abrdn High Yield Bond Fund 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 Sterling and Euro denominated sub-investment grade (high yield) corporate bonds. Performance Target To achieve the return of the ICE BofA GBP/Euro Fixed & Floating High Yield Non-Financial 3% Constrained Index (Hedged to GBP) plus 0.8% per annum over rolling three year periods (before charges). There is no certainty or promise that the Performance Target will be achieved. The ICE BofA GBP/Euro Fixed & Floating High Yield Non-Financial 3% Constrained (Hedged to GBP) Index ( the "Index") is a representative index of the market for high yield bonds in Europe which excludes financial institutions. Investment Policy Portfolio Securities - The fund will invest at least 70% in sterling and euro denominated subinvestment grade (high yield) corporate bonds (which are like loans to companies that pay a high rate of interest but have a low credit rating). - The fund may also invest in other bonds (including those issued by government and government-related bodies) issued anywhere in the world. - The fund may also invest in other funds (including those managed by abrdn), cash and assets that can be turned into cash quickly. Management Process - The management team use their discretion (active management) to identify investments based on analysis of global economics along with analysis of an investment's prospects and creditworthiness (debt repayment ability) compared to that of the market. - Due to the fund's risk constraints the fund's performance profile is not expected to deviate significantly from that of the Index over the long term. Please note: The fund's ability to buy and sell bonds and the associated costs can be affected during periods of market stress which could include periods where interest rates move sharply. 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. They can generate returns when the value of these underlying assets rise (long positions) or fall (short positions). -Derivatives include instruments used to manage expected changes in interest rates, inflation, currencies or creditworthiness of corporations or governments. 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.