<p>The present invention provides a core shell polymer comprising (i) a core comprising a polymer having a Tg in the range of from -15 to 35 °C, which polymer is formed from a monomer mixture comprising at least one conjugated diene monomer and (ii) a shell comprising a polymer having a Tg in the range of from 40 to 180 °C, which polymer is formed from a monomer mixture comprising at least one aromatic vinyl monomer, wherein the gel content of the core polymer is below 62%.</p>
