https://www.sec.gov/Archives/edgar/data/1413594/000110465922126922/a22-31651_7497.htm abrdn Funds
(the “Trust”)
abrdn Emerging Markets Debt Fund
(the “Fund”)
Supplement dated December 14, 2022 to the Summary Prospectus, Prospectus and
Statement of Additional Information dated February 28, 2022, as supplemented to date
On December 14, 2022, the Board of Trustees (the “Board”) of the Trust approved a Plan of Liquidation for the Fund pursuant to which the Fund will be liquidated (the “Liquidation”) on or about February 16, 2023 (the “Liquidation Date”). Shareholder approval of the Liquidation is not required.
Suspension of Sales. Effective after market close on December 16, 2022, shares of the Fund will no longer be available for purchase by investors with the exception of: (1) existing shareholders (including shares acquired through the reinvestment of dividends and distributions); (2) employer sponsored retirement plans; or (3) fee-based programs sponsored by financial intermediaries that have selected the Fund prior to market close on December 16, 2022. Any applicable contingent deferred sales charges will be waived on redemptions and exchanges out of the Fund following the close of business on December 16, 2022. Effective after market close on January 31, 2023, the Fund will be closed to all investments except shares acquired through the reinvestment of dividends and distributions.
Liquidation of Assets. The Fund will depart from its stated investment objective and policies on or around December 14, 2022 as it liquidates holdings in preparation for the distribution of assets to investors. During this time, the Fund may hold more cash, cash equivalents or other short-term investments than normal, which may prevent the Fund from meeting its stated investment objective. On the Liquidation Date, the Fund will liquidate and distribute pro rata to the shareholders of record as of the close of business on the Liquidation Date such shareholders’ proportionate interest in all of the remaining assets of the Fund in complete cancellation and redemption of all the outstanding shares of the Fund. See “IMPORTANT INFORMATION FOR QUALIFIED ACCOUNT HOLDERS” below if you are a qualified account holder. Contingent deferred sales charges will be waived in connection with any redemptions prior to the Liquidation Date. The Fund’s investment adviser, abrdn Inc., will bear all expenses of the Liquidation to the extent such expenses are not part of the Fund’s normal and customary fees and operating expenses; however, the Fund and its shareholders will bear transaction costs and tax consequences associated with turnover of the Fund’s portfolio in anticipation of the Liquidation.
Alternatives. At any time prior to the Liquidation Date, the Fund’s shareholders may redeem all or a portion of their shares or exchange their Fund shares for shares in the corresponding class of another series of the Trust pursuant to procedures set forth in the Trust’s Prospectus. If you wish to exchange your shares of the Fund into another series of the Trust, or would like to request additional copies of the Prospectus and Statement of Additional Information for the Trust, please call abrdn Funds Shareholder Services at 866-667-9231.
Holders through Financial Intermediaries. If you are invested in the Fund through a financial intermediary, please contact that financial intermediary if you have any questions. If you are invested in a tax qualified account, please see important additional information below.
Income Tax Matters. The liquidation of the Fund, like any redemption of Fund shares, will constitute a sale upon which a gain or loss may be recognized for state and federal income tax purposes, depending on the type of account and the adjusted cost basis of the investor’s shares. Please contact your tax advisor to discuss the tax consequences to you of the Liquidation...
