Benefits of investing in the abrdn Emerging Market Local Currency Debt Fund

Investing in the Fund offers a number of benefits, including:

• Exposure to a diversified portfolio of emerging market currencies and bond securities across the government and corporate debt markets, denominated in local currency.

• An investment that can complement an existing core bond portfolio.

• Investing with an established, well-resourced, stable Emerging Market Debt team, with deep experience in managing emerging markets debt strategies.

Risk level

High

Investor suitability

Mainly direct and indirect investors seeking a diversified portfolio that focusses on aiming to deliver a combination of income, capital appreciation and foreign currency appreciation by investing primarily in emerging market foreign currency and bond securities.

About the Fund

The abrdn Emerging Market Local Currency Debt Fund (The Fund') gains exposure to emerging market currencies and emerging market local currency-denominated debt and debt-related securities by investing in an Australian dollar unhedged share class of the Aberdeen Standard Investments Global SICAV Emerging Market Local Currency Debt Fund (the Underlying Fund').

The Fund may also hold up to 5% of its assets in money market instruments, cash or collective investment schemes investing in money market instruments or cash.

The Underlying Fund can invest in a range of assets including emerging market currencies and emerging market local currency- denominated debt and debt-related securities, and may also invest in other transferable securities, money-market instruments, deposits, cash and near cash, derivatives (including, but not limited to, currency forwards, interest rate and credit default swaps) and collective investment schemes.

The Underlying Fund is a Luxembourg domiciled SICAV regulated by the Commission De Surveillance Du Secteur Financier (CSSF).

How we invest your money

The investment objective of the Fund is to outperform the benchmark, the J.P. Morgan GBI-EM Global Diversified Index (Australian dollar unhedged), over rolling three year periods, by investing primarily in emerging market currencies and emerging market local currency-denominated debt and debt- related securities.

The Fund aims to meet this objective by investing 95-100% of its Net Asset Value in an Australian dollar unhedged share class of the Luxembourg domiciled Aberdeen Standard Investments Global SICAV Emerging Market Local Currency Debt Fund (the Underlying Fund') and may hold up to 5% in money market instruments, cash or collective investment schemes investing in money market instruments or cash.

The Underlying Fund's investment objective is long term total return and to outperform the JP Morgan GBI-EM Global Diversified Index (USD) benchmark before charges.

The Underlying Fund seeks to achieve its investment objective by investing primarily in emerging market currencies and emerging market local currency- denominated debt and debt-related securities. These include bonds as well as inflation-linked bonds issued by governments, supranational institutions or government-related bodies. The Underlying Fund may hold investment grade and sub-investment grade corporate bonds issued in non-emerging market countries worldwide.

The Underlying Fund may also invest in other transferable securities, money- market instruments, deposits, cash and near cash, derivatives (including currency forwards, interest rate and credit default swaps) and collective investment schemes. The Fund gains exposure to these assets via an investment in shares in the Underlying Fund (an unlisted international equity).

The investment strategy of the Underlying Fund aims to produce investment returns through active management by our Emerging Market Debt investment team, who will select emerging market currencies and emerging market local currency-denominated debt and debt-related securities, and other assets, to try to take advantage of opportunities they have identified.

The Fund invests in an Australian dollar unhedged share class of the Underlying Fund. An Australian dollar unhedged share class is fully exposed to any changes in the foreign currency exchange rates that the Underlying Fund is exposed to, as well as any changes in the exchange rate between the Reference Currency of the Underlying Fund (US dollars) and the Australian dollar.

For more information about the investment strategy of the Underlying Fund, refer pp 8-9 of the product PDS.