{"product_id":"amp-pestle-analysis","title":"AMP PESTLE Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eYour Shortcut to Market Insight Starts Here\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eUnlock the external forces shaping AMP with our concise PESTLE Analysis—covering regulatory risks, economic drivers, social trends and technological shifts that affect strategy and valuation. Perfect for investors and strategists, this ready-to-use report saves hours of research. Purchase the full PESTLE now for the complete, editable breakdown and actionable insights.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eolitical factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSuperannuation policy stability\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAMP’s core products depend on Australia’s compulsory super system, which held A$3.6 trillion in assets at June 2024 (APRA), so shifts in contribution rates, tax concessions or access rules can materially redirect flows and demand. Policy continuity enables multi‑year product planning, while sudden reforms raise product and pricing risk. Ongoing bipartisan support has reduced tail risk, but election cycles still drive shorter‑term uncertainty.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory oversight and prudential stance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAPRA and ASIC priorities—shaped by the 2018–19 Royal Commission (76 recommendations in the final report)—drive stricter capital, risk and advice standards for AMP, raising compliance costs while improving market trust if enforced well. Tougher supervision since 2019 increases expenses but can restore investor confidence. Shifts to fee scrutiny and performance testing can shift market share, and prudential signals prompt product closures and M\u0026amp;A.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernment retirement income strategy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eGovernment policy on retirement drawdown, advice accessibility and support for longevity products steers industry innovation; with Australian life expectancy about 83 years (OECD 2023) and superannuation assets around A$3.6 trillion (APRA Jun 2024) firms pivot to income solutions.\u003c\/p\u003e\n\u003cp\u003eIncentives favouring income streams over lump sums reshape product mix—annuities remain a small share of retirement assets, under 2% by industry estimates in 2024.\u003c\/p\u003e\n\u003cp\u003eClear public guidance on adequacy can boost demand for advice, while budget measures and tax changes have the potential to alter after-tax retirement returns overnight.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHousing and banking policy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eMacroprudential rules and first‑home schemes shape mortgage growth and credit quality: first‑home buyers accounted for about 26% of loans in 2023–24, while household debt‑to‑income sat near 190% (RBA Q4 2024). Banking levies and higher capital settings push funding costs up by tens of basis points, with the cash rate at ~4.35% in mid‑2025 tightening margins. Political focus on affordability has already tightened lending standards; competition policy among the big four (≈70% market share) influences mortgage pricing.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMacroprudential: affects volume and quality\u003c\/li\u003e\n\u003cli\u003eFirst‑home schemes: 26% share 2023–24\u003c\/li\u003e\n\u003cli\u003eHousehold DTI: ~190% (RBA Q4 2024)\u003c\/li\u003e\n\u003cli\u003eFunding cost impact: +tens bps; cash rate ~4.35% mid‑2025\u003c\/li\u003e\n\u003cli\u003eBig four market share: ≈70% — margins sensitive to competition\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGeopolitical and trade exposures\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eGlobal tensions shape markets where AMP holds client assets, with sanctions and foreign investment rules forcing shifts in sector and country weightings; 2024 geopolitics including the US and India elections heightened cross-border volatility and client flows. Data localization and foreign ownership limits in APAC and Europe affect operational routing and compliance costs.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSanctions reshape portfolio country exposure\u003c\/li\u003e\n\u003cli\u003eForeign ownership rules alter asset allocation\u003c\/li\u003e\n\u003cli\u003eData localization raises compliance costs\u003c\/li\u003e\n\u003cli\u003e2024 election risk drove spikes in client redemptions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003e\n\u003cstrong\u003eA$3.6tn\u003c\/strong\u003e super system to redirect flows as tighter regulation and rising rates reshape markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAMP's fortunes hinge on Australia's A$3.6 trillion super system (APRA Jun 2024); changes to contributions, tax or access can quickly redirect flows. APRA\/ASIC tightening after the 2018–19 Royal Commission raises compliance costs but can restore trust; prudential moves drive product exits and M\u0026amp;A. Macro measures—cash rate ~4.35% mid‑2025, household DTI ~190% (RBA Q4 2024), first‑home loans ~26%—shape credit demand and margins.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSuper assets\u003c\/td\u003e\n\u003ctd\u003eA$3.6tn (Jun 2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCash rate\u003c\/td\u003e\n\u003ctd\u003e~4.35% (mid‑2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHousehold DTI\u003c\/td\u003e\n\u003ctd\u003e~190% (RBA Q4 2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFirst‑home share\u003c\/td\u003e\n\u003ctd\u003e26% (2023–24)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAnnuities share\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;2% (2024 est.)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eExplores how external macro-environmental factors uniquely affect AMP across Political, Economic, Social, Technological, Environmental, and Legal dimensions, with data-backed trends and sector-specific examples. Designed for executives, investors, and strategists to identify threats, opportunities, and forward-looking scenarios ready for inclusion in plans, decks, or reports.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eCondensed AMP PESTLE highlights external forces impacting AMP—political, economic, regulatory, social, technological and environmental—so teams can quickly align strategy, spot risks, and populate presentations or client reports.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eE\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003economic factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInterest rate cycle (RBA)\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRBA cash rate at 4.35% (July 2025) drives wider deposit spreads and lifts bank net interest income even as higher rates compress mortgage demand and pressure asset valuations; ASX 200 fell 6% in 2024 as rates rose while super balances briefly stagnated. Lower rates support housing and equity prices but squeeze banking margins, and rate uncertainty boosts client demand for advice and cash allocation shifts.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInflation and cost pressures\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInflation erodes real returns and raised AMP clients' expenses as Australian CPI eased from 7.8% in 2022 to about 3.5% by 2024, compressing real yields. Cost-of-living stress pushes demand toward lower-fee products, with wage growth near 3–3.5% lagging headline inflation. Pricing power for discretionary advice is tested as consumer spend falls and fee scrutiny increases, driving more claims on service quality.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEmployment and wage growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuper contributions hinge on payroll growth and participation; with the Super Guarantee at 11.5% in 2024–25, stronger employment boosts compulsory inflows. Australia’s unemployment near 4% (mid‑2025 ABS) and wage growth around 3.5% y\/y lift member balances and create advice opportunities. Labor weakness cuts contributions and raises hardship\/early withdrawal risk, while wage gains can drive voluntary top‑ups when confidence is high.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarket volatility and asset returns\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eEquity and bond swings materially affect AMP’s FUM, fees and client sentiment: MSCI ACWI returned -18.4% in 2022 then +18.6% in 2023, illustrating rapid fee-pool swings and sentiment shifts. Prolonged drawdowns prompt de-risking and outflows, pressuring revenue. Diversification and alternatives can stabilise fee pools; relative performance versus peers drives retention under performance tests.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEquity\/bond volatility → FUM \u0026amp; fees\u003c\/li\u003e\n\u003cli\u003e2022 ACWI -18.4%, 2023 +18.6%\u003c\/li\u003e\n\u003cli\u003eDrawdowns → de-risking\/outflows\u003c\/li\u003e\n\u003cli\u003eDiversification\/alternatives stabilise fees\u003c\/li\u003e\n\u003cli\u003ePeer-relative performance affects retention\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHousing and household leverage\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eHigh household debt (Australia household debt-to-income ~190% in 2024) heightens sensitivity to interest rates and unemployment, amplifying default risk if rates stay elevated. Credit growth slowed to ~2% y\/y in 2024, shaping bank revenue and rising provisioning. A 5–10% recent pullback in property values has cooled investor appetite and refinancing waves have compressed margins while raising acquisition costs.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHousehold debt-to-income ~190% (2024)\u003c\/li\u003e\n\u003cli\u003eCredit growth ~2% y\/y (2024)\u003c\/li\u003e\n\u003cli\u003eProperty price pullback 5–10%\u003c\/li\u003e\n\u003cli\u003eRefinance surge compresses margins\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003e\n\u003cstrong\u003eA$3.6tn\u003c\/strong\u003e super system to redirect flows as tighter regulation and rising rates reshape markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRBA cash rate 4.35% (Jul 2025) lifts bank NII but cools mortgages and asset values. CPI ~3.5% (2024) with wage growth ~3–3.5% squeezes real returns. Super Guarantee 11.5% (2024–25) and unemployment ~4% (mid‑2025) support inflows; household debt-to-income ~190% (2024) heightens rate sensitivity. Equity swings (ACWI -18.4% 2022, +18.6% 2023) drive FUM volatility.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eIndicator\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRBA cash rate\u003c\/td\u003e\n\u003ctd\u003e4.35% (Jul 2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCPI\u003c\/td\u003e\n\u003ctd\u003e~3.5% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnemployment\u003c\/td\u003e\n\u003ctd\u003e~4% (mid‑2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSG\u003c\/td\u003e\n\u003ctd\u003e11.5% (2024–25)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHousehold DTI\u003c\/td\u003e\n\u003ctd\u003e~190% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMSCI ACWI\u003c\/td\u003e\n\u003ctd\u003e-18.4% (2022), +18.6% (2023)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview Before You Purchase\u003c\/span\u003e\u003cbr\u003eAMP PESTLE Analysis\u003c\/h2\u003e\n\u003cp\u003eThe preview shown here is the exact AMP PESTLE Analysis document you’ll receive after purchase—fully formatted and ready to use. It includes the complete political, economic, social, technological, legal and environmental assessment and professional layout. No placeholders; download immediately after checkout.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"PortersFiveForce","offers":[{"title":"Default Title","offer_id":56162396012921,"sku":"amp-pestle-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0914\/5276\/8633\/files\/amp-pestle-analysis.png?v=1762700262","url":"https:\/\/portersfiveforce.com\/products\/amp-pestle-analysis","provider":"Porter's Five Forces","version":"1.0","type":"link"}