abrdn Real Estate Fund Class Institutional Accumulation

OBJECTIVES AND INVESTMENT POLICY Investment Objective To generate income and some growth over the long term (5 years or more) by investing in UK commercial property. It is intended that the sub-fund will be a PAIF at all times and, as such, its investment objective is to carry on property investment business and to manage cash raised for investment in the property investment business. Performance Target: To exceed the return of the Investment Association UK Direct Property Sector Average return (after charges) over rolling three year periods. There is no certainty or promise that the Performance Target will be achieved. The Investment Association Direct Property Sector is a representative group of investment funds with a focus on direct property located in the UK. Investment Policy Portfolio Securities - The fund will invest at least 70% in a portfolio of UK commercial property selected from across the retail, office, industrial and other sectors. - The fund may also invest indirectly in commercial property through investment vehicles such as companies both listed and not listed on a stock exchange or funds (including those managed by abrdn). - The fund may invest in cash and assets that can be turned into cash quickly. Management Process - The management team use their discretion (active management) to identify investments that are expected to benefit from changes in property prices and property improvements. They will maintain a diverse asset mix at sector level. - Due to the fund's risk constraints the fund's performance profile is not expected to deviate significantly from that of the MSCI UK Daily Traded APUTs and PAIFs in the UK Quarterly Universe Property Index (the "Index") over the longer term. - Please note: Selling property can be a lengthy process so investors in the fund should be aware that, in certain circumstances, they may not be able to sell their investment when they want to. The Index is a representative group of UK investment funds which invest in direct UK property. Derivatives and Techniques - The fund may use derivatives to reduce risk, reduce cost and/or generate additional income or growth consistent with the risk profile of the fund. - Derivatives are linked to the value of other assets. In other words, they derive their price from one or more underlying asset. - Where derivatives are used, this would typically be to maintain allocations following a significant inflow into the fund. Investors in the fund may buy and sell shares on any dealing day (as defined in the Prospectus). If you invest in income shares, income from investments in the fund will be paid out to you. If you invest in accumulation shares, income will be added to the value of your shares. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. Investors should satisfy themselves that their attitude to risk aligns with the risk profile of this fund before investing.