13,254,562 807,203 – 14,061,765 Class S Euro Accumulation Shares^ 193,445,698 62,820,096 (16,873,919) 239,391,875 Class S Sterling Accumulation Shares 2,878,370,812 202,269,627 (707,673,698) 2,372,966,741 Class S Sterling Income Shares* – 52,123,646 – 52,123,646 Blank Text Insight Short Dated Buy and Maintain Bond Fund Class B Sterling Accumulation Shares* – 26,327,697 – 26,327,697 Class S Sterling Accumulation Shares 56,422,835 16,032,217 – 72,455,052 Class S Sterling Income Shares 321,000,000 109,233,429 – 430,233,429 Blank Text

^These share classes are Hedged Currency share classes. *The above share classes launched during the period.

76 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 3. Share Capital (Continued) Share Class movement for the financial period ended 31 May 2021

Subscriptions & Net value of redeemable Reinvestments Redemptions participating shares Share Class Value Value during the year Insight Emerging Markets Debt Fund Class S Sterling Accumulation Shares £23,802,134 (£43,230,381) (£19,428,247) Class S Sterling Income Shares – (£211,970) (£211,970) Blank Text Insight Global (ex-UK) Bond Fund Class S Sterling Accumulation Shares – (£292,895) (£292,895) Class S2 Sterling Accumulation Shares £3,942,526 – £3,942,526 Blank Text Insight High Grade ABS Fund Class A Euro Accumulation Shares^ £11,426 – £11,426 Class A Sterling Accumulation Shares £24,168,062 (£202,930) £23,965,132 Class A US Dollar Accumulation Shares^ £2,696,074 – £2,696,074 Class B Sterling Accumulation Shares £5,945,505 (£17,728,095) (£11,782,590) Class F Euro Accumulation Shares^ £1,281,479 (£911,036) £370,443 Class F Sterling Accumulation Shares £49,992,756 (£91,614,993) (£41,622,237) Class F Sterling Income Shares £68,930,016 (£3,619,846) £65,310,170 Class F US Dollar Accumulation Shares^ £2,610,041 (£148,646) £2,461,395 Class S Euro Accumulation Shares^ £51,159,755 (£34,614,207) £16,545,548 Class S Sterling Accumulation Shares £641,209,642 (£442,429,741) £198,779,901 Class S Sterling Income Shares – (£30,941,138) (£30,941,138) Blank Text Insight Buy and Maintain Bond Fund Class B Sterling Accumulation Shares £31,679,701 (£371,600,492) (£339,920,791) Class B Sterling Income Shares £384,754,341 – £384,754,341 Class S Sterling Accumulation Shares £31,275,592 (£8,870,927) £22,404,665 Class S Sterling Income Shares – (£168,540) (£168,540) Blank Text Insight Sustainable Euro Corporate Bond Fund** Class A Euro Accumulation Shares €263,902,992 (€1,022,029,558) (€758,126,566) Class S Euro Accumulation Shares – (€2,350) (€2,350) Blank Text Insight Liquid ABS Fund Class B Euro Accumulation Shares^ £1,098,741 (£930,541) £168,200 Class B Sterling Accumulation Shares £29,360,063 (£381,609,132) (£352,249,069) Class B Sterling Income Shares £110,295 (£283,546,294) (£283,435,999) Class B US Dollar Income Shares^ £50,862,647 – £50,862,647 Class S Euro Accumulation Shares^ £15,760,461 (£5,311,439) £10,449,022 Class S Sterling Accumulation Shares £406,992,195 (£400,604,659) £6,387,536 Class S Sterling Income Shares £21,795,260 (£29,941,982) (£8,146,722) Blank Text Insight Short Dated Buy and Maintain Bond Fund Class B Sterling Accumulation Shares £22,763,722 (£6,455,464) £16,308,258 Class B US Dollar Accumulation Shares^,* £41,007,594 – £41,007,594 Class S Sterling Accumulation Shares £78,194,725 (£4,297,631) £73,897,094 Class S Sterling Income Shares £107,048,054 (£76,230,293) £30,817,761 Blank Text

^These share classes are Hedged Currency share classes. *The above share classes launched during the financial period. **On 27 March 2021, Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund.

77 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 3. Share Capital (Continued) Share Class movement for the financial period ended 31 May 2020

Subscriptions & Net value of redeemable Reinvestments Redemptions participating shares Share Class Value Value during the year Insight Emerging Markets Debt Fund Class S Sterling Accumulation Shares – (£261,308,000) (£261,308,000) Class S Sterling Income Shares – (£3,195,351) (£3,195,351) Blank Text Insight Global (ex-UK) Bond Fund Class S Sterling Accumulation Shares – (£314,621) (£314,621) Blank Text Insight High Grade ABS Fund Class A Euro Accumulation Shares^ £168,723,890 (£3,587,435) £165,136,455 Class A Sterling Accumulation Shares £159,547 (£4,151,187) (£3,991,640) Class A US Dollar Accumulation Shares^ – (£4,139,190) (£4,139,190) Class B Sterling Accumulation Shares £35,850,849 (£223,476,276) (£187,625,427) Class F CHF Accumulation Shares^ £6,308,406 (£3,019,782) £3,288,625 Class F Euro Accumulation Shares^ £10,546,915 (£19,668,463) (£9,121,549) Class F Sterling Accumulation Shares £219,759,431 (£57,750,866) £162,008,565 Class F Sterling Income Shares £113,359,800 (£10,939,856) £102,419,943 Class F US Dollar Accumulation Shares^ £391,141 (£3,526,312) (£3,135,171) Class S Euro Accumulation Shares^ – (£1,305,325) (£1,305,325) Class S Sterling Accumulation Shares £175,364,040 (£32,977,911) £142,386,130 Class S Sterling Income Shares £12,603,929 (£27,310,399) (£14,706,470) Blank Text Insight Enhanced Buy and Maintain Bond Fund Class S Sterling Accumulation Shares £24,847,562 – £24,847,562 Blank Text Insight Buy and Maintain Bond Fund Class B Sterling Accumulation Shares £15,853,276 (£33,424,952) (£17,571,676) Class B Sterling Income Shares £33,235,906 (£738,343) £32,497,562 Class S Sterling Accumulation Shares £26,251,746 (£86,090,507) (£59,838,761) Class S Sterling Income Shares – (£221,842) (£221,842) Blank Text Insight Total Return Bond Fund Class A Euro Accumulation Shares €108,934 (€19,204,063) (€19,095,129) Blank Text Insight Sustainable Euro Corporate Bond Fund Class A Euro Accumulation Shares €114,587,534 (€53,938,405) €60,649,130 Blank Text Insight Liquid ABS Fund Class B Euro Accumulation Shares^ £390,248 £7,128,933 (£6,738,684) Class B Sterling Accumulation Shares £14,153,698 £75,527,935 (£61,374,238) Class B Sterling Income Shares £1,215,258 £6,810,279 (£5,595,021) Class B US Dollar Income Shares^ £631,583 – £631,583 Class S Euro Accumulation Shares^ £54,028,281 £14,611,354 £39,416,927 Class S Sterling Accumulation Shares £217,064,725 £749,733,759 (£532,669,034) Class S Sterling Income Shares* £52,170,558 – £52,170,558 Blank Text Insight Short Dated Buy and Maintain Bond Fund Class B Sterling Accumulation Shares* £26,563,268 – £26,563,268 Class S Sterling Accumulation Shares £108,532,645 – £108,532,645 Class S Sterling Income Shares £15,818,348 – £15,818,348 Blank Text

^These share classes are Hedged Currency share classes. *The above share classes launched during the period.

78 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 3. Share Capital (Continued) Net Asset Value and NAV per share comparative table

NAV per NAV per NAV per NAV at share NAV at share NAV at share Share Class 31 May 21 31 May 21 30 Nov 20 30 Nov 20 30 Nov 19 30 Nov 19 Insight Emerging Markets Debt Fund Class S Sterling Accumulation Shares £267,703,183 £14.25 £287,583,639 £14.26 £596,430,077 £13.88 Class S Sterling Income Shares £6,500,256 £8.09 £6,822,252 £8.22 £10,292,539 £8.31

Blank Text Insight Global (ex-UK) Bond Fund Class S Sterling Accumulation Shares £15,841,848 £24.05 £17,734,681 £26.44 £25,527,782 £25.30 Class S2 Sterling Accumulation Shares £67,187,197 £1,313.19 £69,699,318 £1,443.63 £97,220,439 £1,381.45

Blank Text Insight High Grade ABS Fund Class A Euro Accumulation Shares^ €3,080,747 €1.05 €3,037,246 €1.04 €4,579,481 €1.04 Class A Sterling Accumulation Shares £190,302,814 £1.34 £163,939,866 £1.32 £124,355,616 £1.31 Class A US Dollar Accumulation Shares^ $3,840,930 $1.19 $51,796 $1.17 $46,214,897 $1.16 Class B Sterling Accumulation Shares £183,227,796 £1.37 £192,320,306 £1.35 £399,261,982 £1.34 Class F CHF Accumulation Shares^ – – – – CHF42,164,036 CHF1.00 Class F Euro Accumulation Shares^ €177,881,794 €1.15 €175,548,697 €1.13 €43,213,545 €1.13 Class F Sterling Accumulation Shares £561,696,808 £1.12 £594,672,976 £1.11 £602,816,288 £1.10 Class F Sterling Income Shares £327,062,200 £1.03 £258,662,348 £1.02 £143,204,964 £1.03 Class F US Dollar Accumulation Shares^ $11,568,192 $1.23 $7,944,861 $1.21 $15,523,296 $1.19 Class S Euro Accumulation Shares^ €340,721,427 €1.16 €318,765,472 €1.15 €103,272,073 €1.14 Class S Sterling Accumulation Shares £3,907,705,805 £1.74 £3,649,689,576 £1.71 £2,491,315,045 £1.69 Class S Sterling Income Shares £285,208,385 £1.04 £313,471,803 £1.03 £434,429,290 £1.04

Blank Text Insight Enhanced Buy and Maintain Bond Fund Class S Sterling Accumulation Shares £122,592,469 £1.58 £124,084,265 £1.60 £81,654,998 £1.46

Blank Text Insight Buy and Maintain Bond Fund Class B Sterling Accumulation Shares £814,940,878 £1.51 £1,164,547,795 £1.53 £1,056,835,467 £1.44 Class B Sterling Income Shares £1,050,908,639 £1.11 £687,576,692 £1.14 £628,915,265 £1.10 Class S Sterling Accumulation Shares £513,310,536 £1.53 £496,253,311 £1.55 £427,663,416 £1.45 Class S Sterling Income Shares £634,028,492 £1.16 £649,180,422 £1.19 £670,747,445 £1.14

Blank Text Insight Total Return Bond Fund* Class A Euro Accumulation Shares – – – – €35,248,606 €94.97 Class S Euro Income Shares – – – – €46,827,419 €94.79

Blank Text Insight Sustainable Euro Corporate Bond Fund** Class A Euro Accumulation Shares – – €761,869,273 €1.25 €506,022,469 €1.20 Class S Euro Accumulation Shares – – €2,355 €1.28 €2,261 €1.23

Blank Text

^These share classes are Hedged Currency share classes. **Insight Total Return Bond Fund fully redeemed on 24 November 2020 and is in the process of revocation as at 31 May 2021. ***On 27 March 2021, Insight Sustainable Euro Corporate Bond Fund merged into the Responsible Horizons Euro Corporate Bond Fund.

79 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 3. Share Capital (Continued)

NAV per NAV per NAV per NAV at share NAV at share NAV at share Share Class 31 May 21 31 May 21 30 Nov 20 30 Nov 20 30 Nov 19 30 Nov 19 Insight Liquid ABS Fund Class B Euro Accumulation Shares^ €113,911,470 €1.01 €113,153,144 €1.00 €65,056,437 €1.00 Class B Sterling Accumulation Shares £623,748,988 £1.08 £971,056,744 £1.07 £1,012,948,764 £1.06 Class B Sterling Income Shares £1,761,521 £1.01 £284,895,357 £1.00 £292,619,132 £1.00 Class B US Dollar Income Shares^ $171,018,607 $1.02 $100,231,965 $1.01 $13,369,585 $1.01 Class S Euro Accumulation Shares^ €337,306,961 €1.03 €323,329,469 €1.02 €196,959,127 €1.02 Class S Sterling Accumulation Shares £2,846,398,949 £1.10 £2,815,981,324 £1.09 £3,094,920,027 £1.08 Class S Sterling Income Shares £50,389,342 £1.01 £58,244,697 £1.00 – –

Blank Text Insight Short Dated Buy and Maintain Bond Fund Class B Sterling Accumulation Shares £142,889,422 £1.05 £125,796,537 £1.05 – – Class B US Dollar Accumulation Shares^,* $56,147,018 $1.00 – – – – Class S Sterling Accumulation Shares £183,077,273 £1.01 £109,834,829 £1.02 £56,477,705 £1.00 Class S Sterling Income Shares £599,956,976 £1.04 £565,714,360 £1.04 £320,726,376 £1.00

Blank Text

^These share classes are Hedged Currency share classes. *The above share classes launched during the financial period.

4. Cash at Bank and Collateral Cash Balances All cash at bank balances and bank overdrafts are held with The Northern Trust Company (“TNTC”), which is a 100% indirect wholly owned subsidiary of Northern Trust Corporation which has an S&P credit rating of A+ (30 November 2020: A+). Insight Emerging Markets Debt Fund and Insight Global (ex-UK) Bond Fund have an uncommitted borrowing facility of up to 10% of the Fund’s Net Asset Value. Margin cash for futures are held with Morgan Stanley, who has an S&P credit rating of A+ (30 November 2020: A+). Details of the counterparties with whom collateral cash for swaps are held are outlined in Note 10.

5. Related Party Disclosures FRS 102 requires an entity to include in its Financial Statements the disclosures necessary to draw attention to the possibility that its financial position and profit or loss have been affected by the existence of related parties and by transactions and outstanding balances with such parties. The following transactions with related parties were entered into during the period under review by the Company in the ordinary course of business and on commercial terms: Insight Investment Funds Management Limited as “Investment Manager” earned fees of £5,487,051 (31 May 2020: £5,676,470) of which £1,492,877 (30 November 2020: £1,051,538) was due at the period end. Insight Investment Management (Europe) Limited as “Manager” earned fixed operating expenses of £3,931,117 (31 May 2020: £3,537,678) of which £1,201,608 (30 November 2020: £707,799) was due at the period end.

The Company invests in the following funds:

BNY Mellon Global Funds PLC – BNY Mellon Short-Dated High Yield Bond Fund Insight Liquidity Funds PLC – Euro Cash Fund Insight Liquidity Funds PLC – GBP Liquidity Fund Insight Liquidity Funds PLC – USD Liquidity Fund

Details of each Fund’s holdings are shown in its respective Portfolio and Schedule of Investments. The Company is not subject to any investment management fees payable by such Funds as Insight Liquidity Funds PLC and BNY Mellon Global Funds PLC are under the same Investment Manager.

80 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 5. Related Party Disclosures (Continued) The following table shows the cumulative transactions of each Fund with investments in related parties during the period:

Six months ended 31 May 2021

Fund with Related party investment in related party Fund Purchases Sales Insight Emerging Markets Debt Fund Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 £12,799,678 £12,898,164 Insight Global (ex-UK) Bond Fund Insight Liquidity Funds PLC - EUR Cash Fund - Share Class 2 £2,535,821 £2,536,266 Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 £20,083,660 £16,926,343 Insight High Grade ABS Fund Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 £121,074,393 £84,050,000 Insight Enhanced Buy and Maintain Insight Liquidity Funds PLC - GBP Liquidity Fund Bond Fund - Share Class 2 £6,390,188 £7,070,000 Insight Buy and Maintain Bond Fund Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 £228,377,177 £258,835,000 Insight Liquid ABS Fund Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 £183,882,512 £238,825,000 Insight Short Dated Buy and Insight Liquidity Funds PLC – GBP Liquidity Fund Maintain Bond Fund – Share Class 2 £133,269,619 £150,117,354 Financial year ended 30 November 2020

Fund with Related party investment in related party Fund Purchases Sales Insight Emerging Markets Debt Fund Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 £40,739,751 £55,851,062 Insight Global (ex-UK) Bond Fund Insight Liquidity Funds PLC - EUR Cash Fund - Share Class 2 £17,878,565 £22,326,979 Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 £42,199,535 £39,570,584 Insight High Grade ABS Fund Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 £2,097,104,822 £1,857,211,147 Insight Diversified Corporate Bond Insight Liquidity Funds PLC - GBP Liquidity Fund Fund - Share Class 2 £32,169,569 £33,606,832 BNY Mellon Global Funds PLC – BNY Mellon Short-Dated High Yield Bond Fund – Share Class Sterling X £2,864,660 £2,725,462 Insight Buy and Maintain Bond Fund Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 £651,210,721 £690,969,287 Insight Total Return Bond Fund* Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 €2,168,673 €3,398,564 Insight Liquid ABS Fund Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 £1,303,057,016 £1,314,934,530 Insight Short Dated Buy and Insight Liquidity Funds PLC – GBP Liquidity Fund Maintain Bond Fund – Share Class 2 £271,299,826 £265,700,000

*Insight Total Return Bond Fund fully redeemed on 24 November 2020 and is in the process of revocation.

The Company is not subject to any investment management fees payable by the above Funds. Gregory Brisk and Lee Hutson-Pope are also Directors of the Investment Manager and have waived their fees for the period ended 31 May 2021. On 3 December 2020, Charles Farquharson retired as Non-Executive Director of Insight Global Funds II PLC and as a Director of Insight Investment Management (Europe) Limited.

6. Transactions with Connected Persons Any transaction carried out with a UCITS by a management company or depositary to the UCITS, the delegates or sub-delegates of the management company or depositary, and any associated or group of such a management company, depositary, delegate or sub-delegate (“connected persons”) must be carried out as if negotiated at arm’s length. Transactions must be in the best interests of the shareholders. 81 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 6. Transactions with Connected Persons (Continued) The Directors are satisfied that there are arrangements (evidenced by written procedures) in place, to ensure that the obligations set out in Regulation 43(1) of the Central Bank UCITS Regulations are applied to all transactions with connected persons, and are satisfied that transactions with connected persons entered into during the period complied with the obligations set out in Regulation 43(1) of the Central Bank UCITS Regulations.

7. Directors’ Fees The Directors’ fees for the period amounted to £21,033 (31 May 2020: £20,768).

8. Fair Value of Financial Instruments Fair Value Hierarchy FRS 102 section on “Fair Value: Disclosure” requires disclosure relating to the fair value hierarchy in which fair value measurements are categorised for financial assets and financial liabilities. The disclosures are based on a three-level fair value hierarchy for the inputs used in valuation techniques to measure fair value. Level 1 - The unadjusted quoted price in an active market for identical assets or liabilities that the entity can access at the measurement date. Level 2 - Inputs other than quoted prices included within Level 1 that are observable (i.e. developed using market data) for the asset or liability, either directly or indirectly. Level 3 - Inputs are unobservable (i.e. for which market data is unavailable) for the asset or liability. A fair value measurement is categorised in its entirety on the basis of the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. The following table sets out the classification of the Company’s financial instruments as at 31 May 2021, measured at fair value in accordance with FRS 102:

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Emerging Markets Debt Fund Assets Financial assets held for trading: Forward currency contracts 548,246 – 548,246 – Government bonds 223,984,832 122,385,678 101,599,154 – Investment funds 12,873,682 12,873,682 – – 237,406,760 135,259,360 102,147,400 –

Liabilities Financial liabilities held for trading: Forward currency contracts (1,640,471) – (1,640,471) – Futures contracts (40,872) (40,872) – – (1,681,343) (40,872) (1,640,471) –

82 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 8. Fair Value of Financial Instruments (Continued) Fair Value Hierarchy (Continued)

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Global (ex-UK) Bond Fund Assets Financial assets held for trading: Corporate bonds 2,902,375 – 2,902,375 – Forward currency contracts 44,294 – 44,294 – Futures contracts 53,204 53,204 – – Government bonds 74,114,017 64,149,872 9,964,145 – Investment funds 5,489,281 5,489,281 – – Mortgage backed securities 37,338 – 37,338 – 82,640,509 69,692,357 12,948,152 –

Liabilities Financial liabilities held for trading: Forward currency contracts (119,815) – (119,815) – Futures contracts (39,516) (39,516) – – (159,331) (39,516) (119,815) –

Total Level 1 Level 2 Level 3 £ £ £ £ Insight High Grade ABS Fund Assets Financial assets held for trading: Asset backed securities 2,220,222,482 – 2,198,755,098 21,467,384 Corporate bonds 18,765,519 – 18,765,519 – Floating rate loan participations 49,499,418 – – 49,499,418 Floating rate notes 191,916,069 – 173,828,184 18,087,885 Forward currency contracts 53,040,748 – 53,040,748 – Government bonds 1,724,262 1,724,262 – – Investment funds 512,842,885 512,842,885 – – Mortgage backed securities 2,601,892,164 – 2,588,732,061 13,160,103 5,649,903,547 514,567,147 5,033,121,610 102,214,790

Liabilities Financial liabilities held for trading: Forward currency contracts (4,804,447) – (4,804,447) – (4,804,447) – (4,804,447) –

83 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 8. Fair Value of Financial Instruments (Continued) Fair Value Hierarchy (Continued)

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Enhanced Buy and Maintain Bond Fund Assets Financial assets held for trading: Asset backed securities 4,734,792 – 4,734,792 – Corporate bonds 99,995,819 – 99,995,819 – Floating rate notes 11,421,063 – 11,421,063 – Forward currency contracts 177,895 – 177,895 – Futures contracts 12,829 12,829 – – Government bonds 525,490 525,490 – – Interest rate swaps 99,427 – 99,427 – Investment funds 253,341 253,341 – – Mortgage backed securities 2,455,338 – 2,455,338 – 119,675,994 791,660 118,884,334 –

Liabilities Financial liabilities held for trading: Futures contracts (848) (848) – – Interest rate swaps (74,950) – (74,950) – (75,798) (848) (74,950) –

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Buy and Maintain Bond Fund Assets Financial assets held for trading: Asset backed securities 148,977,905 – 148,977,905 – Corporate bonds 2,285,908,480 – 2,285,908,480 – Floating rate notes 276,636,983 – 276,636,983 – Forward currency contracts 9,734,433 – 9,734,433 – Futures contracts 1,734,799 1,734,799 – – Government bonds 121,847,944 121,847,944 – – Interest rate swaps 28,069,572 – 28,069,572 – Investment funds 23,443,532 23,443,532 – – Mortgage backed securities 83,245,180 – 83,245,180 – 2,979,598,828 147,026,275 2,832,572,553 –

Liabilities Financial liabilities held for trading: Forward currency contracts (391,987) – (391,987) – Futures contracts (456,039) (456,039) – – Interest rate swaps (1,237,933) – (1,237,933) – (2,085,959) (456,039) (1,629,920) –

84 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 8. Fair Value of Financial Instruments (Continued) Fair Value Hierarchy (Continued)

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Liquid ABS Fund Assets Financial assets held for trading: Asset backed securities 969,461,202 – 969,461,202 – Floating rate notes 79,171,318 – 79,171,318 – Forward currency contracts 25,918,771 – 25,918,771 – Investment funds 381,564,600 381,564,600 – – Mortgage backed securities 2,509,185,346 – 2,509,185,346 – 3,965,301,237 381,564,600 3,583,736,637 –

Liabilities Financial liabilities held for trading: Forward currency contracts (4,128,444) – (4,128,444) – (4,128,444) – (4,128,444) –

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Short Dated Buy and Maintain Bond Fund Assets Financial assets held for trading: Asset backed securities 8,276,805 – 8,276,805 – Corporate bonds 691,402,170 – 691,402,170 – Floating rate notes 139,813,449 – 139,813,449 – Forward currency contracts 2,651,207 – 2,651,207 – Futures contracts 155,996 155,996 – – Government bonds 36,826,073 36,826,073 – – Investment funds 1,747,092 1,747,092 – – Mortgage backed securities 65,798,172 – 65,798,172 – 946,670,964 38,729,161 907,941,803 –

Liabilities Financial liabilities held for trading: Forward currency contracts (178,736) – (178,736) – Futures contracts (102,765) (102,765) – – Interest rate swaps (118,763) – (118,763) – (400,264) (102,765) (297,499) –

85 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 8. Fair Value of Financial Instruments (Continued) Fair Value Hierarchy (Continued) 30 November 2020 Comparatives

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Emerging Markets Debt Fund Assets Financial assets held for trading: Corporate bonds 133,671 – 133,671 – Currency options 478,563 – 478,563 – Forward currency contracts 7,927,341 – 7,927,341 – Futures contracts 4,505 4,505 – – Government bonds 255,242,624 90,018,263 165,224,361 – Investment funds 13,738,413 13,738,413 – – 277,525,117 103,761,181 173,763,936 –

Liabilities Financial liabilities held for trading: Currency options (151,051) – (151,051) – Forward currency contracts (4,562,070) – (4,562,070) – (4,713,121) – (4,713,121) –

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Global (ex-UK) Bond Fund Assets Financial assets held for trading: Corporate bonds 4,402,141 489,130 3,913,011 – Forward currency contracts 53,691 – 53,691 – Futures contracts 39,872 39,872 – – Government bonds 79,571,085 60,168,564 19,402,521 – Investment funds 2,508,019 2,508,019 – – Mortgage backed securities 43,107 – 43,107 – 86,617,915 63,205,585 23,412,330 –

Liabilities Financial liabilities held for trading: Forward currency contracts (152,774) – (152,774) – Futures contracts (153,927) (153,927) – – (306,701) (153,927) (152,774) –

Total Level 1 Level 2 Level 3 £ £ £ £ Insight High Grade ABS Fund Assets Financial assets held for trading: Asset backed securities 2,187,929,318 – 2,186,061,959 1,867,359 Corporate bonds 6,775,111 – 6,775,111 – Floating rate loan participations 67,698,986 – – 67,698,986 Floating rate notes 25,300,123 – 25,300,123 – Forward currency contracts 39,718,762 – 39,718,762 – Investment funds 475,819,268 475,819,268 – – Mortgage backed securities 2,848,117,996 – 2,835,302,686 12,815,310 5,651,359,564 475,819,268 5,093,158,641 82,381,655

Liabilities Financial liabilities held for trading: Forward currency contracts (15,619,010) – (15,619,010) – (15,619,010) – (15,619,010) –

86 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 8. Fair Value of Financial Instruments (Continued) Fair Value Hierarchy (Continued) 30 November 2020 Comparatives (Continued)

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Diversified Corporate Bond Fund Assets Financial assets held for trading: Asset backed securities 4,742,961 – 4,742,961 – Corporate bonds 101,499,470 702,184 100,797,286 – Floating rate notes 10,460,406 – 10,460,406 – Forward currency contracts 227,495 – 227,495 – Futures contracts 3,022 3,022 – – Government bonds 3,543,963 3,543,963 – – Interest rate swaps 212,159 – 212,159 – Investment funds 933,153 933,153 – – Mortgage backed securities 585,594 – 585,594 – 122,208,223 5,182,322 117,025,901 –

Liabilities Financial liabilities held for trading: Credit default swaps (18,984) – (18,984) – Forward currency contracts (35,336) – (35,336) – Futures contracts (95,990) (95,990) – – (150,310) (95,990) (54,320) –

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Buy and Maintain Bond Fund Assets Financial assets held for trading: Asset backed securities 137,305,350 – 137,305,350 – Corporate bonds 2,388,336,120 47,351,466 2,340,984,654 – Floating rate notes 222,893,623 – 222,893,623 – Forward currency contracts 16,631,588 – 16,631,588 – Futures contracts 310,008 310,008 – – Government bonds 57,123,238 42,028,679 15,094,559 – Interest rate swaps 27,008,265 – 27,008,265 – Investment funds 53,901,353 53,901,353 – – Mortgage backed securities 54,046,998 – 54,046,998 – 2,957,556,543 143,591,506 2,813,965,037 –

Liabilities Financial liabilities held for trading: Forward currency contracts (2,560,767) – (2,560,767) – Futures contracts (1,680,203) (1,680,203) – – Interest rate swaps (641,363) – (641,363) – (4,882,333) (1,680,203) (3,202,130) –

87 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 8. Fair Value of Financial Instruments (Continued) Fair Value Hierarchy (Continued) 30 November 2020 Comparatives (Continued)

Total Level 1 Level 2 Level 3 € € € € Insight Total Return Bond Fund Assets Financial assets held for trading: Currency options 441 – 441 – Forward currency contracts 189,926 – 189,926 – 190,367 – 190,367 –

Liabilities Financial liabilities held for trading: Currency options (441) – (441) – Forward currency contracts (137,212) – (137,212) – (137,653) – (137,653) –

Total Level 1 Level 2 Level 3 € € € € Insight Sustainable Euro Corporate Bond Fund Assets Financial assets held for trading: Corporate bonds 612,462,759 2,309,781 610,152,978 – Floating rate notes 143,949,999 – 143,949,999 – Forward currency contracts 169,424 – 169,424 – Futures contracts 5,019 5,019 – – 756,587,201 2,314,800 754,272,401 –

Liabilities Financial liabilities held for trading: Credit default swaps (577,536) – (577,536) – Forward currency contracts (7,078) – (7,078) – Futures contracts (438,097) (438,097) – – (1,022,711) (438,097) (584,614) –

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Liquid ABS Fund Assets Financial assets held for trading: Asset backed securities 1,032,722,853 – 1,032,722,853 – Corporate bonds 5,808,403 – 5,808,403 – Forward currency contracts 18,185,503 – 18,185,503 – Investment funds 436,507,844 436,507,844 – – Mortgage backed securities 2,903,336,574 – 2,903,336,574 – 4,396,561,177 436,507,844 3,960,053,333 –

Liabilities Financial liabilities held for trading: Forward currency contracts (11,502,868) – (11,502,868) – (11,502,868) – (11,502,868) –

88 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 8. Fair Value of Financial Instruments (Continued) Fair Value Hierarchy (Continued) 30 November 2020 Comparatives (Continued)

Total Level 1 Level 2 Level 3 £ £ £ £ Insight Short Dated Buy and Maintain Bond Fund Assets Financial assets held for trading: Asset backed securities 1,631,564 – 1,631,564 – Corporate bonds 549,478,865 26,462,993 523,015,872 – Floating rate notes 118,165,971 – 118,165,971 – Forward currency contracts 2,418,596 – 2,418,596 – Futures contracts 10,030 10,030 – – Government bonds 45,268,208 45,268,208 – – Interest rate swaps 25,646 – 25,646 – Investment funds 18,594,827 18,594,827 – – Mortgage backed securities 56,179,694 – 56,179,694 – 791,773,401 90,336,058 701,437,343 –

Liabilities Financial liabilities held for trading: Forward currency contracts (325,381) – (325,381) – Futures contracts (132,851) (132,851) – – (458,232) (132,851) (325,381) –

Within the Funds noted on the tables below, there are a number of fixed income investments that have been classified as Level 3 assets. These are classified as Floating rate loan participations, Asset backed securities and Mortgage backed securities within the Portfolio and Schedule of Investments. These assets are priced independently of the Investment Manager, however in all cases are valued by only one pricing vendor. Due to the private nature of the underlying assets, directly comparable data is not readily available, and the assets are therefore deemed to be Level 3. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. There were no significant transfers between Level 1 and Level 2 during the period. There were transfers from Level 2 to Level 1 for certain Corporate bonds based on the level of market activity available at 30 November 2020. The following table represents the movement in Level 3 investments for the period ended 31 May 2021 and for the financial year ended 30 November 2020:

Insight High Grade ABS Fund 31 May 2021 30 November 2020 Level 3 Level 3 £ £ Opening Value 82,381,655 84,099,860 Transfer from Level 2 20,426,555 17,754,901 Purchases 18,054,054 – Sales (18,715,471) (17,710,782) Realised loss (111,909) (66,876) Unrealised gain/(loss) 179,906 (1,695,448) Closing Value 102,214,790 82,381,655 Due to the lack of activity in the market, absence of readily available market information and the level of judgment required, these investments are deemed to be Level 3.

89 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 8. Fair Value of Financial Instruments (Continued) Sensitivity of fair value measurement to changes in unobservable inputs Although the Investment Manager believes that its estimates of fair value are appropriate, the use of different methodologies or assumptions could lead to different measurements of fair value. For fair value measurements in Level 3, in changing one or more of the assumptions used to reasonably possible alternative assumptions by decreasing or increasing by 5% with all other variables held constant, the impact on valuation is shown in the table below:

Fair value as at Fund 31 May 2021 Sensitivity Change in valuation Insight High Grade ABS Fund £102,214,790 +/-5% £5,110,740/(£5,110,740)

Fair value as at Fund 30 November 2020 Sensitivity Change in valuation Insight High Grade ABS Fund £82,381,655 +/-5% £4,119,083/(£4,119,083) 9. Financial Derivative Instruments During the period, forward foreign currency contracts, future contracts, credit default swaps, interest rate swaps, options and swaptions were entered into for the purpose of hedging. Such transactions are entered into in accordance with conditions laid down by the Central Bank of Ireland (the “Central Bank”) from time to time in respect of the use of financial derivative instruments. All open positions of each Fund are disclosed on its Portfolio and Schedule of Investments.

10. Collateral Positions As at 31 May 2021, the market value of securities and cash pledged and received as collateral by the Funds is outlined in the table below, in connection with the requirements for over the counter derivative instruments held by the Funds.

Cash Cash Stock Stock Collateral Collateral Collateral Collateral Fund Name Pledged Received Pledged Received Insight Emerging Markets Debt Fund (£1,911,000) £300,000 - - Insight Global (ex-UK Bond) Fund - - - - Insight High Grade ABS Fund - £50,070,000 - - Insight Enhanced Buy and Maintain Bond Fund - £120,000 - - Insight Buy and Maintain Bond Fund (£1,400,000) £38,129,000 - - Insight Liquid ABS Fund £22,320,000 - - Insight Short Dated Buy and Maintain Bond Fund (£310,000) £2,550,000 - -

90 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 10. Collateral Positions (Continued) As at 31 May 2021 and 30 November 2020, UK Government bonds and cash were used as collateral. The credit rating for the government bonds used as collateral was AA (30 November 2020: AA). Where stock collateral is pledged, legal and beneficial interest is transferred so the recipient of the collateral is free to use the assets as they wish. The level of Collateral required will be at least equal to the mid-market mark to market exposure of each Fund to each relevant counterparty at the time of valuation, subject to threshold and minimum transfer amounts. Cash collateral is held with Barclays Bank, BNP Paribas, Citibank, Goldman Sachs, HSBC Bank, JP Morgan, Lloyds Bank, Morgan Stanley, NatWest Markets and UBS. (30 November 2020: Barclays Bank, BNP Paribas, Citibank, Credit Suisse International, Goldman Sachs, HSBC Bank, JP Morgan, Lloyds Bank, Merrill Lynch, Morgan Stanley, NatWest Markets, Royal Bank of Canada and Toronto-Dominion Bank).

30 November 2020

Cash Cash Stock Stock Collateral Collateral Collateral Collateral Fund Name Pledged Received Pledged Received Insight Emerging Markets Debt Fund (£1,490,000) £5,565,000 - - Insight High Grade ABS Fund (£1,040,000) £33,521,000 - - Insight Diversified Corporate Bond Fund - £230,000 - £134,686 Insight Buy and Maintain Bond Fund - £41,406,000 - - Insight Sustainable Euro Corporate Bond Fund (€730,000) - - - Insight Liquid ABS Fund (£2,981,000) £14,387,000 - - Insight Short Dated Buy and Maintain Bond Fund - £2,770,000 - -

91 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 11. Exchange Rates

The exchange rates to Sterling were:

Hidden Text 31 May 2021 30 November 2020 31 May 2020 Argentine peso 134.0779 108.5336 84.6633 Australian dollar 1.8391 1.8118 1.8625 Brazilian real 7.4037 7.1908 6.7145 Canadian dollar 1.7128 1.7301 1.7088 Chilean peso 1,027.8423 1,024.0242 995.4690 Colombian peso 5,263.0609 4,787.8671 4,590.3300 Czech kroner 29.6536 29.3578 29.9198 Danish kroner 8.6558 8.3074 8.2841 Dominican Republic peso 80.4063 77.7801 70.8709 Egyptian pound 22.2035 20.9470 19.6077 Euro 1.1639 1.1161 1.1114 Hungarian forint 405.1259 400.7665 384.9331 Indian rupee 102.7126 98.8689 93.4844 Indonesian rupiah 20,253.9937 18,850.9215 18,062.3500 Israeli shekel 4.6074 4.4123 4.3313 Japanese yen 155.9281 139.2125 133.1928 Kazakhstan tenge 607.5489 568.3780 509.1579 Malaysian ringgit 5.8607 5.4390 5.3748 Mexican nuevo peso 28.2925 26.9100 27.3590 New Zealand dollar 1.9557 1.8996 1.9965 Nigerian naira 582.0276 514.9960 477.9290 Norwegian kroner 11.8471 11.8240 12.0170 Peruvian sol 5.3432 4.8161 4.2476 Philippine peso 67.7697 64.1893 62.5815 Polish zloty 5.2190 5.0038 4.9504 Romanian new leu 57,265.5620 5.4375 5.3809 Russian ruble 103.8664 102.1247 87.3338 South African rand 19.5468 20.6616 21.7954 South Korean won 1,581.3286 1,477.3008 1,531.1000 Swedish krona 11.7991 11.4144 11.6439 Swiss franc 1.2761 1.2086 1.1877 Thai baht 44.3078 40.3853 39.3267 Turkish lira 12.1492 10.4431 8.4334 Ukranian hryvna 39.0055 38.0523 33.2565 Uruguayan peso 62.0593 56.9132 53.4533 US dollar 1.4179 1.3351 1.2363 Yuan offshore 9.0296 8.7846 8.8571 Yuan renminbi 9.0256 8.7876 8.8341

92 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 11. Exchange Rates (Continued)

The exchange rates to Euro were:

Hidden Text 31 May 2021 30 November 2020 31 May 2020 Argentine peso 115.1935 97.2457 76.1751 Australian dollar 1.5801 1.6234 1.6757 Brazilian real 6.3609 6.4429 6.0413 Canadian dollar 1.4715 1.5502 1.5375 Chilean peso 883.0745 917.5220 895.6648 Colombian peso 4,521.7781 4,289.9112 4,130.1083 Czech kroner 25.4770 26.3045 26.9201 Danish kroner 7.4366 7.4434 7.4535 Dominican Republic peso 69.0814 69.6907 63.7655 Egyptian pound 19.0763 18.7684 17.6419 Hungarian forint 348.0654 359.0853 346.3403 Indian rupee 88.2459 88.5862 84.1118 Indonesian rupiah 17,401.2932 16,890.3562 16,251.4400 Israeli shekel 3.9584 3.9534 3.8970 Japanese yen 133.9662 124.7338 119.8391 Kazakhstan tenge 521.9779 509.2646 458.1105 Malaysian ringgit 5.0352 4.8733 4.8359 Mexican nuevo peso 24.3076 24.1112 24.6160 New Zealand dollar 1.6802 1.7020 1.7963 Nigerian naira 500.0512 461.4345 430.0126 Norwegian kroner 10.1785 10.5943 10.8122 Peruvian sol 4.5907 4.3152 3.8217 Philippine peso 58.2246 57.5133 56.3072 Polish zloty 4.4840 4.4834 4.4541 Pound sterling 0.8592 0.8960 0.8997 Romanian new leu 49,199.9181 4.8719 4.8415 Russian ruble 89.2372 91.5034 78.5779 South African rand 16.7937 18.5127 19.6102 South Korean won 1,358.6043 1,323.6561 1,377.5900 Swedish krona 10.1372 10.2272 10.4765 Swiss franc 1.0964 1.0829 1.0686 Thai baht 38.0672 36.1851 35.3839 Turkish lira 10.4380 9.3570 7.5879 Ukranian hryvna 33.5117 34.0947 29.9222 Uruguayan peso 53.3185 50.9940 48.0942 US dollar 1.2182 1.1962 1.1124 Yuan offshore 7.7578 7.8709 7.9691 Yuan renminbi 7.7544 7.8736 7.9484

12. Segregated Liability The Company has segregated liability between its Funds and accordingly any liability incurred on behalf of or attributable to any Fund shall be discharged solely out of the assets of that Fund.

93 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 13. Distributions Distributions paid by each share class during the period are detailed in the table below. All distributions are paid out of income.

31 May 2021 31 May 2020 Insight Emerging Markets Debt Fund Class S Sterling Income Shares £105,571 £191,480

Insight High Grade ABS Fund Class F Sterling Income Shares £1,412,040 £1,741,027 Class S Sterling Income Shares £2,097,313 £4,477,032

Insight Buy and Maintain Bond Fund Class B Sterling Income Shares £10,271,945 £8,159,200 Class S Sterling Income Shares £8,372,495 £9,206,699

Insight Total Return Bond Fund Class S Euro Income Shares - €453,738

Insight Liquid ABS Fund Class B Sterling Income Shares £531,200 £1,973,203 Class B US Dollar Income Shares $458,642 $80,551 Class S Sterling Income Share £233,018 -

Insight Short Dated Buy and Maintain Bond Fund Class S Sterling Income Shares £1,641,882 £428,880

14. Foreign Exchange Adjustment The currency adjustment loss of £14,941,887 (31 May 2020: gain of £28,851,725) in the Statement of Changes in Net Assets Attributable to Holders of Redeemable Participating Shares is due to the movement in exchange rates during the period. This currency adjustment has no impact on the Net Asset Value of the individual Funds.

15. Reconciliation of Net Asset Value to Dealing NAV The financial statement Net Asset Value for the below Funds has been adjusted to take account of subscription/ redemption requests received post valuation dealing at the financial period/year end as required by FRS 102. The table below shows a reconciliation from dealing Net Asset Value to the financial statements Net Asset Value for 31 May 2021.

As at 31 May 2021: Insight Short Dated Buy and Maintain Bond Fund

£ Net Assets value as reported to shareholders 954,687,505 Subscription requests received post valuation 10,800,000 Adjusted Net Assets value per Financial Statements 965,487,505

94 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 15. Reconciliation of Net Asset Value to Dealing NAV (Continued) The financial statement Net Asset Value for the below Funds has been adjusted to take account of subscription/ redemption requests received post valuation dealing at the financial period/year end as required by FRS 102. The table below shows a reconciliation from dealing Net Asset Value to the financial statements Net Asset Value for 30 November 2020.

As at 30 November 2020: Insight Insight Short Dated Sustainable Euro Buy and Corporate Bond Maintain Fund Bond Fund

£ £ Net Assets value as reported to shareholders 789,945,726 789,142,619 Subscription requests received post valuation 11,400,000 - Redemption requests received post valuation - 27,270,991 Adjusted Net Assets value per Financial Statements 801,345,726 761,871,628

16. Events During the Period On 3 December 2020, Charles Farquharson retired as Non-Executive Director of Insight Global Funds II PLC. On 14 January 2021, Lee Hutson-Pope was appointed as Non-Executive Director of Insight Global Funds II PLC. On 8 February 2021, notice was given to the Shareholders of Insight Sustainable Euro Corporate Bond Fund of an EGM on 12 March 2021, to be held to seek approval of the proposed merger of Insight Sustainable Euro Corporate Bond Fund (the “Merging Fund”) into Responsible Horizons Euro Corporate Bond Fund (the “Receiving Fund”), a sub-fund of BNY Mellon Global Funds, plc. If the proposed merger is approved by the requisite majority of the Shareholders of the Merging Fund, the assets of the Merging Fund will be transferred to the Receiving Fund and all remaining Shareholders of the Merging Fund will be entitled, as of 27 March 2021 (the “Effective Date”), to receive Shares in the corresponding share class of the Receiving Fund. The merger is proposed with the aim of leveraging BNY Mellon’s robust global distribution network which should enhance the ability to grow assets under management (“AUM”). This should benefit Shareholders and generate cost savings for investors of the Merging Fund through the delivering of operational efficiencies and synergies as a result of the increased AUM of the Receiving Fund post the merger. There have been no other events during the period, which are deemed material to these Financial Statements.

17. Events Since the Period End Distributions were paid subsequent to the financial period end as follows:

Pay Date Insight Emerging Markets Debt Fund Class S Sterling Income Shares £27,620 18/06/2021

Insight High Grade ABS Fund Class F Sterling Income Shares £753,019 30/06/2021 Class S Sterling Income Shares £904,476 30/06/2021

Insight Buy and Maintain Bond Fund Class B Sterling Income Shares £6,079,236 18/06/2021 Class S Sterling Income Shares £3,902,935 18/06/2021

Insight Liquid ABS Fund Class B Sterling Income Shares £3,040 30/06/2021 Class B US Dollar Income Shares $283,398 30/06/2021 Class S Sterling Income Shares £105,759 30/06/2021

Insight Short Dated Buy and Maintain Bond Fund Class S Sterling Income Shares £1,200,756 18/06/2021

95 Insight Global Funds II PLC Notes to the Financial Statements (Continued) 17. Events Since the Period End (Continued) There have been no other events subsequent to the period end, which are deemed material to these Financial Statements.

18. Approval of Financial Statements The Directors approved the Financial Statements on 22 July 2021.

96 Insight Global Funds II PLC Directors and Other Information

Directors Michael Boyce (Irish)* John Fitzpatrick (Irish)* Barry McGrath (Irish)* Charles Farquharson (British)** (Retired 3 December 2020) Gregory Brisk (British)** Lee Hutson-Pope (British)** (Appointed 14 January 2021)

*Directors are non-executive and independent of the Investment Manager. **Directors are non-executive.

Manager Independent Auditors Insight Investment Management (Europe) Limited KPMG Chartered Accountants, Statutory Audit Firm Riverside Two 1 Harbourmaster Place Sir John Rogerson’s Quay International Financial Services Centre Dublin 2 Dublin 1 Ireland Ireland

Investment Manager and Distributor Legal Advisers Insight Investment Funds Management Limited Maples & Calder 160 Queen Victoria Street 75 St Stephen’s Green London EC4V 4LA Dublin 2 England Ireland

Sub-Investment Manager Broker Insight Investment Management (Global) Limited Maples & Calder 160 Queen Victoria Street 75 St Stephen’s Green London EC4V 4LA Dublin 2 England Ireland

Administrator Registered Office Northern Trust International Fund Administration Insight Global Funds II plc Services (Ireland) Limited Riverside Two Georges Court Sir John Rogerson’s Quay 54 - 62 Townsend Street Dublin 2 Dublin 2 Ireland Ireland

Depositary Listing Sponsor Northern Trust Fiduciary Services (Ireland) Limited Maples & Calder Georges Court 75 St Stephen’s Green 54 - 62 Townsend Street Dublin 2 Dublin 2 Ireland Ireland

Secretary Insight Investment Management (Europe) Limited Riverside Two Sir John Rogerson’s Quay Dublin 2 Ireland

97 Insight Global Funds II PLC Appendix I

Remuneration Disclosure Insight Investment Funds Management Limited (“IIFML”) act as a delegate and Insight Investment Management (Global) Limited (“IIM(G)L”) act as a sub-delegate for investment management purposes. Further details of delegation can be found in the fund prospectus document. The delegated entities, IIFML and IIM(G)L sit within a consolidated group, BNY Mellon Investment Management Europe Holdings Limited (“IMEH”). Remuneration disclosures are made by IMEH as part of its annual Pillar 3 Disclosure.

This Pillar 3 disclosure relates to BNY Mellon Investment Management Europe Holdings Limited (“IMEH”) – a holding company for BNY Mellon EMEA based investment management firms, and is published in accordance with the requirements of the Financial Conduct Authority (“FCA”) Prudential Sourcebook for Banks, Building Societies and Investment Firms, BIPRU 11 (Pillar 3). Pillar 3 disclosures are made annually in respect of the consolidation group headed by IMEH.

The FCA’s BiPRU Remuneration Code requires both quantitative and qualitative remuneration disclosures which can be found in the IMEH Pillar 3 report. For information the aggregate remuneration paid to Code Staff under BIPRU in respect of 2019 was £89,446,000. Further details on the remuneration approach for IIFML and IIM(G)L as part of the BNYM IMEH consolidated group, can be found in the Pillar 3 report which is updated annually and can be found here (https://www.bnymellon.com/content/dam/bnymellon/documents/pdf/investor-relations/bny-mellon- investment-management-europe-holdings-limited-pillar-3-disclosure-2020.pdf). This document is updated annually in accordance with regulatory requirements.

As noted in the Pillar 3 disclosure IIFML and IIM(G)L have delegated responsibility from IMEH for remuneration matters. They are responsible for remuneration policy decisions and the approval of year-end compensation awards for respective regulated staff members. A Remuneration Committee is in operation to approve compensation awards to employees.

Efficient Portfolio Management In accordance with Schedule 7 of the Central Bank UCITS Regulations, the revenues arising from efficient portfolio management techniques for the entire reporting period, together with the direct and indirect operational costs and fees incurred, should be disclosed in the financial statements of the UCITS. During the year the Company has not used any instruments or techniques that fall under the category of those deemed to be used for efficient portfolio management (stock lending, repurchase agreements and reverse repurchase agreements), under guidelines issued by the Central Bank of Ireland.

Soft Commissions The Investment Manager is satisfied that there have been no soft commissions during the financial year ended 31 May 2021 (31 May 2020: Nil).

98 Insight Global Funds II PLC Insight Emerging Markets Debt Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021 Quantity Acquisitions Purchased Cost £ Germany (Federal Republic of) 0.00% Bonds 05.05.2021 36,540,000 33,171,670 Germany (Federal Republic of) 0.00% Bonds 25.08.2021 36,540,000 31,670,096 France (Government of) 0.00% Bonds 04.08.2021 35,700,000 30,759,328 France (Government of) 0.00% Bonds 28.07.2021 19,920,000 17,278,428 France (Government of) 0.00% Bonds 19.05.2021 19,000,000 16,800,903 Germany (Federal Republic of) 0.00% Bonds 28.07.2021 17,700,000 15,176,899 France (Government of) 0.00% Bonds 05.05.2021 17,200,000 14,783,345 France (Government of) 0.00% Bonds 28.04.2021 16,750,000 14,566,228 France (Government of) 0.00% Bonds 12.05.2021 16,700,000 14,480,128 France (Government of) 0.00% Bonds 09.06.2021 16,440,000 14,114,551 US Treasury Bills 0.00% Bonds 15.07.2021 19,500,000 13,740,618 Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 17,369,322 12,799,678 Mexican Bonos 5.75% Bonds 05.03.2026 242,128,000 8,700,696 Secretaria Tesouro Nacional 10.00% Bonds 01.01.2025 4,900,000 7,419,993 Russian Federation (Ministry of Finance) 7.75% Bonds 16.09.2026 594,000,000 5,803,773 Egypt (Arab Republic of) 0.00% Bonds 31.08.2021 134,300,000 5,732,458 Egypt (Arab Republic of) 0.00% Bonds 01.03.2022 136,000,000 5,467,441 Russian Federation (Ministry of Finance) 6.10% Bonds 18.07.2035 484,000,000 4,332,701 Egypt (Arab Republic of) 0.00% Bonds 18.01.2022 84,500,000 3,477,679 Hungary (Republic of) 4.00% Bonds 28.04.2051 1,225,000,000 3,078,883

99 Insight Global Funds II PLC Insight Emerging Markets Debt Fund (Continued) PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds £ Germany (Federal Republic of) 0.00% Bonds 09.12.2020 36,540,000 32,948,048 Germany (Federal Republic of) 0.00% Bonds 05.05.2020 36,540,000 31,534,466 France (Government of) 0.00% Bonds 03.02.2021 19,000,000 16,764,502 France (Government of) 0.00% Bonds 19.05.2021 19,000,000 16,380,771 Germany (Federal Republic of) 0.00% Bonds 03.03.2021 18,500,000 15,994,750 France (Government of) 0.00% Bonds 05.05.2021 17,200,000 14,843,810 France (Government of) 0.00% Bonds 28.04.2021 16,750,000 14,567,593 France (Government of) 0.00% Bonds 12.05.2021 16,700,000 14,345,086 France (Government of) 0.00% Bonds 10.03.2021 16,440,000 14,073,559 Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 17,415,000 12,898,164 Egypt (Arab Republic of) 0.00% Bonds 16.02.2021 240,000,000 11,047,934 Colombia (Republic of) 4.38% Bonds 12.07.2021 13,400,000 9,748,280 Secretaria Tesouro Nacional 10.00% Bonds 01.01.2025 5,800,000 8,316,865 China (People's Republic of) 3.85% Bonds 01.02.2028 67,000,000 7,845,189 Mexican Bonos 5.75% Bonds 05.03.2026 217,284,200 7,601,186 Mexican Bonos 7.75% Bonds 29.05.2031 182,210,000 7,518,073 Colombia (Republic of) 7.25% Bonds 26.10.2050 29,900,000,000 6,596,540 Egypt (Arab Republic of) 0.00% Bonds 12.01.2021 136,000,000 6,273,598 Malaysia (Government of) 2.63% Bonds 15.04.2031 32,160,000 5,384,262 Mexican Bonos 8.50% Bonds 31.05.2029 107,290,000 4,666,697 Russian Federation (Ministry of Finance) 7.15% Bonds 12.11.2025 420,000,000 4,260,221 Russian Federation (Ministry of Finance) 6.10% Bonds 18.07.2035 484,000,000 4,128,023 Malaysia (Government of) 3.76% Bonds 22.05.2040 22,600,000 4,022,670 Saudi Arabia (Kingdom of) 3.63% Bonds 04.03.2028 4,800,000 3,843,969 Mexican Bonos 4.13% Bonds 21.01.2026 4,600,000 3,778,896 Indonesia (Republic of) 7.00% Bonds 15.05.2027 71,500,000,000 3,735,735 Qatar (State of) 3.88% Bonds 23.04.2023 4,800,000 3,692,971 Romania (Government of) 3.50% Bonds 19.12.2022 20,000,000 3,562,960 Russian Federation (Ministry of Finance) 7.95% Bonds 07.10.2026 323,000,000 3,456,677 Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

100 Insight Global Funds II PLC Insight Global (ex-UK) Bond Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021 Quantity Acquisitions Purchased Cost £ Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 27,722,305 20,083,660 US Treasury Bills 1.13% Bonds 29.02.2028 5,200,000 3,707,637 Italy (Republic of) 0.50% Bonds 01.02.2026 3,740,000 3,483,673 Japan (Government of) 0.10% Bonds 20.12.2030 490,000,000 3,371,832 Italy (Republic of) 0.35% Bonds 01.02.2025 3,750,000 3,320,382 US Treasury Bills 0.38% Bonds 15.04.2024 4,300,000 3,121,117 US Treasury Bills 1.13% Bonds 15.05.2040 5,000,000 3,020,136 Germany (Federal Republic of) 0.00% Bonds 10.10.2025 3,000,000 2,770,359 Insight Liquidity Funds PLC - EUR Cash Fund - Share Class 2 2,917,488 2,535,821 New Zealand (Government of) 2.75% Bonds 15.04.2025 3,960,000 2,251,923 Italy (Republic of) 0.25% Bonds 15.03.2028 2,040,000 1,805,379 France (Government of) 0.00% Bonds 25.11.2029 1,761,612 1,534,790 US Treasury Bills 0.63% Bonds 15.08.2030 2,230,000 1,529,473 US Treasury Bills 2.75% Bonds 15.02.2028 1,600,000 1,238,151 US Treasury Bills 0.38% Bonds 31.01.2026 1,510,000 1,072,325 Greece (Republic of) 0.75% Bonds 18.06.2031 1,200,000 1,055,791 Italy (Republic of) 1.80% Bonds 01.03.2041 1,050,000 993,869 China (People's Republic of) 3.39% Bonds 16.03.2050 7,000,000 737,741 Germany (Federal Republic of) 0.00% Bonds 15.02.2030 670,000 637,261 Italy (Republic of) 0.00% Bonds 15.01.2024 710,000 618,468

PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds £ Insight Liquidity Funds PLC - USD Liquidity Fund - Share Class 2 23,275,757 16,926,343 China (People's Republic of) 3.13% Bonds 21.11.2029 31,000,000 3,422,903 Italy (Republic of) 1.85% Bonds 01.07.2025 3,117,000 3,021,706 US Treasury Bills 1.13% Bonds 29.02.2028 4,200,000 3,014,845 Germany (Federal Republic of) 0.00% Bonds 10.10.2025 3,000,000 2,726,648 Japan (Government of) 2.10% Bonds 20.03.2030 314,500,000 2,612,149 Insight Liquidity Funds PLC - EUR Cash Fund - Share Class 2 2,917,488 2,536,266 Italy (Republic of) 2.45% Bonds 01.09.2033 2,100,000 2,293,532 New Zealand (Government of) 2.75% Bonds 15.04.2025 3,960,000 2,219,099 Australia (Commonwealth of) 3.00% Bonds 21.03.2047 3,530,000 2,156,741 US Treasury Bills 0.25% Bonds 30.06.2025 3,030,000 2,145,299 Indonesia (Republic of) 7.00% Bonds 15.05.2027 23,900,000,000 1,323,051 US Treasury Bills 1.13% Bonds 15.05.2040 2,230,000 1,297,524 Italy (Republic of) 1.80% Bonds 01.03.2041 1,180,000 1,183,716 Greece (Republic of) 0.75% Bonds 18.06.2031 1,200,000 1,030,871 Germany (Federal Republic of) 0.00% Bonds 15.02.2030 1,040,000 935,124 Italy (Republic of) 0.30% Bonds 15.08.2023 951,000 858,273 Japan (Government of) 0.40% Bonds 20.03.2050 119,800,000 746,778 China (People's Republic of) 3.39% Bonds 16.03.2050 7,000,000 738,544 International Business Machines 3.00% Bonds 15.05.2024 800,000 618,809 Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

101 Insight Global Funds II PLC Insight High Grade ABS Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021 Quantity Acquisitions Purchased Cost £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 121,073,617 121,074,393 Ripon Mortgages '1X A2' 1.60% MBS 20.08.2056 28,474,469 28,514,308 Invesco Euro CLO I 1.25% ABS 15.07.2031 30,000,000 26,283,885 Dryden 27 Euro CLO 2017 1.45% ABS 15.04.2033 28,500,000 24,524,615 Ripon Mortgages '1X A1' 0.87% MBS 20.08.2056 22,738,605 22,791,543 Finsbury Square 2019-2 A 1.09% MBS 16.12.2069 20,786,151 20,891,528 Jubilee CLO 2013-X 1.70% ABS 20.05.2034 24,110,000 20,807,224 Woodmont 2017-2 Trust 0.00% ABS 20.04.2033 28,000,000 20,380,682 RRE 1 Loan Management DAC 1.35% FRN 15.04.2035 23,636,000 20,342,802 Together 1.45% ABS 20.03.2053 20,000,000 19,935,400 Cairn CLO IV '4X BRER' 1.35% ABS 30.04.2031 22,750,000 19,659,932 TPG Real Estate Finance Issuer 1.50% ABS 15.03.2038 25,000,000 18,198,360 BlackRock Rainier CLO VI 1.89% ABS 20.04.2033 25,000,000 18,193,063 Newhaven CLO DAC 1.70% FRN 15.02.2034 21,050,000 18,054,054 Shamrock Residential 2021-1 DAC 0.29% MBS 24.12.2059 20,045,000 17,641,380 Sculptor European CLO II DAC 1.70% FRN 15.04.2034 19,000,000 16,415,788 Hayfin Emerald CLO II DAC 1.70% ABS 27.05.2034 17,441,000 15,100,577 Precise Mortgage Funding 2019-1B 1.25% MBS 12.12.2055 14,800,000 14,932,608 CVC Cordatus Loan Fund IV DAC 1.30% ABS 22.02.2034 16,650,000 14,603,064 Antares Class B CLO 2.19% ABS 20.04.2033 20,000,000 14,320,492 OFSI BSL CLO '1A B' 1.68% ABS 16.08.2029 20,000,000 14,281,122 Griffith Park CLO DAC 1.60% ABS 21.11.2031 16,500,000 14,202,359 Palmer Square European CLO 2021-1 BE 1.35% FRN 15.04.2034 15,000,000 13,154,131 Primrose Residential 2021-1B 0.79% FRN 24.03.2061 15,182,000 13,042,049 Taurus 2021-3 DEU 1.20% MBS 22.12.2030 14,993,000 12,912,727 NXT Capital CLO 2017-1 0.00% ABS 20.07.2033 18,000,000 12,903,687 Elm Park CLO DAC 1.63% Bonds 15.04.2034 15,000,000 12,835,309 RRE 6 Loan Management DAC 1.40% FRN 15.04.2035 14,400,000 12,808,012 BNP Paribas Asset Management 1.25% FRN 15.04.2031 14,675,000 12,696,606 Harvest CLO XVI 1.30% ABS 15.10.2031 14,250,000 12,467,593 Arbour CLO IV DAC 1.30% ABS 15.04.2034 14,000,000 12,124,390 Sculptor European CLO I DAC 1.60% FRN 18.04.2034 14,000,000 12,050,486 Hops Hill No.1 1.00% MBS 27.05.2054 11,826,000 11,826,000 Euro-Galaxy VII CLO 1.65% ABS 25.07.2035 13,458,000 11,627,562 PCL Funding V 0.80% ABS 15.10.2025 11,190,000 11,190,000 Berg Finance Series 2021-1 Class A 1.05% FRN 22.07.2033 12,766,000 10,996,616 CVC Cordatus Loan Fund VII DAC 1.25% ABS 15.09.2031 12,500,000 10,758,378 GLG Euro CLO Series 3X Class III 1.50% ABS 15.10.2030 11,500,000 10,134,802 AlbaCore Euro CLO II DAC 1.65% ABS 15.06.2034 11,600,000 9,867,488

102 Insight Global Funds II PLC Insight High Grade ABS Fund (Continued) PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 84,050,000 84,050,000 Silverstone Master Issuer 0.53% MBS 21.01.2070 45,455,000 45,652,729 Income Contingent Student Loan 1.32% ABS 24.07.2058 28,263,706 28,284,904 Trinity Square 2015-1 1.45% MBS 15.07.2051 24,500,000 24,500,000 European Residential Loan Securitisation 0.45% MBS 15.06.2058 26,923,000 23,313,026 Income Contingent Student Loan 1.32% ABS 24.07.2056 20,763,518 20,779,091 Barings Euro CLO 2017-1 2.15% ABS 15.10.2030 20,400,000 17,463,540 Carlyle GMS Euro CLO 2014-3 DAC 0.73% ABS 25.01.2032 20,000,000 17,371,964 Penta CLO 5 2.00% MBS 20.10.2032 20,000,000 17,369,359 Harvest CLO XVI 2.80% ABS 15.10.2031 20,000,000 17,214,980 OZLME II DAC 2.20% ABS 15.10.2030 19,000,000 16,509,496 Dryden 59 Euro CLO 2017 0.75% ABS 15.05.2032 17,000,000 14,773,552 Antares Class B CLO 2.62% ABS 20.07.2028 20,000,000 14,361,110 Woodmont 2017-2 Trust 2.57% ABS 18.07.2028 20,000,000 14,146,772 CVC Cordatus Loan Fund VII DAC 1.75% ABS 15.09.2031 15,390,000 13,211,440 Paragon Mortgages No.13 1.40% MBS 15.01.2039 13,193,541 13,193,541 Avoca CLO XIII DAC '13X B' 1.48% ABS 15.10.2030 15,000,000 13,028,835 Oak Hill European Credit Partners IV '4X A1R' 0.73% ABS 20.01.2032 15,000,000 12,966,788 Hayfin Emerald 1.78% ABS 06.09.2031 15,000,000 12,848,953 Azure Finance No.1 '1 B' 1.59% ABS 30.06.2027 12,675,582 12,675,582 BNPP AM Euro CLO 2018 1.70% ABS 15.04.2031 13,675,000 11,782,667 Hayfin Emerald 1.45% ABS 15.02.2033 12,500,000 10,880,391 Paragon Mortgages No.15 0.06% MBS 15.12.2039 12,000,000 10,853,147 Dartry Park CLO 1.87% ABS 28.04.2029 12,000,000 10,280,040 Tower Bridge Funding No.1 1.06% MBS 20.03.2056 10,089,075 10,089,075 Helios No.37 A 1.55% MBS 02.05.2030 11,105,180 9,991,886 Invesco Euro CLO I 1.25% ABS 15.07.2031 11,450,000 9,865,561 Pepper I-Prime 2017-2 Trust 2.02% MBS 13.12.2048 17,547,265 9,823,996 Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

103 Insight Global Funds II PLC Insight Enhanced Buy and Maintain Bond Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021 Quantity Acquisitions Purchased Cost £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 6,390,188 6,390,188 Ineos Quattro Finance 2.50% Bonds 15.01.2026 2,100,000 1,868,312 OP Corporate Bank 2.50% Bonds 18.02.2049 1,578,000 1,596,762 Taurus 2021-3 DEU 1.20% MBS 22.12.2030 1,574,000 1,355,608 European Residential Loan Securitisation 0.95% MBS 24.03.2063 1,550,869 1,328,029 Metropolitan Life Global Funding I 0.63% Bonds 08.12.2027 1,240,000 1,238,326 JP Morgan 1.90% FRN 28.04.2033 1,073,000 1,073,000 Time Warner Cable 5.25% Bonds 15.07.2042 710,000 921,067 Embotelladora Andina 5.00% Bonds 01.10.2023 1,000,000 793,921 Domino's Pizza Master Issuer 2.66% ABS 25.04.2051 1,050,000 764,749 First Abu Dhabi Bank 0.88% Bonds 09.12.2025 600,000 596,328 UK Municipal Bonds Agency Finance Company 1.63% Bonds 26.08.2060 570,000 547,702 Green Storm 0.20% MBS 22.02.2068 600,000 530,830 Telereal Securitisation 1.37% Bonds 10.12.2031 182,000 182,000 Channel Link Enterprises Finance 3.04% FRN 30.06.2050 150,000 151,125 Silverback Finance 3.13% Bonds 25.02.2037 76,081 66,029

PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 7,070,000 7,070,000 United Kingdom (Government of) 1.50% Bonds 22.07.2047 1,600,000 1,700,853 European Residential Loan Securitisation 0.95% MBS 24.03.2063 1,550,869 1,342,932 United Kingdom (Government of) 3.25% Bonds 22.01.2044 830,000 1,262,223 Telereal Securitisation 1.96% MBS 10.12.2033 700,000 721,805 VMED O2 UK Financing I 4.00% Bonds 31.01.2029 580,000 580,870 Dwr Cymru Financing 6.02% ABS 31.03.2028 390,000 511,528 Motability Operations Group 3.67% Bonds 31.03.2036 351,000 430,659 United Kingdom (Government of) 4.25% Bonds 07.12.2040 270,000 423,706 Quadgas Finance 3.38% Bonds 17.09.2029 388,000 411,028 London Power Networks 2.63% Bonds 01.03.2029 378,000 407,034 Logicor Financing 1.88% MBS 17.11.2026 330,000 343,669 New York Life Global Funding 1.25% Bonds 17.12.2026 275,000 283,228 Eurogrid GmbH 1.11% Bonds 15.05.2032 300,000 282,458 HSBC Bank Capital Funding 5.84% Bonds 31.12.2049 190,000 269,800 HBOS Treasury Services 4.88% Bonds 20.12.2024 230,000 266,795 Berkshire Hathaway 2.38% Bonds 19.06.2039 221,000 247,390 Hiscox 2.00% Bonds 14.12.2022 219,000 223,089 Scottish Hydro Electric Transmission 2.25% Bonds 27.09.2035 200,000 200,986 E.ON International Finance 6.75% Bonds 27.01.2039 100,000 161,099 Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

104 Insight Global Funds II PLC Insight Buy and Maintain Bond Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021 Quantity Acquisitions Purchased Cost £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 228,377,179 228,377,177 United Kingdom (Government of) 0.63% Bonds 07.06.2025 30,000,000 30,701,100 Berg Finance Series 2021-1 Class A 1.05% Bonds 22.07.2033 28,596,000 24,632,557 Taurus 2021-3 DEU 1.20% Bonds 22.12.2030 26,087,000 22,467,438 University College London 1.63% Bonds 04.06.2061 22,331,000 21,649,905 United Kingdom (Government of) 0.75% Bonds 22.07.2023 20,000,000 20,364,200 JP Morgan 1.90% Bonds 28.04.2033 19,699,000 19,699,000 Metropolitan Life Global Funding I 0.63% Bonds 08.12.2027 17,640,000 17,616,186 United Kingdom (Government of) 4.50% Bonds 07.12.2042 10,000,000 16,879,500 ING Groep 1.13% Bonds 07.12.2028 15,400,000 15,276,800 Domino's Pizza Master Issuer 2.66% Bonds 25.04.2051 18,932,000 13,788,783 Northwestern Mutual Global Funding 0.60% Bonds 25.03.2024 16,049,000 11,492,368 Southern Water Services 5.00% Bonds 31.03.2021 10,239,000 10,263,881 Toyota Motor Credit 1.00% Bonds 27.09.2022 9,931,000 10,022,167 GlaxoSmithKline Capital 5.25% Bonds 10.04.2042 6,105,000 9,636,804 Green Storm 0.20% Bonds 22.02.2068 10,300,000 9,112,580 European Residential Loan Securitisation 0.95% Bonds 24.03.2063 10,561,129 9,043,629 Citigroup 8.13% Bonds 15.07.2039 6,058,000 7,718,240 Berg Finance Series 2021-1 Class B 0.00% Bonds 22.07.2026 8,797,000 7,577,724 American Honda Finance 1.80% Bonds 13.01.2031 10,000,000 6,963,589 Telereal Securitisation 1.37% 10.12.2031 6,920,000 6,922,644 Deutsche Telekom International Finance 3.13% Bonds 06.02.2034 5,600,000 6,455,792 Comcast 1.88% Bonds 20.02.2036 6,391,000 6,455,002 OP Corporate Bank 2.50% Bonds 18.02.2049 6,310,000 6,366,460

PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 258,835,000 258,835,000 Exxon Mobil 3.45% Bonds 15.04.2051 19,752,000 14,723,070 Southern Water Services 5.00% Bonds 31.03.2021 11,395,000 11,395,000 SGSP Australia Assets 5.13% Bonds 11.02.2021 9,055,000 9,055,000 European Residential Loan Securitisation 0.95% Bonds 24.03.2063 10,387,279 8,994,572 Exxon Mobil 2.61% Bonds 15.10.2030 11,396,000 8,853,187 Citigroup 7.38% Bonds 01.09.2039 3,967,000 7,531,230 Domino's Pizza Master Issuer 3.08% Bonds 25.07.2047 8,636,880 6,200,646 Assicurazioni Generali 5.50% Bonds 27.10.2047 5,835,000 6,122,963 Virginia Electric & Power 6.00% Bonds 15.05.2037 5,963,000 5,820,521 Total Capital 2.25% Bonds 17.12.2020 5,025,000 5,025,000 Vodafone 3% Bonds 12.08.2056 4,100,000 4,323,901 Barclays Bank 10.00% Bonds 21.05.2021 3,636,000 3,636,000 RL Finance Bonds No.4 4.88% Bonds 07.10.2049 2,770,000 3,063,716 Toyota Motor Credit 1.90% Bonds 08.04.2021 4,057,000 2,954,843 Virginia Electric & Power 3.45% Bonds 01.09.2022 3,869,000 2,903,013 Toyota Motor Credit 2.95% Bonds 13.04.2021 3,830,000 2,784,240 Annington Funding 3.94% Bonds 12.07.2047 2,151,000 2,638,041 Eversholt Funding 5.83% Bonds 02.12.2020 2,544,000 2,544,000 HSBC Holdings 6.50% Bonds 20.05.2024 2,091,000 2,447,244

Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

105 Insight Global Funds II PLC Insight Total Return Bond Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021

There were no acquisitions during the period ended 31 May 2021.

PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds € European Residential Loan Securitisation 'NPL1 A' 1.46% MBS 24.07.2054 - 3,365

Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

106 Insight Global Funds II PLC Insight Sustainable Euro Corporate Bond Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021 Quantity Acquisitions Purchased Cost € Goldman Sachs 0.25% Bonds 26.01.2028 5,173,000 5,142,997 Societe Generale 0.13% Bonds 18.02.2028 5,000,000 4,973,250 BPCE 0.25% Bonds 14.01.2031 4,700,000 4,659,053 Sydney Airport Finance 1.75% Bonds 26.04.2028 4,255,000 4,639,166 Total SA 1.63% FRN 31.12.2049 4,383,000 4,383,000 Morgan Stanley 0.50% FRN 07.02.2031 4,326,000 4,326,000 Grand City Properties 0.13% Bonds 11.01.2028 3,900,000 3,827,967 Commonwealth Bank of Australia 3.31% Bonds 11.03.2041 4,491,000 3,714,640 CaixaBank 1.25% FRN 18.06.2031 3,400,000 3,385,482 UBS Funding Switzerland 0.63% Bonds 24.02.2033 3,416,000 3,370,670 ENEL Finance International 1.88% FRN 31.12.2049 3,306,000 3,270,692 Nestle Holdings 0.88% Bonds 18.07.2025 3,000,000 3,141,990 Intesa Sanpaolo 0.75% Bonds 16.03.2028 3,075,000 3,073,524 CaixaBank 0.38% Bonds 03.02.2025 3,000,000 3,041,206 JP Morgan 0.60% FRN 17.02.2033 3,005,000 3,006,923 Iliad 1.88% Bonds 11.02.2028 2,900,000 2,895,302 Veolia Environnement 2.25% FRN 31.12.2049 2,800,000 2,851,600 BNP Paribas 0.50% FRN 19.01.2030 2,800,000 2,790,816 Logicor Financing 0.88% Bonds 14.01.2031 2,809,000 2,778,129 Groupe Bruxelles Lambert 0.13% Bonds 28.01.2031 2,800,000 2,770,432 Intesa Sanpaolo 2.38% Bonds 22.12.2030 2,515,000 2,527,122 Tesco Corporate Treasury 0.38% Bonds 27.07.2029 2,496,000 2,479,402 Iberdrola International 1.45% FRN 31.12.2049 2,400,000 2,400,000 American Tower 0.50% Bonds 15.01.2028 2,360,000 2,371,703 Telefonica Europe 2.38% FRN 31.12.2049 2,400,000 2,364,140 Lancashire Holdings 5.63% FRN 18.09.2041 2,833,000 2,362,901 AT&T 1.80% Bonds 14.09.2039 2,250,000 2,362,148 LeasePlan 0.25% Bonds 23.02.2026 2,323,000 2,314,033 Simon International Finance 1.13% Bonds 19.03.2033 2,307,000 2,307,000 Deutsche Bank 1.38% FRN 17.02.2032 2,300,000 2,296,366 Banque Federative du Credit Mutuel 0.13% Bonds 05.02.2024 2,200,000 2,226,474 Thermo Fisher Scientific 2.38% Bonds 15.04.2032 1,840,000 2,209,241 Ardagh Metal Packaging 2.00% Bonds 01.09.2028 2,140,000 2,140,000 Verizon Communications 3.55% Bonds 22.03.2051 2,553,000 2,110,305 Danaher 1.13% Bonds 14.01.2025 2,000,000 2,098,778 ALD 0.00% Bonds 23.02.2024 2,100,000 2,097,102 Achmea Bank 6.00% FRN 04.04.2043 1,783,000 1,997,602 Banco Santander 0.20% Bonds 11.02.2028 2,000,000 1,997,080 CaixaBank 3.38% FRN 15.03.2027 1,900,000 1,956,450

107 Insight Global Funds II PLC Insight Sustainable Euro Corporate Bond Fund (Continued) PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds € Credit Agricole 0.50% Bonds 24.06.2024 4,500,000 4,593,105 Yorkshire Building Society 0.63% Bonds 21.09.2025 3,548,000 3,638,131 Goldman Sachs 1.25% Bonds 01.05.2025 3,469,000 3,609,044 Merck Financial Services 0.88% Bonds 05.07.2031 3,200,000 3,456,800 Bank of America 0.65% FRN 26.10.2031 2,967,000 3,044,744 AT&T 3.15% Bonds 04.09.2036 2,087,000 2,627,748 BNP Paribas 0.75% Bonds 11.11.2022 2,490,000 2,542,813 Nationwide Building Society 0.25% Bonds 22.07.2025 2,450,000 2,488,967 BMW Finance 0.63% Bonds 06.10.2023 2,370,000 2,425,861 Belfius Bank 0.75% Bonds 12.09.2022 2,200,000 2,239,028 Daimler 2.63% Bonds 07.04.2025 1,900,000 2,115,156 TenneT Holding 2.37% FRN 31.12.2049 1,981,000 2,065,193 Goldman Sachs 2.13% Bonds 30.09.2024 1,890,000 2,040,234 Morgan Stanley 0.50% FRN 26.10.2029 2,000,000 2,024,880 Caixabank 2.25% FRN 17.04.2030 1,900,000 1,995,410 Muenchener Rueckversicherungs-Gesellschaftin Muenchen 1.25% FRN 1,900,000 1,942,670 26.05.2041 RCI Banque 1.13% Bonds 15.01.2027 1,869,000 1,927,566 Cellnex Telecom 1.75% Bonds 23.10.2030 1,900,000 1,913,542 Scentre Trust 4.75% Bonds 24.09.2080 2,200,000 1,903,909 Takeda Pharmaceutical Company 1.38% Bonds 09.07.2032 1,600,000 1,726,160 Logicor Financing 1.63% Bonds 15.07.2027 1,600,000 1,706,016 HSBC Holdings 3.00% Bonds 22.07.2028 1,250,000 1,536,615 Electricite de France 2.00% Bonds 09.12.2049 1,300,000 1,521,761 Verizon Communications 2.88% Bonds 15.01.2038 1,149,000 1,506,454 Allianz Finance II 3.50% FRN 31.12.2049 1,800,000 1,506,376 ZF Finance GmbH 3.00% Bonds 21.09.2025 1,400,000 1,471,660 Apple 0.50% Bonds 15.11.2031 1,307,000 1,373,317 BMW Finance 0.50% Bonds 22.11.2022 1,350,000 1,371,384 DH Europe Finance II 1.35% Bonds 18.09.2039 1,271,000 1,369,542 Iberdrola International 2.25% FRN 31.12.2049 1,300,000 1,362,400 DH Europe Finance II 0.75% Bonds 18.09.2031 1,288,000 1,333,415 EssilorLuxottica 0.13% Bonds 27.05.2025 1,200,000 1,219,320 Akelius Residential Property 1.75% Bonds 07.02.2025 1,128,000 1,194,890 Nestle Finance International 0.38% Bonds 03.12.2040 1,174,000 1,188,969 Sanofi 1.50% Bonds 01.04.2030 1,000,000 1,146,530 Thermo Fisher Scientific 1.50% Bonds 01.10.2039 1,000,000 1,105,030 Heathrow Funding 1.88% Bonds 14.03.2034 1,000,000 1,094,470 Veolia Environnement 1.25% Bonds 15.04.2028 1,000,000 1,087,000 Goldman Sachs 0.25% Bonds 26.01.2028 1,100,000 1,084,226 Innogy Finance 6.50% Bonds 10.08.2021 1,000,000 1,046,510 Skandinaviska Enskilda Banken 0.50% Bonds 13.03.2023 1,008,000 1,027,686 British Telecommunications 1.75% Bonds 10.03.2026 864,000 942,028 Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

108 Insight Global Funds II PLC Insight Liquid ABS Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021 Quantity Acquisitions Purchased Cost £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 183,881,756 183,882,512 Ripon Mortgages '1X A2' 0.88% MBS 20.08.2056 46,940,589 47,009,766 Primrose Residential 2021-1A 0.19% FRN 24.03.2061 52,082,000 44,557,440 Twin Bridges 2021-1 0.90% MBS 12.03.2055 31,091,000 31,126,932 Hawksmoor Mortgage Funding 2019-1 'A' 1.10% MBS 25.05.2053 29,594,549 29,702,569 Malt Hill No.2 '2 A' 0.82% Bonds 27.11.2055 27,952,828 28,030,643 AFG Series 2021-1 0.76% MBS 10.10.2052 50,000,000 27,846,872 Gosforth Funding 2018-1 0.66% MBS 25.08.2060 25,306,363 26,513,968 Gosforth Funding 2017-1 0.59% ABS 19.12.2059 26,000,000 26,083,200 Tower Bridge Funding 2021-1 0.95% MBS 21.07.2064 23,889,000 23,924,000 Contego CLO IV 0.64% ABS 23.01.2030 25,000,000 22,142,648 TPG Real Estate Finance Issuer 0.00% ABS 15.03.2038 28,929,000 21,058,414 Paragon Mortgages No.26 1.10% MBS 15.05.2045 20,553,462 20,722,000 Together 1.45% ABS 20.03.2053 20,000,000 19,935,400 OZLME II DAC 0.90% ABS 15.10.2030 22,268,000 19,750,514 Taurus 2021-3 DEU 1.20% MBS 22.12.2030 22,489,000 19,368,659 Dowson 2021-1 0.90% ABS 20.03.2028 19,267,000 19,281,000 Ripon Mortgages '1X B1' 1.28% MBS 20.08.2056 18,300,000 18,329,280 Grand Harbour CLO 2019-1 1.20% ABS 15.03.2032 20,000,000 17,474,396 Finsbury Square 2019-1 A 1.05% MBS 16.06.2069 17,041,079 17,087,144 Ripon Mortgages '1X A1' 0.88% MBS 20.08.2056 16,993,603 17,020,414 E-Carat 12 0.00% ABS 18.08.2029 17,000,000 17,000,000 Lanterna 0.00% ABS 28.10.2065 17,984,797 15,763,983 Precise Mortgage Funding 2019-1B 1.25% MBS 12.12.2055 14,800,000 14,932,608 Pepper Residential Securities Trust No.29 0.84% ABS 14.10.2062 26,000,000 14,528,341 Last Mile Securities 0.90% MBS 17.08.2031 15,625,000 13,370,114 Domi 2021-1 0.00% MBS 15.06.2053 15,400,000 13,271,091 Providus CLO IV DAC 1.45% ABS 20.07.2031 14,500,000 13,201,097 Newday Funding 2021-1 '1X A1' 1.02% ABS 15.03.2029 12,666,000 12,666,000 La Trobe Financial Capital Markets Trust 2021-1 0.84% MBS 13.09.2052 22,000,000 12,213,247

109 Insight Global Funds II PLC Insight Liquid ABS Fund (Continued) PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 238,825,000 238,825,000 Pepper I-Prime 2020-1 Trust 0.91% MBS 18.03.2052 65,317,402 36,578,713 Gosforth Funding 2018-1 0.66% MBS 25.08.2060 28,993,225 30,242,036 Malt Hill No.2 '2 A' 0.82% Bonds 27.11.2055 27,952,828 27,952,828 Pepper Residential Securities Trust No.27 0.96% MBS 13.06.2062 46,475,491 26,201,897 Trinity Square 2015-1 1.23% MBS 15.07.2051 25,950,000 25,950,000 Resimac Bastille Trust 0.96% MBS 05.12.2051 41,952,144 23,594,653 E-Carat 11 0.63% ABS 18.05.2028 22,474,833 22,530,410 Permanent Master Issuer 2019-1 0.46% MBS 15.07.2058 21,880,000 21,880,000 OZLME II DAC 0.90% ABS 15.10.2030 24,565,000 21,345,041 Finsbury Square 2019-1 A 1.05% MBS 16.06.2069 20,595,976 20,642,959 Lanterna 0.00% ABS 28.10.2065 21,469,068 18,818,987 Trinity Square 2015-1 1.18% MBS 15.07.2051 18,138,000 18,154,385 La Trobe Financial Capital Markets Trust 2020-1 1.01% MBS 13.01.2052 31,755,241 17,839,554 Dowson 2020-1 1.55% ABS 20.04.2027 16,394,859 16,470,546 Silverstone Master Issuer 0.76% ABS 21.01.2070 22,213,440 16,039,526 European Residential Loan Securitisation 0.95% MBS 24.03.2063 18,144,259 15,722,098 AFG Series 2020-1 0.91% MBS 10.04.2052 27,880,472 15,642,102 PCL Funding III 0.70% ABS 15.06.2023 15,606,000 15,615,364 Friary No.3 0.90% MBS 21.04.2048 15,568,211 15,568,212 Durham Mortgages A 1.05% MBS 31.03.2053 15,537,000 15,539,051 Finsbury Square 2018-2 A 1.03% MBS 12.09.2068 14,538,393 14,538,393 Newday Partnership Funding 2015-1 '1 A' 1.85% ABS 15.04.2025 14,335,000 14,358,366 Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

110 Insight Global Funds II PLC Insight Short Dated Buy and Maintain Bond Fund PORTFOLIO CHANGES - ACQUISITIONS

Schedule of material changes in investments for the six months ended 31 May 2021 Quantity Acquisitions Purchased Cost £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 133,269,619 133,269,619 United Kingdom (Government of) 0.13% Bonds 31.01.2024 27,000,000 26,980,830 United Kingdom (Government of) 0.75% Bonds 22.07.2023 21,520,000 21,894,496 United Kingdom (Government of) 1.00% Bonds 22.04.2024 15,475,000 15,974,976 Ineos Quattro Finance 2.50% Bonds 15.04.2026 14,670,000 13,013,437 Nationwide Building Society 0.55% Bonds 22.01.2024 17,500,000 12,771,343 JP Morgan 0.99% FRN 28.04.2026 11,500,000 11,500,000 Taurus 2021-3 DEU 1.20% FRN 22.12.2030 11,844,000 10,200,649 Electricite de France 3.63% Bonds 13.10.2025 11,967,000 9,693,141 Comcast 3.10% Bonds 01.04.2025 12,000,000 9,388,400 Anheuser-Busch InBev 4.00% Bonds 24.09.2025 7,190,000 8,256,756 Citigroup 1.75% Bonds 23.10.2026 7,900,000 8,114,011 Deutsche Bahn Finance GmbH 0.38% Bonds 03.12.2026 8,000,000 7,950,160 Berg Finance Series 2021-1 Class A 1.05% FRN 22.07.2033 8,872,000 7,642,329 Green Storm 2021 0.21% FRN 22.02.2068 8,400,000 7,455,409 Metropolitan Life Global Funding I 0.63% Bonds 08.12.2027 7,105,000 7,095,408 Swedbank Hypotek 1.13% Bonds 07.12.2021 7,000,000 7,053,420 United Utilities Water 2.00% Bonds 14.02.2025 6,500,000 6,787,170 Northwestern Mutual Global Funding 0.60% 25.03.2024 8,951,000 6,409,632 Northumbrian Water Finance 1.63% Bonds 11.10.2024 6,000,000 6,304,673 Credit Agricole 4.13% Bonds 10.01.2027 7,000,000 5,922,064 European Residential Loan Securitisation 0.95% FRN 24.03.2063 6,867,769 5,880,958 American Honda Finance 0.75% Bonds 25.11.2026 5,300,000 5,289,969 Unilever 1.13% Bonds 03.02.2022 5,000,000 5,044,200 Siemens Financieringsmaatschappij 0.88% Bonds 05.06.2023 5,000,000 5,036,900 AbbVie 3.60% Bonds 14.05.2025 5,900,000 4,777,270

PORTFOLIO CHANGES - DISPOSALS AND MATURITIES

Schedule of material changes in investments for the six months ended 31 May 2021 Disposals Quantity Sold Proceeds £ Insight Liquidity Funds PLC - GBP Liquidity Fund - Share Class 2 150,117,354 150,117,354 United Kingdom (Government of) 1.00% Bonds 22.04.2024 45,419,122 46,603,841 United Kingdom (Government of) 0.75% Bonds 22.07.2023 25,820,000 26,215,452 Exxon Mobil 2.99% Bonds 19.03.2025 12,730,000 9,999,547 Eastern Power Networks 4.75% 30.09.2021 8,734,000 8,921,781 European Residential Loan Securitisation 0.95% FRN 24.03.2063 6,867,769 5,946,955 Punch Taverns Finance 7.37% Bonds 30.09.2021 4,969,934 4,970,422 Wessex Water Services 4.00% Bonds 24.09.2021 4,816,000 4,930,139 America Movil 3.00% Bonds 12.07.2021 5,250,000 4,508,408 Nestle Holdings 1.75% Bonds 09.12.2020 3,913,000 3,913,000 Durham Mortgages A 1.25% FRN 31.03.2053 3,871,000 3,871,000 International Business Machines 2.75% Bonds 21.12.2020 3,843,000 3,843,000 Dwr Cymru Financing 6.91% Bonds 31.03.2021 3,575,000 3,575,000 Macquarie Bank 3.50% Bonds 18.12.2020 2,256,000 2,256,000 Daimler International Finance 2.75% Bonds 04.12.2020 1,900,000 1,900,000 Tower Bridge Funding No.1 1.06% FRN 20.03.2056 1,265,951 1,265,951 SGSP Australia Assets 5.13% Bonds 11.02.2021 820,000 820,000 Dowson 2019-1 1.35% FRN 20.09.2026 723,304 723,304 Toyota Motor Credit 1.90% Bonds 08.04.2021 875,000 637,291 Toyota Motor Credit 2.95% Bonds 13.04.2021 831,000 604,100 Only the top 20 purchases and sales or those greater than 1% of the total value of purchases and sales have been included in the portfolio movements. Where there were less than 20 purchases and sales, all purchases and sales have been included.

111