THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE Dear Shareholder, ABERDEEN GLOBAL 6 Sep

Transcription

1 Aberdeen Global Summary Prospectus April 2016

2 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE Dear Shareholder, ABERDEEN GLOBAL 6 September 2016 Your Board of Directors has decided to make changes to Aberdeen Global. The principal proposed changes are detailed in this letter. The Hong Kong offering documents of Aberdeen Global (the Hong Kong Offering Documents ) will also be updated accordingly. Capitalised terms used in this letter shall have the same meaning ascribed to them in the latest version of the Hong Kong Offering Documents unless the context otherwise requires. CHANGES TO EXISTING SUB-FUND 1. Change of investment adviser for Aberdeen Global Australasian Equity Fund With effect from 7 October 2016, Aberdeen Asset Management Limited will replace Aberdeen Asset Management Asia Limited as Investment Adviser to the Aberdeen Global Australasian Equity Fund. Aberdeen Asset Management Limited is authorised and regulated by the Australian Securities and Investments Commission. The investment objective and policy of the sub-fund will remain unchanged and the above change will have no impact on the current investment portfolio and investment strategy or risk profile of the subfund. The above change will not result in a change in the operation and/or manner in which the subfund is being managed. The maximum and current levels of fees and expenses (including the effective Operating, Administrative and Servicing Expenses) applicable to Aberdeen Global and its sub-funds as described in the Hong Kong Offering Documents will not change as result of the changes mentioned above. Shareholders affected by the changes mentioned above who feel that the aforementioned changes no longer meet their investment requirements may request redemption or switching of their shares, free of any applicable redemption and/or subscription charges, until 17:00 hours Hong Kong time on 6 October ADMINISTRATIVE CHANGES The Hong Kong Offering Documents will also be updated for factual information as well as certain clarifications, including but not limited to the following. The information relating to the board of directors of Aberdeen Global will be updated to reflect recent changes in the composition of the board. Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

3 It will be clarified that the following sub-funds may invest directly or indirectly no more than 10% of their Net Asset Value in Mainland China securities (including through QFII, RQFII, the Shanghai-Hong Kong Stock Connect programme, participatory notes, equity linked notes and any other eligible means): Aberdeen Global - Asia Pacific Equity Fund Aberdeen Global - Asian Property Share Fund Aberdeen Global - Asian Smaller Companies Fund Aberdeen Global - Chinese Equity Fund Aberdeen Global - Emerging Markets Equity Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund Aberdeen Global - Emerging Markets Local Currency Bond Fund Aberdeen Global - Emerging Markets Smaller Companies Fund The Hong Kong additional country specific restrictions in the Hong Kong Offering Documents will be updated accordingly. The General Risk Factors will be updated in respect of the risk factors concerning investing in China, specifically to include risks relating to Shanghai-Hong Kong Stock Connect. The Hong Kong Offering Documents will be updated in respect of the management fees of Aberdeen Global Eastern European Equity Fund which were reduced with effect from 1 July 2016, as previously communicated to shareholders. The Hong Kong Offering Documents will be updated to take into account the following updates to relevant country specific details: a. Certain Classes of Shares of Aberdeen Global North American Smaller Companies Fund have been approved by the Financial Supervisory Commission, for offering or distribution in Taiwan. As a result, additional country specific investment restrictions relating to Taiwan shall apply to Aberdeen Global North American Smaller Companies Fund. b. Certain Classes of Shares of Aberdeen Global Australasian Equity Fund have been deregistered with the Financial Supervisory Service in Korea. As a result, additional country specific investment restrictions relating to Korea shall no longer apply to Aberdeen Global Australasian Equity Fund. c. Aberdeen Global Eastern European Equity Fund has become eligible for the French Plan d'epargne Actions (PEA). As a result, additional country specific investment restriction relating to France shall apply to Aberdeen Global Eastern European Equity Fund. The Hong Kong Offering Documents The changes detailed in this letter will be reflected in a new Hong Kong Offering Documents of Aberdeen Global in due course. Your Board of Directors accepts responsibility for the accuracy of the information contained in this letter. To the best of the knowledge and belief of your Board of Directors (who have taken reasonable care to ensure this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the importance of such information. If you have any questions or would like any further information please contact us at our registered office or in the case of Hong Kong Shareholders, at Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong, Tel

4 Your Board of Directors believes that the changes are fair and reasonable and are in the best interests of shareholders. Yours faithfully, For and on behalf of the Board of Directors Aberdeen Global 3

5 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE 18 August 2016 Notice to the shareholders of Aberdeen Global Emerging Markets Local Currency Bond Fund Dear Shareholder, Notice is hereby given to you as a shareholder of Aberdeen Global Emerging Markets Local Currency Bond Fund (the Fund ), of the decision of the board of directors (the Board of Directors ) of Aberdeen Global (the Company ) to merge Aberdeen Global II Emerging Europe Bond Fund, a sub-fund of Aberdeen Global II, a separate Luxembourg-domiciled umbrella investment company with variable capital qualifying as a UCITS (the Merging Fund ), by way of merger by amalgamation, into the Fund (the Merger ) on Friday 23 September 2016 at 23:59 (Luxembourg time) (the Effective Date ). Aberdeen Global II Emerging Europe Bond Fund and Aberdeen Global II are not authorised by the Securities and Futures Commission and are not available to investors in Hong Kong. The Merger will be effected in accordance with the provisions of article 1(20) a) and with Chapter 8 of the Luxembourg law of 17 December 2010 on undertakings for collective investment, as amended. The shareholders of the Merging Fund 1 who participate in the Merger will receive, in exchange for their shares, shares in the Fund of the following new class: Class E-2 shares (ISIN: LU ). 1) Background to and rationale for the Merger The Merger is part of a rationalisation of the Aberdeen-managed fixed income fund range that is being undertaken with the aim of generating efficiencies in the management and marketing of products. This includes merging funds that pursue similar investment strategies. Aberdeen pursues the optimisation of its product range by regularly reviewing the existing product ranges according to investment strategy, fund size, economies of scale and cost efficiency. The Merger aims to consolidate the assets under management and render the products more commercially viable. 1 The Merging Fund is not authorised by the Securities and Futures Commission and is not available to investors in Hong Kong. Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

6 2) Impact on the Fund The investment portfolio of the Merging Fund 1 will be rebalanced prior to the Merger. It is currently intended that the process of rebalancing the Merging Fund s 1 portfolio will begin during the week prior to the Merger. A significant proportion of its portfolio will be reduced to cash which will be transferred to the Fund as part of the Merger. The Fund s investment portfolio will not need to be rebalanced before or after the Merger. The Fund will continue to be managed according to its current investment objective and policy after the Merger. In addition, since an income equalisation policy is operated in respect of the Fund, any income accruing to existing shareholders will not be diluted as a result of the Merger. Consequently, the Board of Directors does not anticipate any material impact on the Fund s investment portfolio or performance as a result of the Merger. 3) Impact on the dealing and valuation times In order to facilitate the Merger and minimise the risk of an operation error which may arise due to the Merger, the Board of Directors, in accordance with Article 21 of the articles of incorporation of the Company and in consultation with BNP Paribas Securities Services, Luxembourg branch, the custodian of the Fund, has decided to suspend calculation of the net asset value and thus dealing in the shares of the Fund on the Effective Date, Friday 23 September During the suspension period the Fund will continue to accept redemption requests, which will be dealt with immediately upon resumption of dealing. Shareholders should note that any subscription, redemption or conversion applications for Shares in the Fund received after 17:00 (Hong Kong time) on Thursday 22 September 2016 will be priced as at Monday 26 September The Board of Directors believes that such a suspension is in the best interests of shareholders of the Fund. A list of the share classes of the Fund that will be affected by the suspension of dealing is set out in the appendix to this letter. 4) Expenses and costs Aberdeen will pay the costs of rebalancing the portfolio of the Merging Fund 1. All other costs of implementing the Merger, including legal, accounting and other administrative expenses, will also be paid by Aberdeen. 5) What to do next IF YOU WISH TO CONTINUE TO INVEST IN ABERDEEN GLOBAL THROUGH THE FUND, YOU DO NOT NEED TO TAKE ANY FURTHER ACTION. Shareholders of the Fund have the right to redeem their shares free of charge until 17:00 (Hong Kong time) on Thursday 22 September

7 Shareholders may obtain copies of the auditor s report relating to the Merger and the common terms of merger agreed between the Company and Aberdeen Global II free of charge from the registered office of the Company. The Board of Directors accepts responsibility for the accuracy of the information contained in this letter. To the best of the knowledge and belief of the Board of Directors (who have taken reasonable care to ensure this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the importance of such information. If you have any questions or would like any further information please contact us at our registered office or in the case of Hong Kong Shareholders, at Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong, Tel Yours faithfully For and on behalf of the Board of Directors of Aberdeen Global on behalf of Aberdeen Global Emerging Markets Local Currency Bond Fund 3

8 Appendix List of share classes of the Fund affected by the suspension of dealing Share Class name ISIN SEDOL Aberdeen Global - Emerging Markets Local Currency LU B3K89Q3 Bond Fund A-1 Aberdeen Global - Emerging Markets Local Currency LU B3K89R4 Bond Fund A-2 Aberdeen Global - Emerging Markets Local Currency LU B4SYZG2 Bond Fund A-2 (EUR) Aberdeen Global - Emerging Markets Local Currency Bond Fund I-2 LU B3K8B01 4

9 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE 18 August 2016 Notice to the shareholders of Aberdeen Global Select Euro High Yield Bond Fund Dear Shareholder, Notice is hereby given to you as a shareholder of Aberdeen Global Select Euro High Yield Bond Fund (the Fund ), of the decision of the board of directors (the Board of Directors ) of Aberdeen Global (the Company ) to merge the following two funds into the Fund by way of merger by amalgamation (each, a Merger ) on Friday 23 September 2016 at 23:59 (Luxembourg time) (the Effective Date ). - Aberdeen Global Select High Yield Bond Fund, a separate sub-fund of the Company ( AG SHYBF ); and - Aberdeen Global II Euro High Yield Bond Fund, a sub-fund of Aberdeen Global II, which like the Company is a Luxembourg-domiciled umbrella investment company with variable capital qualifying as a UCITS ( AG II EHYBF and, together with AG - SHYBF, the Merging Funds ). Aberdeen Global II Euro High Yield Bond Fund and Aberdeen Global II are not authorised by the Securities and Futures Commission and are not available to investors in Hong Kong. Each of the Mergers will be effected in accordance with the provisions of article 1(20) a) and with Chapter 8 of the Luxembourg law of 17 December 2010 on undertakings for collective investment, as amended. The shareholders of AG SHYBF who participate in its Merger will receive, in exchange for their shares, shares in the Fund of the following class: Class D-1 shares (ISIN: LU ). The shareholders of AG II EHYBF 1 who participate in its Merger will receive, in exchange for their shares, shares in the Fund of the following classes: Class A-2 shares (ISIN: LU ) and Class I-2 shares (ISIN: LU ). 1 AG II EHYBF is not authorised by the Securities and Futures Commission and is not available to investors in Hong Kong. Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

10 1) Background to and rationale for the Mergers Each of the Mergers is part of a rationalisation of the Aberdeen-managed fixed income fund range that is being undertaken with the aim of generating efficiencies in the management and marketing of products. This includes merging funds that pursue similar investment strategies. Aberdeen pursues the optimisation of its product range by regularly reviewing the existing product ranges according to investment strategy, fund size, economies of scale and cost efficiency. Each of the Mergers aims to consolidate the assets under management and render the products more commercially viable. 2) Impact on the Fund The Fund will continue to be managed according to its current investment objective and policy after the Mergers. The Fund s investment portfolio will not need to be rebalanced before or after the Mergers. In addition, since an income equalisation policy is operated in respect of the Fund, any income accruing to existing shareholders will not be diluted as a result of the Mergers. Consequently, the Board of Directors does not anticipate any material impact on the Fund s investment portfolio or performance as a result of the Mergers. 3) Impact on the dealing and valuation times In order to facilitate the Mergers and minimise the risk of an operation error which may arise due to the Mergers, the Board of Directors, in accordance with Article 21 of the articles of incorporation of the Company and in consultation with BNP Paribas Securities Services, Luxembourg branch, the custodian of the Fund, has decided to suspend calculation of the net asset value and thus dealing in the shares of the Fund on the Effective Date, Friday 23 September During the suspension period the Fund will continue to accept redemption requests, which will be dealt with immediately upon resumption of dealing. Shareholders should note that any subscription, redemption or conversion applications for Shares in the Fund received after 17:00 (Hong Kong time) on Thursday 22 September 2016 will be priced as at Monday 26 September The Board of Directors believes that such a suspension is in the best interests of shareholders of the Fund. A list of the share classes of the Fund that will be affected by the suspension of dealing is set out in the appendix to this letter. 4) Expenses and costs Any portfolio adjustment costs that arise will be borne by the relevant Merging Fund. All other costs of implementing the Mergers, including including legal, accounting and other administrative expenses, will be paid by Aberdeen. 2

11 5) What to do next IF YOU WISH TO CONTINUE TO INVEST IN ABERDEEN GLOBAL THROUGH THE FUND, YOU DO NOT NEED TO TAKE ANY FURTHER ACTION. Shareholders of the Fund have the right to redeem their shares free of charge until 17:00 (Hong Kong time) on Thursday 22 September Shareholders may obtain copies of the auditor s report relating to the Mergers and the common terms of merger agreed between the Company and Aberdeen Global II free of charge from the registered office of the Company. The Board of Directors accepts responsibility for the accuracy of the information contained in this letter. To the best of the knowledge and belief of the Board of Directors (who have taken reasonable care to ensure this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the importance of such information. If you have any questions or would like any further information please contact us at our registered office or in the case of Hong Kong Shareholders, at Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong, Tel Yours faithfully For and on behalf of the Board of Directors of Aberdeen Global on behalf of Aberdeen Global Select Euro High Yield Bond Fund 3

12 Appendix List of share classes of the Fund affected by the suspension of dealing Share Class name ISIN SEDOL Aberdeen Global - Select Euro High Yield Bond Fund A-1 (USD) LU B7YH9Z3 Aberdeen Global - Select Euro High Yield Bond Fund I-1 (USD) LU BK00N00 Aberdeen Global - Select Euro High Yield Bond Fund A-1 LU Aberdeen Global - Select Euro High Yield Bond Fund A-2 LU Aberdeen Global - Select Euro High Yield Bond Fund D-1 LU B0L1034 Aberdeen Global - Select Euro High Yield Bond Fund A-2 (USD) LU B27Z3Q8 Aberdeen Global - Select Euro High Yield Bond Fund A-1 (GBP) LU B4SYZM8 Aberdeen Global - Select Euro High Yield Bond Fund A-2 (GBP) LU B4SYZN9 Aberdeen Global - Select Euro High Yield Bond Fund D-2 (GBP) LU B3QN995 4

13 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE Dear Shareholder: Notice to the shareholders of Aberdeen Global Select High Yield Bond Fund 18 August 2016 Notice is hereby given to you as a Shareholder of Aberdeen Global Select High Yield Bond Fund (the Merging Fund ) to inform you of the decision of the Board of Directors to merge the Merging Fund into Aberdeen Global Select Euro High Yield Bond Fund (the Receiving Fund ), a sub-fund of the same Aberdeen Global umbrella investment company, on Friday 23 September 2016 at 23:59 (Luxembourg time) (the Effective Date ). The transfer of assets and liabilities of the Merging Fund into the Receiving Fund will take place on the Effective Date. 1 Details of the aforesaid merger (the Merger ), together with details regarding the action you should take and the implications for you as a Shareholder, are set out in this document. The Board of Directors has resolved to merge the Merging Fund with the Receiving Fund in accordance with article 20 of the articles of incorporation of Aberdeen Global on the basis that the Merger is in the best interests of Shareholders and with the provisions of article 1 (20) a) and Chapter 8 of the law of 17 December 2010 regarding undertakings for collective investment, as amended (the 2010 Law ). The Merging Fund is no longer allowed to be marketed to the public in Hong Kong and shall not accept subscription from new investors with effect from the date hereof. The Merging Fund will be liquidated as soon as possible after the Merger. In this document, unless the context requires otherwise, the terms shall have the meaning set out in the Glossary at Appendix 1. The timetable of key dates in the process to implement the Merger is set out in Appendix 3. Rationale for the Merger The Merging Fund is approximately 48 million 2 in size. The Merging Fund is a relatively small fund and consequently more difficult to manage in an efficient manner compared to larger funds. The Board of Directors does not believe that the Merging Fund will remain a viable proposition for investors seeking a long term combination of income and capital growth. The Receiving Fund pursues a substantially similar strategy to the Merging Fund. The Receiving Fund is approximately 913 million 3 in size and is actively marketed as the flagship European 1 The values of the assets and liabilities in the base currency of the Merging Fund (GBP) will be converted into the base currency of the Receiving Fund (EUR) using the foreign exchange rate prevailing at 13:01 (Luxembourg time) on Thursday 22 September Figure as at 3 June Figure as at 3 June Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

14 high yield product in the Aberdeen range. Its size and wide investor base that it can generally be managed more efficiently than the Merging Fund. The Merger is part of a rationalisation of the Aberdeen fixed income fund range that is being undertaken with the aim of generating efficiencies in the management and marketing of products. This includes merging funds that pursue similar investment strategies. We believe that the implementation of the Merger is in the best interests of Shareholders and will ultimately be to the benefit of Shareholders over time as a result of rationalisation efficiencies. Comparison of the Merging Fund and the Receiving Fund Key Similarities and Differences between the Merging Fund and the Receiving Fund The investment objectives and policies of the Merging Fund and the Receiving Fund are substantially similar in that both aim to provide a combination of income and capital growth through investment in sub-investment grade fixed interest securities issued by corporations or government-related bodies. There is however one noteworthy difference between the Merging Fund and the Receiving Fund in relation to currency exposure. Whilst the assets in the Merging Fund are predominantly unhedged, the assets in the Receiving Fund are denominated in or hedged to euros. The annual management charge ( AMC ) will be lower for Class D Shareholders. The current AMC is 1.35% for Class D Shares of the Merging Fund, whereas the AMC is 1.25% for the Class D Shares of the Receiving Fund that will be issued to Class D Shareholders. The lower AMC will contribute to a lower ongoing expenses charge as shown in Appendix 2. It should also be noted that whilst the Merging Fund makes payments of available income on a quarterly basis, the Receiving Fund makes income payments on a monthly basis. There will be no change to the investment objective and the fee structure of the Receiving Fund as a result of the Merger. Risk Profiles The Synthetic Risk Reward Indicator ( SRRI ) demonstrates where an investment fund ranks in terms of its potential risk and reward. The higher the figure, the greater the potential reward, but also the greater the risk of losing money. The Merging Fund has an SRRI of 4, whereas the Receiving Fund has a higher SRRI of 5. These figures are based on past data and the difference is due to annualised volatility being higher for the Receiving Fund. After the Merger, the Shareholders of the Merging Fund will be investing in a fund (i.e. the Receiving Fund) of a higher SRRI of 5. The implication of higher volatility is a higher risk-reward profile. At any given time of redeeming their investment in a fund with a higher SRRI, investors of such fund might have a higher gain or a higher loss. The risk profile and the SRRI of Receving Fund will not change as a result of the Merger. SRRIs may change over time, however, and they may not be a reliable indication of the future risk profile of an investment fund. 2

15 A table highlighting the principal similarities and differences between the Merging Fund and the Receiving Fund is set out at Appendix 2. Expected Impact of the Merger It is not expected that there will be any material difference in the rights of Shareholders before and after the Merger takes effect. Both Funds portfolios are managed by the same investment management team at Aberdeen and therefore Shareholders can be confident of continuity of management and investment processes. Final Distribution Where there is income available for distribution in respect of Shares in the Merging Fund for the period ending on Thursday 22 September 2016, this will be transferred to the distribution account of the Merging Fund. The distribution payment date of any such accrued income will be Tuesday 22 November Terms of the Merger On the Effective Date, Shareholders who have not redeemed their Shares in the Merging Fund (see What to do next below) will become shareholders of the Receiving Fund and will receive corresponding New Shares in the Receiving Fund of the same share class (i.e Class D-1 (income)) as the Shares they currently hold (as set out below) in exchange for the transfer of the assets and liabilities of the Merging Fund to the Receiving Fund. Shares in the Merging Fund will be deemed to have been cancelled and will cease to be of any value. The investment portfolios of the Merging Fund and Receiving Fund will not need to be adjusted or rebalanced before or after the Merger. The Classes of New Shares to be issued to Shareholders pursuant to the Merger are as follows: Merging Fund Receiving Fund Class of Shares ISIN code Class of New Shares ISIN code Class D-1 (income) LU Class D-1 (income) LU New Shares will be issued to each Shareholder invested in the Merging Fund according to the following formula: N = (S x P) / R Where: N = Number of New Shares to be issued to such Shareholder S = Number of Shares of the corresponding class owned by such Shareholder immediately prior to the Effective Date P = Price per Share of the corresponding class owned by such Shareholder for purposes of the Merger R = Price per New Share of the relevant Class of the Receiving Fund The price of each New Share to be issued shall be the price based on the Receiving Fund Value. All New Shares issued will be Group 2 Shares for the purposes of income equalisation. 3

16 The number of New Shares to be issued to each Shareholder will (if necessary) be rounded up to the nearest fraction (three decimal places) at the expense of the Management Company. Part of the consideration for the issue of New Shares in the Receiving Fund may be treated as income equalisation. Costs The Merging Fund and the Receiving Fund have no unamortized preliminary expenses. All costs of implementing the Merger, including legal, advisory and administrative expenses and the costs of liquidation of the Merging Fund after the Merger, are estimated to be approximately 45,000 and will be paid by Aberdeen. Tax implications Aberdeen Global will not be subject to any tax in Hong Kong so long as Aberdeen Global does not carry on a trade or business of dealing in securities or commodities in Hong Kong. It is not the intention of Aberdeen Global to carry on such a trade or business or to establish a place of business in Hong Kong. Shareholders will not be subject to any Hong Kong tax on distributions from Aberdeen Global or on capital gains realised on the sale, switching, redemption or other disposal of any Shares in Aberdeen Global unless the acquisition and realisation of Shares in Aberdeen Global is or forms part of a trade, profession or business carried on in Hong Kong, in which case gains realised by the relevant Shareholder may attract Hong Kong profits tax. No Hong Kong stamp duty will be payable on the issue or transfer of Shares in Aberdeen Global. Please be aware that the Merger may create a chargeable tax event in your country of tax residence. Your tax position may also change as a result of the Merger under the tax laws in the country of your nationality, residence, domicile or incorporation and we strongly suggest seeking advice from your financial advisor to ensure that the Receiving Fund, in which you will become a shareholder, is in line with your requirements and situation. What to do next IF THE MERGER MEETS YOUR REQUIREMENTS, YOU DO NOT NEED TO TAKE ANY ACTION. If you do not redeem your Shares as described below, you will automatically become a shareholder of the Receiving Fund on Friday 23 September 2016 at 23:59 (Luxembourg time) and will be sent a confirmation by Aberdeen shortly afterwards detailing your holding of New Shares. Dealing in New Shares will begin at 09:00 (Luxembourg time) on Monday 26 September 2016, being the next business day following the Effective Date. If the Merger does not meet your requirements, you have the right to redeem your Shares in the Merging Fund or to switch into another SFC-authorised sub-fund of Aberdeen Global free of charge until 17:00 (Hong Kong time) on Thursday 22 September In such case, you should note that a redemption or switch will be treated as a disposal of Shares for tax purposes and you may be liable to tax on any gains arising from the redemption or switch of Shares. 4

17 Additional Information You may obtain a copy of the auditor s report, a copy of the common terms of merger, and a copy of the respective confirmation statements made by the depositary in respect of the Merger, in each case free of charge, upon written request to Aberdeen Global Services S.A., 35a avenue John F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg. The summary prospectus and the articles of incorporation of Aberdeen Global, and the product key facts statement of the Receiving Fund is available for inspection during usual business hours on any weekday (Saturdays, Sundays and public holidays excepted) at the offices of the Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong. Your Board of Directors accepts responsibility for the accuracy of the information contained in this letter. To the best of the knowledge and belief of your Board of Directors (who have taken reasonable care to ensure this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the importance of such information. If you have any questions or would like any further information please contact us at our registered office or in the case of Hong Kong Shareholders, at Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong, Tel Yours faithfully, For and on behalf of the Board of Directors of Aberdeen Global on behalf of Aberdeen Global Select High Yield Bond Fund 5

18 Appendix 1 Glossary 2010 Law the Luxembourg law of 17 December 2010 regarding undertakings for collective investment, as amended; Aberdeen Aberdeen SICAV Class Effective Date Funds Group 2 Shares Management Company Merging Fund Merging Fund Value Merger the Aberdeen Asset Management PLC group of companies; Aberdeen Global, a Luxembourg-domiciled société d'investissement à capital variable established as a société anonyme; any class of shares of a Fund; the effective date of the merger (expected to be Friday 23 September 2016 at 23:59 (Luxembourg time)) or such other time and/or date as may, prior to such other time and/or date, be agreed by the Aberdeen SICAV and the Depositary; the Merging Fund and the Receiving Fund, and Fund shall mean either of them as the context requires; in respect of a distribution period, shares purchased during such distribution period and which are held at close of business at the end of such distribution period; Aberdeen Global Services S.A., the appointed management company of the Aberdeen SICAV; Aberdeen Global Select High Yield Bond Fund, a sub-fund of the Aberdeen SICAV; the net asset value of the Merging Fund calculated in accordance with the articles of incorporation of the Aberdeen SICAV as at 13:01 (Luxembourg time) on Thursday 22 September 2016, less, as applicable, any income to be distributed to Shareholders of Shares in the Merging Fund in respect of the period ending at 13:00 (Luxembourg time) on Thursday 22 September 2016; the merger of the Merging Fund with the Receiving Fund on the Effective Date; 6

19 New Shares Receiving Fund Receiving Fund Value Share Depositary Shares of the appropriate class in the Receiving Fund to be issued pursuant to the Merger; Aberdeen Global - Select Euro High Yield Bond Fund, a sub-fund of the Aberdeen SICAV; the value of the property of the Receiving Fund calculated in accordance with the articles of incorporation of the Aberdeen SICAV as at 13:01 (Luxembourg time) on Thursday 22 September 2016 based on the valuation of the scheme property at 13:01 (Luxembourg time) on Thursday 22 September 2016; any share of any Class of a Fund; and the depositary of the Aberdeen SICAV (of which the Merging Fund and the Receiving Fund are sub-funds), currently BNP Paribas Securities Services, Luxembourg branch. 7

20 Appendix 2 Comparison of the principal features of the Merging Fund and the Receiving Fund Feature Merging Fund Receiving Fund Fund Aberdeen Global Select High Yield Bond Fund Type of Fund UCITS UCITS Company Aberdeen Global Aberdeen Global Management Company Investment Adviser(s) Depositary Custodian Aberdeen Global Services S.A. Aberdeen Asset Managers Limited BNP Paribas Securities Services, Luxembourg Branch BNP Paribas Securities Services, Luxembourg Branch Base currency GBP EUR Dealing Daily Daily Dealing Days Investment Objective and Policy Any Business Day other than, days during a period of suspension of dealing in Shares in that Fund or, days (as determined by the Board in its discretion) on which any exchange or market on which a substantial portion of the relevant Fund s portfolio is traded, is closed. The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in fixed interest securities which are Sub-Investment Grade and issued by corporations or government related bodies. Aberdeen Global - Select Euro High Yield Bond Fund Aberdeen Global Services S.A. Aberdeen Asset Managers Limited BNP Paribas Securities Services, Luxembourg Branch BNP Paribas Securities Services, Luxembourg branch Any Business Day other than, days during a period of suspension of dealing in Shares in that Fund or, days (as determined by the Board in its discretion) on which any exchange or market on which a substantial portion of the relevant Fund s portfolio is traded, is closed. The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in fixed interest securities which are Sub-Investment Grade and denominated in Euro and issued by corporations or government related bodies. Investment in other collective investment schemes Restricted to 10% of the Fund s net assets. Restricted to 10% of the Fund s net assets. 8

21 Eligible securities and derivatives markets Government and public securities Specific Risk Factors A stock exchange or Regulated Market in any Member State of the EU or any other state in Eastern and Western Europe, Asia, Africa, Australia, North America, South America and Oceania. Up to 100% of the net assets of the Fund may be invested in government and public securities issued or guaranteed by any one of certain issuers listed in the summary prospectus provided that the Fund must hold securities from at least six different issues and securities from one issue do not account for more than 30% of the net assets of the Fund. The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The Fund s portfolio may have a significant position in Sub- Investment Grade bonds and/or high-yielding bonds, which means that there may be more risk to investor s capital and income than from a fund investing in Investment Grade bonds. The Fund may be invested in contingent convertible bonds. If the financial strength of a bond s issuer falls by a predetermined threshold, the bond may suffer substantial or A stock exchange or Regulated Market in any Member State of the EU or any other state in Eastern and Western Europe, Asia, Africa, Australia, North America, South America and Oceania. Up to 100% of the net assets of the Fund may be invested in government and public securities issued or guaranteed by any one of certain issuers listed in the summary prospectus provided that the Fund must hold securities from at least six different issues and securities from one issue do not account for more than 30% of the net assets of the Fund. The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The Fund will have significant exposure to one currency, increasing its potential volatility. The Fund s exposure to a specific regional market increases potential volatility. The Fund s portfolio may have a significant position in Sub- Investment Grade bonds and/or high-yielding bonds, which means that there may be more risk to investor s capital and income than from a fund investing in Investment Grade bonds. 9

22 Derivatives Risk Management Approach Synthetic Risk Reward Indicator (SRRI) Share Classes and associated Annual Management Charge (AMC) Ongoing expenses mechanism and ongoing charges figure (OCF) total losses of capital (investors should refer to the risk factor Contingent Securities in the section General Risk Factors in the summary prospectus for information on other risks associated with contingent convertible bonds). The Fund will only invest in financial derivative instruments for hedging and/or to manage foreign exchange risks. Commitment approach The Fund may be invested in contingent convertible bonds. If the financial strength of a bond s issuer falls by a predetermined threshold, the bond may suffer substantial or total losses of capital (investors should refer to the risk factor Contingent Securities in the section General Risk Factors in the summary prospectus for information on other risks associated with contingent convertible bonds). The Fund will only invest in financial derivative instruments for hedging and/or to manage foreign exchange risks. Commitment approach Class D-1 share class: 4 Class D-1 share class: 5 Class D-1 share class: 1.35% Class D-1 share class: 1.25% Certain ongoing operating, administrative and servicing expenses ( Operating, Administrative and Servicing Expenses ) are fixed below applicable maximum rates for each share class of the Fund as set out in the summary prospectus. Class D-1 share class: 1.58% The ongoing charges figure is based on expenses for the year ended 30 September Certain ongoing operating, administrative and servicing expenses ( Operating, Administrative and Servicing Expenses ) are fixed below applicable maximum rates for each share class of the Fund as set out in the summary prospectus. Class D-1 share class: 1.44% The ongoing charges figure is based on expenses for the year ended 30 September Initial Investment Minima Class D-1 share class: US$1,500 *Or currency equivalent in each case. Class D-1 share class: US$1,500 *Or currency equivalent in each case. 10

23 Minimum subsequent purchase Minimum partial redemption Dates of the financial statements Fund size Class D-1 share class: US$1,500 *Or currency equivalent in each case. All share classes: No minimum Class D-1 share class: US$1,500 *Or currency equivalent in each case. All share classes: No minimum 31 December; 30 June 31 December; 30 June 48 million 913 million *Figures as at 3 June *Figures as at 3 June Deferred Aberdeen Global may limit the total Aberdeen Global may limit the total Redemption number of Shares that may be number of Shares that may be redeemed on any dealing day to a redeemed on any dealing day to a number representing 10% of the net number representing 10% of the net assets of that Fund. assets of that Fund. Pricing Single priced on a forward basis Single priced on a forward basis Valuation Point 13:00 (Luxembourg time) 13:00 (Luxembourg time) Investor Profile Accounting income period end dates Income payment dates This Fund gives access to high yield fixed income securities and may be suitable for investors willing to accept a high level of risk in their bond portfolio. Due to the high risks associated with non-investment grade bonds, investors are likely to use this Fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Annual 30 September Interim 31 December, 31 March, 30 June Within two months of respective accounting income period end dates This Fund gives access to Euro-denominated high yield securities and may be suitable for investors willing to accept a high level of risk in their fixed income investment. Due to the high risks associated with non-investment grade bonds, investors are likely to use this fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Last calendar day of each month Within one month of respective accounting income period end dates *The first income payment date in respect of New Shares will be 31 October

24 Appendix 3 Timetable of the Merger ACTION DATE IN 2016 Register extract date for Shareholder mailing Dispatch documentation to Shareholders Cut-off for receipt of deals in Merging Fund Final valuation point of Merging Fund for the purposes of dealing Suspension of dealing in Merging Fund Ex-date of final distribution for Merging Fund Valuation point of Merging Fund for the purposes of the Merger Conversion of values of assets and liabilities of Merging Fund into base currency of Receiving Fund Monday 8 August Thursday 18 August 13:00 (Luxembourg time) on Thursday 22 September 13:00 (Luxembourg time) on Thursday 22 September immediately after 13:00 (Luxembourg time) on Thursday 22 September 13:01 (Luxembourg time) on Thursday 22 September 13:01 (Luxembourg time) on Thursday 22 September 13:01 (Luxembourg time) on Thursday 22 September Effective Date of the Merger Friday 23 September at 23:59 (Luxembourg time) Open for dealing in New Shares 09:00 (Luxembourg time) on Monday 26 September End of annual accounting period for Receiving Fund (first after Effective Date) Statement of shareholding in the Receiving Fund dispatched to Shareholders Dividend payment date for Receiving Fund (first after Effective Date) Payment date of final distribution for Merging Fund Friday 30 September Monday 3 October Monday 31 October Tuesday 22 November Please note that these times and dates may differ if the Aberdeen SICAV and the Depositary agree that the Effective Date should be later than Friday 23 September Should any dates differ from those stated in the above timetable, Shareholders will be notified accordingly. 12

25 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE. Dear Shareholder, Aberdeen Global - Eastern European Equity Fund 30 June 2016 We write to notify you of the following changes to the Aberdeen Global Eastern European Equity Fund which will be effective from 1 July Capitalised terms used herein shall bear the same meanings as capitalised terms used in the Hong Kong Summary Prospectus dated April 2016 ( HKSP ), as may be amended and supplemented from time to time. REDUCTION OF CHARGES The investment manager s fee or annual management charge ( AMC ) and therefore the level of ongoing charge ( ONC ), in respect of some share classes of the Aberdeen Global Eastern European Equity Fund will be reduced as follows: Share Classes ISIN Previous AMC until 30 June 2016 (% of net asset value) Previous ONC until 30 June 2016 (% of net asset value) Effective AMC as of 1 July 2016 (% of net asset value) Effective ONC as of 1 July 2016 (% of net asset value) A - 2 LU % 2.24% 1.50% 1.99% I - 2 LU % 1.45% 0.75% 1.20% The changes detailed in this letter will be reflected in a new HKSP and the Product Key Facts Statement of Aberdeen Global Eastern European Equity Fund in due course. The management company accepts responsibility for the accuracy of the information contained in this letter. To the best of the knowledge and belief of the management company (who have taken reasonable care to ensure this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the importance of such information. If you have any questions or would like any further information please contact us at our registered office or in the case of Hong Kong Shareholders, at Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong, Tel Yours faithfully, For and on behalf of Aberdeen Global Services S.A. Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

26 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE 20 June 2016 Dear Shareholder, ABERDEEN GLOBAL Your Board of Directors has decided to make changes to Aberdeen Global. The principal proposed changes are detailed in this letter. The Hong Kong Summary Prospectus of Aberdeen Global (the HKSP ) and the Product Key Facts Statements of the relevant sub-funds of Aberdeen Global will also be updated accordingly. Capitalised terms used herein shall bear the same meanings as capitalised terms used in the HKSP dated April 2016, as may be amended and supplemented from time to time. CHANGES TO EXISTING SUB-FUNDS 1. Changes of Smaller Companies definition for Aberdeen Global Asian Smaller Companies Fund and Aberdeen Global - Emerging Markets Smaller Companies Fund With effect from 25 July 2016, the definition of Smaller Companies for these sub-funds will be amended so as to read as follows: For the purpose of this Fund, Smaller Companies are defined as companies with a market capitalisation in the Base Currency of the Fund, as at the date of investment, of under US$5 billion. 2. Sub-Funds investing in China The investment objective and policy of the Aberdeen Global Asian Local Currency Short Duration Bond Fund has been clarified to state that where investments may be made in Debt and Debt Related Securities listed on PRC stock exchanges or traded on other PRC markets, including the China Interbank Bond Market, they may be made through available QFII and RQFII quotas or by any other available means. In addition, the following specific risk factor has been added to the Aberdeen Global Asia Pacific Equity Fund, Aberdeen Global Asian Property Share Fund, Aberdeen Global Asian Smaller Companies Fund, Aberdeen Global Emerging Markets Equity Fund, Aberdeen Global Emerging Markets Infrastructure Equity Fund, Aberdeen Global Emerging Markets Smaller Companies Fund and the Aberdeen Global - Emerging Markets Local Currency Bond Fund: The Fund may invest in China potential investors should note the "Investing in China" section of the "General Risk Factors" and the "Taxation of Chinese Equity and Bonds" section under "Taxation". Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

27 The maximum and current levels of fees and expenses (including the effective Operating, Administrative and Servicing Expenses) applicable to Aberdeen Global and its sub-funds as described in the HKSP will not change as result of the changes mentioned above. Shareholders affected by the changes mentioned in paragraph 1 above who feel that the aforementioned changes no longer meet their investment requirements may request redemption or switching of their shares, free of any applicable redemption and/or subscription charges, until 17:00 hours Hong Kong time on 22 July Insertion of a new section CONFIDENTIALITY AND DATA PROTECTION Shareholders are informed that a new section "CONFIDENTIALITY AND DATA PROTECTION" will be included in the HKSP regarding the rules applicable to the processing and disclosure of their Information (as defined in the updated HKSP) (including personal data). This section will set out, without limitation, details of permitted processing and disclosure of the Information (notably to service providers, governmental, tax and court authorities) and data transfers to parties based in countries outside of the European Economic Area (the EEA ) in jurisdictions where confidentiality and personal data protection laws might not exist or be of a lower standard than in the EEA. Shareholders should be aware that their Information will notably be disclosed to service providers and tax authorities in Luxembourg, the U.S. or other countries in which they are tax residents for reporting under the FATCA Law or the CRS Law, as defined in the HKSP). Shareholders are informed that, as result of investing in shares in Aberdeen Global, they are waiving confidentiality and agree to the processing of personal data protection as further disclosed in the updated HKSP for so long as they are invested in Aberdeen Global to the maximum extent permitted under applicable laws. Shareholders should be aware that to the extent that Information provided by investors include personal data about their representatives (such as directors, controlling persons, authorised signatories or employees) and beneficial owners (together the "Data Subjects"), it is assumed that they agree to secure the prior consent of the Data Subjects to the processing and disclosure of their personal data including the transfer of their personal data to parties based in countries outside of the EEA where confidentiality and personal data protection laws might not exist or be of a lower standard than in the EEA. Data Subjects may request access to, rectification of or deletion of any of their personal data in accordance with applicable personal data protection legislation as further disclosed in the updated HKSP. Shareholders may also revoke their waiver or agreement but such revocation may lead the key service providers to be unable to properly handle their accounts. Moreover, where Shareholders fail to provide the required Information, this may prevent Aberdeen Global Services S.A. from maintaining their investment in Aberdeen Global and may be reported by Aberdeen Global Services S.A. to the relevant Luxembourg authorities to the extent permitted under applicable laws. ADMINISTRATIVE CHANGES The HKSP will also be updated for factual information as well as certain clarifications, including but not limited to the following. The HKSP will be amended in order to reflect the new requirements applying to the Custodian of Aberdeen Global and information regarding the remuneration policy of the management 2

28 company in compliance with Directive 2014/91/EU of 23 July 2014 on UCITS as regards depositary functions, remuneration policies and sanctions. It will be clarified in the HKSP that the maximum settlement periods for the payment of dealing proceeds do not include non-dealing Days (as defined in the HKSP). Hong Kong Summary Prospectus The changes detailed in this letter, where applicable, will be reflected in a new HKSP of Aberdeen Global in due course. Your Board of Directors accepts responsibility for the accuracy of the information contained in this letter. To the best of the knowledge and belief of your Board of Directors (who have taken reasonable care to ensure this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the importance of such information. If you have any questions or would like any further information please contact us at our registered office or in the case of Hong Kong Shareholders, at Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong, Tel Your Board of Directors believes that the changes are fair and reasonable and are in the best interests of shareholders. Yours faithfully, Soraya Hashimzai For and on behalf of the Board of Directors Aberdeen Global 3

29 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE 10 June 2016 Notice to the shareholders of Aberdeen Global Select Emerging Markets Bond Fund Dear Shareholder, Notice is hereby given to you as a shareholder of Aberdeen Global Select Emerging Markets Bond Fund (the Fund ), of the decision of the board of directors (the Board of Directors ) of Aberdeen Global (the Company ) to merge Select Global Sovereign Bond Fund a sub-fund of Select International Funds Public Limited Company, an umbrella UCITS fund with segregated liability between sub-funds domiciled in Ireland with authorisation granted by the Central Bank of Ireland (the Merging Fund ), by way of merger by amalgamation, into the Fund (the Merger ) on Friday 22 July 2016 (the Effective Date ). Select Global Sovereign Bond Fund and Select International Funds Public Limited Company are not authorised by the Securities and Futures Commission and are not available to investors in Hong Kong. The Merger will be effected in accordance with the provisions of articles 2.1(p)(iii) and 37 to 45 of Directive 2009/65/EC of the European Parliament and Council of 13 July 2009, as amended, as implemented into Luxembourg legislation by article 1(20) c) and articles 65 to 76 of the Luxembourg law of 17 December 2010 on undertakings for collective investment, as amended, and into Irish legislation by section 3(1) and sections 55 to 66 of the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended. The shareholders of the Merging Fund 1 who participate in the Merger will receive in exchange for their shares, shares in the Fund of the following classes: Class A-1 (EUR) shares (ISIN: LU ) and Class A-1 (GBP) shares (ISIN: LU ). 1) Background to and rationale for the Merger The Merger is part of a rationalisation of the range of Aberdeen-managed funds that is being undertaken with the aim of generating efficiencies in the management and marketing of products. This includes merging funds that pursue similar investment strategies. Aberdeen pursues the optimisation of its product range by regularly reviewing the existing 1 The Merging Fund is not authorised by the Securities and Futures Commission and is not available to investors in Hong Kong. Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

30 product ranges according to investment strategy, fund size, economies of scale and cost efficiency. The Merger aims to consolidate the assets under management and render the products more commercially viable. 2) Impact on the Fund The Fund will continue to be managed according to its current investment objective and policy after the Merger. The Fund's investment portfolio will not need to be rebalanced before or after the Merger. In addition, since an income equalisation policy is operated in respect of the Fund, any income accruing to existing shareholders will not be diluted as a result of the Merger. Consequently, the Board of Directors does not anticipate any material impact on the Fund's investment portfolio or performance as a result of the Merger. 3) Impact on the dealing and valuation times In order to facilitate the Merger and minimise the risk of an operation error which may arise due to the Merger, the Board of Directors, in accordance with Article 21 of the articles of incorporation of the Company and in consultation with BNP Paribas Securities Services, Luxembourg branch, the custodian of the Fund, has decided to suspend calculation of the net asset value and thus dealing in the Fund on the Effective Date, Friday 22 July During the suspension period the Fund will continue to accept redemption requests, which will be dealt with immediately upon resumption of dealing. Shareholders should note that any subscription, redemption or conversion applications for Shares in the Fund received after 17:00 (Hong Kong time) on Thursday 21 July 2016 will be priced as at Monday 25 July The Board of Directors believes that such a suspension is in the best interests of shareholders of the Fund. 4) Expenses and costs All costs of implementing the Merger, including the costs of convening and holding the meeting of shareholders of the Merging Fund and preparing associated documentation, will be paid by Aberdeen. 5) What to do next IF YOU WISH TO CONTINUE TO INVEST IN ABERDEEN GLOBAL THROUGH THE FUND, YOU DO NOT NEED TO TAKE ANY FURTHER ACTION. Shareholders of the Fund have the right to redeem their shares free of charge until 17:00 (Hong Kong time) on Thursday 21 July Shareholders may obtain copies of the auditor s report relating to the Merger and the common terms of merger agreed between the Company and Select International Funds Public Limited Company free of charge from the registered office of the Company. 2

31 The Board of Directors accepts responsibility for the accuracy of the information contained in this letter. To the best of the knowledge and belief of the Board of Directors (who have taken reasonable care to ensure this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the importance of such information. If you have any questions or would like any further information please contact us at our registered office or in the case of Hong Kong Shareholders, at Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong. Alternatively, please call one of the following helplines: Europe (excluding UK) and rest of the world: UK: +44 (0) Asia: Yours faithfully Soraya Hashimzai For and on behalf of the Board of Directors of Aberdeen Global on behalf of Aberdeen Global Select Emerging Markets Bond Fund 3

32 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF IN DOUBT, PLEASE SEEK PROFESSIONAL ADVICE 10 June 2016 Notice to the shareholders of Aberdeen Global Select Euro High Yield Bond Fund Dear Shareholder, Notice is hereby given to you as a shareholder of Aberdeen Global Select Euro High Yield Bond Fund (the Fund ), of the decision of the board of directors (the Board of Directors ) of Aberdeen Global (the Company ) to merge Select International Bond Fund, a sub-fund of Select International Funds Public Limited Company, an umbrella UCITS fund with segregated liability between sub-funds domiciled in Ireland with authorisation granted by the Central Bank of Ireland (the Merging Fund ), by way of merger by amalgamation, into the Fund (the Merger ) on Friday 22 July 2016 (the Effective Date ). Select International Bond Fund and Select International Funds Public Limited Company are not authorised by the Securities and Futures Commission and are not available to investors in Hong Kong. The Merger will be effected in accordance with the provisions of articles 2.1(p)(iii) and 37 to 45 of Directive 2009/65/EC of the European Parliament and Council of 13 July 2009, as amended, as implemented into Luxembourg legislation by article 1(20) c) and articles 65 to 76 of the Luxembourg law of 17 December 2010 on undertakings for collective investment, as amended, and into Irish legislation by section 3(1) and sections 55 to 66 of the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended. The shareholders of the Merging Fund 1 who participate in the Merger will receive in exchange for their shares, shares in the Fund of the following classes: Class A-1 shares (ISIN: LU ) and Class A-1 (GBP) shares (ISIN: LU ). 1) Background to and rationale for the Merger The Merger is part of a rationalisation of the range of Aberdeen-managed funds that is being undertaken with the aim of generating efficiencies in the management and marketing 1 The Merging Fund is not authorised by the Securities and Futures Commission and is not available to investors in Hong Kong. Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

33 of products. This includes merging funds that pursue similar investment strategies. Aberdeen pursues the optimisation of its product range by regularly reviewing the existing product ranges according to investment strategy, fund size, economies of scale and cost efficiency. The Merger aims to consolidate the assets under management and render the products more commercially viable. 2) Impact on the Fund The Fund will continue to be managed according to its current investment objective and policy after the Merger. The Fund's investment portfolio will not need to be rebalanced before or after the Merger. In addition, since an income equalisation policy is operated in respect of the Fund, any income accruing to existing shareholders will not be diluted as a result of the Merger. Consequently, the Board of Directors does not anticipate any material impact on the Fund's investment portfolio or performance as a result of the Merger. 3) Impact on the dealing and valuation times In order to facilitate the Merger and minimise the risk of an operation error which may arise due to the Merger, the Board of Directors, in accordance with Article 21 of the articles of incorporation of the Company and in consultation with BNP Paribas Securities Services, Luxembourg branch, the custodian of the Fund, has decided to suspend calculation of the net asset value and thus dealing in the shares of the Fund on the Effective Date, Friday 22 July During the suspension period the Fund will continue to accept redemption requests, which will be dealt with immediately upon resumption of dealing. Shareholders should note that any subscription, redemption or conversion applications for Shares in the Fund received after 17:00 (Hong Kong time) on Thursday 21 July 2016 will be priced as at Monday 25 July The Board of Directors believes that such a suspension is in the best interests of shareholders of the Fund. 4) Expenses and costs All costs of implementing the Merger, including the costs of convening and holding the meeting of shareholders of the Merging Fund and preparing associated documentation, will be paid by Aberdeen. 5) What to do next IF YOU WISH TO CONTINUE TO INVEST IN ABERDEEN GLOBAL THROUGH THE FUND, YOU DO NOT NEED TO TAKE ANY FURTHER ACTION. 2

34 Shareholders of the Fund have the right to redeem their shares free of charge until 17:00 (Hong Kong time) on Thursday 21 July Shareholders may obtain copies of the auditor s report relating to the Merger and the common terms of merger agreed between the Company and Select International Funds Public Limited Company free of charge from the registered office of the Company. The Board of Directors accepts responsibility for the accuracy of the information contained in this letter. To the best of the knowledge and belief of the Board of Directors (who have taken reasonable care to ensure this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the importance of such information. If you have any questions or would like any further information please contact us at our registered office or in the case of Hong Kong Shareholders, at Aberdeen International Fund Managers Limited whose office is at Suites 1601 and , Chater House, 8 Connaught Road Central, Hong Kong. Alternatively, please call one of the following helplines: Europe (excluding UK) and rest of the world: UK: +44 (0) Asia: Yours faithfully Soraya Hashimzai For and on behalf of the Board of Directors of Aberdeen Global on behalf of Aberdeen Global Select Euro High Yield Bond Fund 3

35 ABERDEEN GLOBAL Registered Office: 35a, avenue John F. Kennedy L-1855 Luxembourg, Grand Duchy of Luxembourg (Registre de Commerce No B ) SUMMARY PROSPECTUS This Summary Prospectus is the offering document for Aberdeen Global in Hong Kong. If you are in any doubt about the contents of this document or any of the documents accompanying it, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case) the information contained in this Summary Prospectus is in accordance with the facts and does not omit anything material to such information. Accordingly, the Directors of Aberdeen Global accept responsibility for the information contained in this Summary Prospectus. Aberdeen Global was incorporated in Luxembourg on 25 February 1988 as a société anonyme under the laws of the Grand Duchy of Luxembourg and qualifies as an open-ended société d investissement à capital variable (a SICAV ) with UCITS status. Aberdeen Global is authorised as an undertaking for collective investment in transferable securities under Part I of the Law (the "Law"). Aberdeen Global has been authorised under the Securities and Futures Ordinance in Hong Kong. The SFC s authorisation is not a recommendation or endorsement of Aberdeen Global nor does it guarantee the commercial merits of Aberdeen Global or its performance. It does not mean Aberdeen Global is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. To the best of the knowledge and belief of the Directors as at the date hereof, there is a reasonable basis to formulate the Investor Profile section under each Fund and the information contained therein is not biased or misleading. The Investor Profile section under each Fund is provided for reference purposes only. Investors should consider their own specific circumstances, including (without limitation) financial situation, investment experience, investment objectives, and, risk tolerance level before making any investment decisions. If you have any doubt about the information set out in the Investor Profile section, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser. Aberdeen Global draws the investors attention to the fact that any investor will only be able to fully exercise his investor rights directly against Aberdeen Global, notably the right to participate in General Meetings of Shareholders if the investor is registered himself and in his own name in the register of Shareholder of Aberdeen Global. In cases where an investor invests in Aberdeen Global through an intermediary investing into Aberdeen Global in his own name but on behalf of the investor, it may not always be possible for the investor to exercise certain shareholder rights directly against Aberdeen Global. Investors are advised to take advice on their rights. Date: April 2016

36 GLOSSARY This glossary is intended to help readers who may be unfamiliar with the terms used in this Summary Prospectus. Application Form Articles of Incorporation Associate Balkan Countries Base Currency Board of Directors/Board Business Day CEMBI CEMBI Emerging Market* China A-Shares The application form available from the Global Distributor. The articles of incorporation of Aberdeen Global. A company within the Aberdeen Asset Management PLC group of companies. Those countries which were formerly part of the Federal Republic of Yugoslavia (namely, Bosnia and Herzegovina, Croatia, Kosovo, Macedonia, Montenegro, Serbia and Slovenia) and Albania. In relation to a Fund means the base currency for the relevant Fund detailed under Fund Information. The board of directors of Aberdeen Global. A day on which banks in Luxembourg are open for business (24 December is not a Business Day). The JP Morgan Corporate Emerging Markets Bond Index. Any Emerging Market and any country that is included in the CEMBI Broad Diversified Index (or any successor index, if revised). *This definition applies to Aberdeen Global Emerging Markets Corporate Bond Fund. Mainland China's domestic shares listed on the Chinese Stock Exchanges, which are available to Mainland China's domestic investors, QFII and RQFII, and quoted in RMB. China B-Shares Chinese Stock Exchanges CIS Class(es) of Shares/Share Class(es)/ Classes Connected Person CSDCC CSRC CSSF Mainland China's domestic shares listed and traded in foreign currencies on the Chinese Stock Exchanges, which are available to Mainland China's domestic investors, QFII and RQFII. Mainland China's domestic stock exchanges comprising the Shanghai and Shenzhen Stock Exchanges, or their successors. A free association of former Soviet republics in the Soviet Union prior to its dissolution in December The original member states include: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan. Georgia, originally a member, withdrew from the association in 2009 but is included in the group for the purposes of this Summary Prospectus. Pursuant to the Articles of Incorporation, the Board of Directors may decide to issue, within each Fund, separate classes of Shares (hereinafter referred to as a Share Class or Class of Shares or Class, as appropriate) whose assets will be commonly invested but where a specific initial or redemption charge structure, fee structure, minimum subscription amount, currency, dividend policy or other feature may be applied. A person or corporation related by common ownership as more fully defined in Article 16 of the Articles of Incorporation. The China Securities Depositary and Clearing Corporation Limited The China Securities Regulatory Commission Commission de Surveillance du Secteur Financier or its successor

37 Dealing Day Debt and Debt-Related Securities With respect to any Fund, any Business Day other than, days during a period of suspension of dealing in Shares in that Fund or, days (as determined by the Board in its discretion) on which any exchange or market on which a substantial portion of the relevant Fund s portfolio is traded, is closed. The Business Days which are not Dealing Days will be available at the registered office of Aberdeen Global and at If such Dealing Days are not a Business Day in Luxembourg, the Dealing Day will be the Business Day immediately following such day. Includes but is not limited to convertible and non-convertible corporate and non-corporate debt securities, preferred securities, privately placed securities (which are securities sold directly in a negotiated sale to institutional or private investors rather than a public offering such as privately placed bonds), fixed and floating rate bonds, zero-coupon and discount bonds, debentures, notes, certificates of deposit, banker s acceptances, bills of exchange, commercial paper, treasury bills, asset-backed securities and mortgage-backed securities. Directive 2009/65/EC Directive 2009/65/EC on the coordination of laws, regulations and administrative provision relating to undertakings for collective investment in transferable securities, as may be amended. Directors Eastern Europe Eligible Market Eligible State Emerging Market EU Euro European Savings Tax Directive Fund Institutional Investor Investment Amount Investment Grade Latin America Law Member State Members of the Board. The states of Central and Eastern Europe, including Russia, Turkey, the CIS and Balkan Countries. A stock exchange or Regulated Market in one of the Eligible States. Any Member State of the EU or any other state in Eastern and Western Europe, Asia, Africa, Australia, North America, South America and Oceania. Any country that is included in the MSCI Emerging Markets Index or composite thereof (or any successor index, if revised), or any country classified by the World Bank as a low to upper middle income country. European Union All references to Euro and are to the currency introduced at the third stage of economic union pursuant to the Treaty establishing the European Union. Council Directive 2003/48/EC on the taxation of savings income in the form of interest payments, as amended from time to time. A sub-fund of Aberdeen Global. An institutional investor within the meaning of the Law. The amount submitted by or on behalf of an investor for investment in any of the Funds and out of which any initial or other charges will be paid prior to investment. Having a rating of at least BBB- by Standard & Poor s or at least Baa3 by Moody s Investor Services or at least BBB- by Fitch Ratings, or be considered equivalent by the Investment Manager using similar credit criteria at the time of purchase. In the case of split ratings, the highest rating can be used. Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, French Guyana, Guatemala, Guyana, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Suriname, Uruguay and Venezuela. The Luxembourg law of 17 December 2010 on undertakings for collective investment, as amended. A member state as defined in the Law

38 Money Market Instruments Net Asset Value Operating, Administrative and Servicing Expenses Other UCIs PRC PRC Custodian QFII Regulated Market REITs Repurchase Transactions RMB RQFII RQFII Eligible Securities Instruments normally dealt in on the money market which are liquid, and have a value which can be accurately determined at any time. In relation to any Class of Shares in a Fund, the value of the net assets of that Fund attributable to that Class and calculated in accordance with the provisions described in Section 1 of Appendix B. The fixed ordinary operating expenses referred to in the section Operating Administrative and Servicing Expenses under Charges and Expenses. An undertaking for collective investment which has as its sole object the collective investment in transferable securities and/or other liquid financial assets of capital raised from the public and which operates on the principle of risk spreading and the units/shares of which are at the request of holders repurchased or redeemed directly or indirectly out of those undertakings' assets provided that action taken to ensure that the stock exchange value of such units/shares does not significantly vary shall be regarded as equivalent to such repurchase or redemption. People s Republic of China Citibank (China) Co., Ltd Qualified Foreign Institutional Investor, as defined under laws and regulations governing the establishment and operation of the qualified foreign institutional investors regime in the PRC. A regulated market as defined in the directive 2004/39/EC of 21 April 2004 on markets in financial instruments (Directive 2004/39/EC), namely a market which appears on the list of the regulated markets drawn up by each Member State, which functions regularly, is characterized by the fact that regulations issued or approved by the competent authorities define the conditions for the operation of the market, the conditions for access to the market and the conditions that must be satisfied by a financial instrument before it can effectively be dealt in on the market, requiring compliance with all the reporting and transparency requirements laid down by the Directive 2004/39/EC and any other market which is regulated, operates regularly and is recognised and open to the public in an Eligible State. A Real Estate Investment Trust which is an entity that buys and manages shares in a real estate portfolio or direct real estate. This may include, but is not limited to, investing in residential apartments, retail shopping centres and commercial office buildings, as well as real estate development. A REIT may be closed-ended with its shares listed on a Regulated Market, which thereby qualifies it as an eligible investment for a UCITS under Luxembourg law. Other REITs may be open-ended or closed-ended and not listed on a Regulated Market, thereby limiting a UCITS investment in such entities to 10% of the net assets of a Fund (taken together with any other investments in Transferable Securities and Money Market Instruments not provided for under Section I of Appendix A). Financial instruments used in securities and money markets as further described in the section Investment Techniques and Instruments and Use of Financial Derivative Instruments in Appendix A. All references to Renminbi or RMB are to the currency of the People's Republic of China. Renminbi Qualified Foreign Institutional Investor, as defined by the China Securities Regulatory Commission under the RQFII Regulations. Securities and investments permitted to be held or made by a RQFII under the RQFII Regulations

39 RQFII Regulations SAFE SFC Share Shareholder Share Price Sterling Sub-Investment Grade Subsidiary Swiss Franc Transferable Securities UCITS UK US Dollars US Person Yen The laws and regulations governing the establishment and operation of the Renminbi qualified foreign institutional investors regime in the PRC, as may be promulgated and/or amended from time to time. The PRC State Administration of Foreign Exchange. Securities and Futures Commission or its successor. Any share of any Class of a Fund. Any person holding Shares of a Fund. The price of a Share in any one of the Funds, this price being the Net Asset Value of that Share Class divided by the number of Shares in issue in that Class, adjusted and calculated as described in Section 2 of Appendix B. All references to Sterling, and pounds are to the pound Sterling, the currency of the United Kingdom. Having a rating which is below Investment Grade. Aberdeen Global Indian Equity Limited All references to Swiss Franc and CHF are to the Swiss Franc, the currency of Switzerland. Shares and other securities equivalent to shares, Debt and Debt-Related Securities and any other negotiable securities which carry the right to acquire any such transferable securities by subscription or exchange referred to in article 41 of the Law, excluding the techniques and instruments referred to in article 42 of the Law. An Undertaking for Collective Investment in Transferable Securities. The United Kingdom. All references to US Dollars and US$ are to the United States Dollar, the currency of the United States of America. means a national or resident of the United States or any of its states, territories, possessions or areas, subject to its jurisdiction (the United States ) and any partnership, corporation or other entity organised or created under the laws of the United States or of any political subdivision thereof. All references to Yen and are to the Japanese Yen, the currency of Japan

40 SUMMARY This Summary Prospectus relates to the offering of separate Classes of Shares of no par value of Aberdeen Global. Shares are issued fully paid with respect to one of the Funds described under Fund Information, on the terms and conditions outlined in this Summary Prospectus. The base currency of each Share Class is the same as the Base Currency of the underlying Fund unless otherwise detailed in Appendix D. As at the date of this Summary Prospectus, Shares of the following Funds are being offered in Hong Kong in the following Classes: Fund Share Class(es) Aberdeen Global - Asia Pacific Equity Fund Class A-2 Class A-2 Base Currency Exposure EUR Sterling Class D-2 Euro Class E-2 Institutional Class I-2 Institutional Class I-2 Base Currency Exposure EUR Aberdeen Global - Asian Local Currency Short Duration Bond Fund Class A-1 Class A-2 Class A-2 Base Currency Exposure EUR Institutional Class I-1 Institutional Class I-1 Base Currency Exposure GBP Institutional Class I-2 Institutional Class I-2 Base Currency Exposure EUR Aberdeen Global - Asian Property Share Fund 1 Class A-2 Class A-2 Base Currency Exposure EUR Institutional Class I-2 Aberdeen Global - Asian Smaller Companies Fund Class A-2 Sterling Class D-2 Institutional Class I-2 Institutional Class Z-2 Base Currency Exposure EUR Aberdeen Global - Australasian Equity Fund Class A-2 Aberdeen Global - Brazil Bond Fund Class A-1 Class A-2 Institutional Class I-2 Aberdeen Global - Brazil Equity Fund Class A-2 Institutional Class I-2 Aberdeen Global - Chinese Equity Fund Class A-2 Class A-2 Base Currency Exposure EUR Sterling Class D-2 Institutional Class I-2 Aberdeen Global - Eastern European Equity Fund Class A-2 Institutional Class I-2 1 Aberdeen Global - Asian Property Share Fund is authorised under the SFC Code on Unit Trusts and Mutual Funds but not under the Code on Real Estate Investment Trusts. The SFC s authorisation is not a recommendation or endorsement of the Fund nor does it guarantee the commercial merits of the Fund or its performance. It does not mean the Fund is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors

41 Fund Share Class(es) Aberdeen Global - Emerging Markets Corporate Bond Fund Class A-1 Class A-2 Class A-2 Base Currency Exposure EUR Institutional Class I-2 Institutional Class I-2 Base Currency Exposure EUR Aberdeen Global - Emerging Markets Equity Fund Class A-2 Sterling Class D-2 Euro Class E-2 Institutional Class I-2 Aberdeen Global - Emerging Markets Infrastructure Equity Fund Class A-2 Class A-2 Base Currency Exposure EUR Institutional Class I-2 Institutional Class I-2 Base Currency Exposure EUR Class S-2 Base Currency Exposure EUR Aberdeen Global - Emerging Markets Local Currency Bond Fund Class A-1 Class A-2 Class A-2 Base Currency Exposure EUR Institutional Class I-2 Aberdeen Global - Emerging Markets Smaller Companies Fund Class A-2 Sterling Class D-2 Institutional Class I-2 Aberdeen Global - European Equity (Ex UK) Fund Class A-2 Sterling Class D-2 Aberdeen Global - European Equity Fund Class A-2 Institutional Class I-2 Class U-2 Aberdeen Global - European Equity Dividend Fund Class A-1 Class A-2 Class A-2 Base Currency Exposure USD Institutional Class I-2 Aberdeen Global - Indian Equity Fund Class A-2 Sterling Class D-2 Institutional Class I-2 Aberdeen Global - Japanese Equity Fund Class A-2 Class A-2 Base Currency Exposure EUR Class A-2 Base Currency Exposure USD Sterling Class D-2 Institutional Class I-2 Institutional Class I-2 Base Currency Exposure USD Class S-2 Base Currency Exposure EUR Class U-2 Aberdeen Global - Japanese Smaller Companies Fund Class A-2 Class A-2 Base Currency Exposure EUR Class A-2 Base Currency Exposure USD Sterling Class D-2 Institutional Class I-2 Institutional Class I-2 Base Currency Exposure EUR Aberdeen Global - Latin American Equity Fund Class A-2 Class A-2 Base Currency Exposure EUR Institutional Class I-2-7 -

42 Fund Share Class(es) Aberdeen Global - North American Equity Fund Class A-2 Sterling Class D-2 Aberdeen Global - North American Smaller Companies Fund Class A-2 Institutional Class I-2 Aberdeen Global - Responsible World Equity Fund Class A-2 Institutional Class I-2 Aberdeen Global - Russian Equity Fund Class A-2 Institutional Class I-2 Aberdeen Global - Select Emerging Markets Bond Fund Class A-1 Class A-1 Base Currency Exposure EUR Class A-2 Class A-2 Base Currency Exposure EUR Institutional Class I-1 Institutional Class I-1 Base Currency Exposure EUR Institutional Class I-2 Institutional Class Z-2 Base Currency Exposure EUR Aberdeen Global - Select Euro High Yield Bond Fund Class A-1 Class A-1 Base Currency Exposure GBP Class A-1 Base Currency Exposure USD Class A-2 Class A-2 Base Currency Exposure GBP Class A-2 Base Currency Exposure USD Sterling Class D-1 Sterling Class D-2 Base Currency Exposure GBP Institutional Class I-1 Base Currency Exposure USD Aberdeen Global - Select Global Credit Bond Fund Aberdeen Global - Select High Yield Bond Fund Sterling Class D-1 Aberdeen Global - Technology Equity Fund Class A-2 Sterling Class D-2 Aberdeen Global - UK Equity Fund Class A-2 Sterling Class D-1 Aberdeen Global - World Equity Fund Class A-2 Sterling Class D-2 Institutional Class I-2 Class A-2 Base Currency Exposure USD Sterling Class D-1 Sterling Class D-1 Base Currency Exposure USD Sterling Class D-2 Aberdeen Global - World Resources Equity Fund Class A-2 Class A-2 Base Currency Exposure EUR Institutional Class I-2 Class S-2 Base Currency Exposure EUR Aberdeen Global - World Smaller Companies Fund Class A-2 Institutional Class I-2 All Classes of Shares of all the Funds that are in issue may be listed on the Luxembourg Stock Exchange. Up to date Fund and Share Class information can be found at 2 or is available from the registered office of Aberdeen Global or the Transfer Agent. 2 The website has not been reviewed by the SFC and may contain information of funds not authorised by the SFC

43 THE ABERDEEN ORGANISATION Aberdeen Asset Management PLC, a company listed on the London Stock Exchange, is the holding company of a fund management group ( the Aberdeen Group ) with offices in Europe, the United States of America and Asia. Aberdeen International Fund Managers Limited is regulated by the Hong Kong Securities and Futures Commission. Aberdeen Asset Managers Limited is regulated and authorised by the Financial Conduct Authority in the United Kingdom. Aberdeen Asset Management Asia Limited is regulated by the Monetary Authority of Singapore. Aberdeen Asset Management Inc. is regulated by the United States Securities and Exchange Commission. The share capital of Aberdeen International Fund Managers Limited is held by Aberdeen Asset Management PLC and Aberdeen Asset Management Asia Limited. Aberdeen Asset Managers Limited, Aberdeen Asset Management Asia Limited and Aberdeen Asset Management Inc. are all wholly owned subsidiaries of Aberdeen Asset Management PLC. The share capital of Aberdeen Global Services S.A. is held by Aberdeen International Fund Managers Limited, Aberdeen Asset Managers Limited and Aberdeen Asset Management PLC. As at 31 December 2015, the Aberdeen Group managed in excess of 290 billion. BOARD OF DIRECTORS OF ABERDEEN GLOBAL The Directors of Aberdeen Global are responsible for the management and administration of Aberdeen Global and for its overall investment policy. Lynn Birdsong Martin Gilbert Soraya Hashimzai Bob Hutcheson Christopher Little Ian Macdonald was managing director of Zurich Scudder Investments where he worked from 1979 to He is a Chartered Financial Analyst and has an MBA from Pace University, New York. He is an independent director of The Nomura Partner s Funds and The Hartford Funds and a trustee of the Natural History Museum of the Adirondacks in the United States and was formerly a director of the Sovereign High Yield Investment Company. was founding director of Aberdeen Asset Management PLC in 1983 and has been Chief Executive since He holds a Master s degree in Accountancy and Bachelor s degree in Law from Aberdeen University, and is a qualified Chartered Accountant. He is also Chairman of Aberdeen s principal subsidiaries. He is a director of the Investment Manager and sits on the boards of several investment trusts and closed end funds. He is also a non-executive director of British Sky Broadcasting Group plc and a member of the Scottish Government s Financial Services Advisory Board, the UK Treasury s Financial Services Trade and Investment Board, the Prudential Regulation Authority's Practitioner Panel, the Monetary Authority of Singapore s International Advisory Panel and the International Advisory Board of British American Business. He is Adjunct Professor of Finance at Imperial College Business School. is a Conducting Officer of the Management Company, responsible for the effective operation of the services provided to Aberdeen s Luxembourg domiciled UCITS. She joined Aberdeen Asset Management in April 2010 and also holds the role of Head of Legal Product Development and Management for the Aberdeen Group. She has been admitted as a Solicitor in England and Wales specialising in corporate and funds law since was a partner with KPMG, Accountants from 1980 to He is currently Chairman at Bancon Developments Holdings Limited (construction and house building), non-executive at North Banchory Company Limited (property development), Imes Group Holdings Limited (inspection), Water Weights Group (load measurement) and UCAN (cancer charity). formed Century Group Limited in He was Chief Executive Officer of Century Group and of its principal subsidiary, Century Life PLC. He has held several non executive directorships and is currently a director of Aberdeen Asset Management Life and Pensions Limited and Abbey Life Assurance Company Limited. is a director of Aberdeen Asset Management Asia Limited, working closely with Hugh Young to support the continued development of Aberdeen s business in the Asia-Pacific. He qualified as a chartered accountant in 1998 with Price Waterhouse in London before joining Lazard as an M&A investment banker. In 2005 he moved to Hong Kong to head HSBC s Asia-Pacific private equity coverage team. Since 2008 he has been based in Singapore and was formerly the Chief Executive Officer of the boutique fund management firm, Arisaig Partners. He attained a first class undergraduate degree in Ancient History from the University of London and is an alumnus of both IMD (PED) and Harvard Business School (AMP)

44 Gary Marshall Ronaldo da Frota Nogueira is currently Group Head of Product for Aberdeen, overseeing product opportunities, development and governance. His previous roles for Aberdeen include Head of Americas and Chief Executive of Scottish Widows Investment Partnership (now Aberdeen Asset Investments Limited). He holds a B.Sc. in Actuarial Mathematics and Statistics from Heriot Watt University and is a fellow of the Faculty of Actuaries. He joined the Aberdeen Group when it acquired Prolific Financial Management in has been director and Chief Executive Officer of financial publishing company IMF Editora Ltda. since He was previously a founder and director of the Association of Certified International Investment Analysts, the Brazilian Association of Investment Professionals and the Brazilian Capital Markets Institute. He was also formerly a director of the Sovereign High Yield Investment Company. David van der Stoep was a founding shareholder and Managing Director of Staten Bank Holland NV in The Hague from 1976 to 1989 and was the President of AR Group Limited, in Monaco, for over 20 years, where he was involved in corporate and mining finance. He has been involved in the retirement and investment sector in Cape Town for the past 12 years. Hugh Young is a director of Aberdeen Asset Management PLC and Managing Director of the Group's Asian business. He has overall responsibility for the Group s active equity, fixed income and property capabilities. He joined Aberdeen in 1985 to manage Asian equities from London, having previously held posts at Fidelity International and MGM Assurance. He founded Singapore-based Aberdeen Asia in He is also a director of the Investment Manager and a number of investment trusts, and of the Management Company. He graduated with a BA (Hons) in politics from Exeter University

45 BOARD OF DIRECTORS OF ABERDEEN GLOBAL SERVICES S.A. Andreia Camara is a Conducting Officer and Senior Risk Manager for the Management Company, responsible for risk management of Aberdeen s Luxembourg domiciled AIFs. Andreia joined Aberdeen in 2013 after 12 years in the Real Estate audit and advisory practice at Ernst & Young. Andreia has a degree from the University of Minho in Portugal in Business Management, a Post Graduate in Tax law and Finance from the University of Economics of Oporto and a Luxembourg CPA. Michael Determann Neil Dolby Soraya Hashimzai Alan Hawthorn Paul King Gary Marshall Hugh Young holds the role of Company Secretary Aberdeen Global at Aberdeen Asset Management, and is also a director of Aberdeen Asset Management Deutschland AG. He began his career in 1983 with the Allianz Group fixed income investment department before being responsible for industrial shareholdings of Allianz Group. He subsequently became the Head of Investments for Allianz Austria in Vienna in In 2003 he joined DEGI Deutsche Gesellschaft für Immobilienfonds mbh (now Aberdeen Asset Management Deutschland AG) as Managing Director. He holds a degree in law from Tübingen University and previously was a practicing lawyer specialising in civil law. is head of alternative operations and leads the team responsible for providing the full range of specialist operational services to support the different multi-manager alternative investment product ranges. He joined Aberdeen in 2010 via the acquisition of the various asset management businesses from RBS where he was chief operating officer of RBS Asset Management Ltd and responsible for the operational and functional areas of the multi-manager, fund of hedge funds and long-only business. Prior to that, Neil worked for NatWest Group and his career included, head of product risk and head of corporate governance in Coutts Group; head of tax advisory, trust & pension services in Coutts & Co and senior executive of NatWest Wealth Management. Neil graduated with a BA in Economics and Econometrics from Nottingham University. is a Conducting Officer of the Management Company, responsible for the effective operation of the services provided to Aberdeen s Luxembourg domiciled UCITS. She joined Aberdeen Asset Management in April 2010 and also holds the role of Head of Legal Product Development and Management for the Aberdeen Group. She has been admitted as a Solicitor in England and Wales specialising in corporate and funds law since is Global Head of Investor Services and is responsible for all in-house and outsourced transfer agency operations and product management for the Aberdeen Group. He joined Aberdeen in 1996 from Prolific Financial Management where he was an administration manager. He is a Director of a number of subsidiary companies within the Aberdeen Group. He graduated with a BA in Commerce at Napier University. is a Conducting Officer of the Management Company responsible for the effective operation of the services provided to Aberdeen s Luxembourg domiciled AIFs. He Joined Aberdeen in 2014 from Doughty Hanson, where he was the Head of Luxembourg and Director on the Real Estate portfolio since Previously, he worked with State Street AIS and Mourant since 2007 where he held directorships and managed accounting and administrative services in Luxembourg. He holds a Bachelor of Commerce, an MBA and is a CPA. is currently Group Head of Product for Aberdeen, overseeing product opportunities, development and governance. His previous roles for Aberdeen include Head of Americas and Chief Executive of Scottish Widows Investment Partnership (now Aberdeen Asset Investments Limited). He holds a B.Sc. in Actuarial Mathematics and Statistics from Heriot Watt University and is a fellow of the Faculty of Actuaries. He joined the Aberdeen Group when it acquired Prolific Financial Management in is a director of Aberdeen Asset Management PLC and Managing Director of the Group's Asian business. He has overall responsibility for the Group s active equity, fixed income and property capabilities. He joined Aberdeen in 1985 to manage Asian equities from London, having previously held posts at Fidelity International and MGM Assurance. He founded Singapore-based Aberdeen Asia in He is also a director of the Investment Manager and a number of investment trusts, and of the Management Company. He graduated with a BA (Hons) in politics from Exeter University

46 MANAGEMENT AND ADMINISTRATION Copies of this Summary Prospectus and further information can be obtained from Aberdeen Global or from any of the following addresses: Registered Office Management Company, Domiciliary Agent, Registrar, Transfer Agent and Listing Agent For Shareholder Services: Paying Agent Custodian and Administrator Aberdeen Global 35a, avenue John F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Aberdeen Global Services S.A. 35a, avenue John F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Aberdeen Global Services S.A. c/o State Street Bank Luxembourg S.C.A. 49, avenue John. F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Tel: (352) (Shareholders outside UK) Fax: (352) State Street Bank Luxembourg S.C.A. 49, avenue John F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg BNP Paribas Securities Services, Luxembourg Branch 60, avenue John F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Bearer Shares Depositary Global Distributor, Investment Manager and Hong Kong Representative Banque Internationale à Luxembourg S.A. 69, route d'esch L-2953 Luxembourg Grand Duchy of Luxembourg Aberdeen International Fund Managers Limited Suites 1601 and Chater House 8 Connaught Road Central Hong Kong Tel:(852) Fax:(852)

47 Investment Advisers Aberdeen Asset Managers Limited 10 Queens Terrace Aberdeen AB10 1YG United Kingdom Aberdeen Asset Management Asia Limited 21 Church Street #01-01 Capital Square Two Singapore Aberdeen Asset Management Inc. 32nd Floor 1735 Market Street Philadelphia PA Data Processing Agent Aberdeen Asset Managers Limited is authorised and regulated by the Financial Conduct Authority. Aberdeen Asset Managers Limited 10 Queens Terrace Aberdeen AB10 1YG United Kingdom Aberdeen Asset Management Asia Limited is regulated by the Monetary Authority of Singapore. Aberdeen Asset Management Inc. is authorised by the Securities and Exchange Commission of the United States of America. Sub-Data Processing Agents International Financial Data Services (UK) Limited and International Financial Data Services Limited St. Nicholas Lane Basildon United Kingdom SS15 5FS International Financial Data Services (UK) Limited is authorised and regulated by the Financial Conduct Authority Auditors KPMG Luxembourg, Société Coopérative 39, avenue John F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Legal Advisers as to matters of Luxembourg law Elvinger Hoss Prussen 2 Place Winston Churchill L-1340 Luxembourg Grand Duchy of Luxembourg Legal Advisers as to matters of Hong Kong law Deacons 5 th Floor Alexandra House 18 Chater Road Central Hong Kong

48 FUND INFORMATION Aberdeen Global aims to provide investors with a broad international range of diversified actively-managed Funds which, through their specific investment objectives and individual portfolios, offer investors the opportunity of exposure to selected areas or to conveniently build a diversified global stock and bond portfolio to meet individuals investment goals. The overall strategy of Aberdeen Global and the separate Funds is to seek diversification through investment primarily in Transferable Securities. All Funds may hold liquid assets on an ancillary basis. Aberdeen Global has, through the Investment Manager, established a network of Investment Advisers through which it obtains active investment advisory and management services. Our overriding investment philosophy is that we believe that superior investment returns will only be obtained in the long run through a well-defined and disciplined investment process which is consistently applied. The Funds benefit from the depth and interaction of this global investment advisory network and enjoy the advantages of having specialist personnel who have local expertise and timely access to the very latest local market information. The detailed investment powers and restrictions are set out in Appendix A. The following applies to the Funds specified, unless the more detailed investment objectives set out below impose further restrictions on a particular Fund. In such circumstances these additional restrictions shall take precedence over this paragraph. The Fund may hold cash, cash equivalents (such as money market instruments) and interest bearing securities which under normal market conditions will not exceed 15% of the Net Asset Value of the Fund. Investments in markets which are not Regulated Markets shall in aggregate not exceed 10% of the Net Asset Value of the Fund. Aberdeen Global - Asia Pacific Equity Fund Aberdeen Global - Asian Property Share Fund Aberdeen Global - Asian Smaller Companies Fund Aberdeen Global - Australasian Equity Fund Aberdeen Global - Brazil Equity Fund Aberdeen Global - Chinese Equity Fund Aberdeen Global - European Equity Dividend Fund Aberdeen Global - Eastern European Equity Fund Aberdeen Global - Emerging Markets Equity Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund Aberdeen Global - Emerging Markets Smaller Companies Fund Aberdeen Global - European Equity Fund Aberdeen Global - European Equity (Ex UK) Fund Aberdeen Global - Indian Equity Fund Aberdeen Global - Japanese Equity Fund Aberdeen Global - Japanese Smaller Companies Fund Aberdeen Global - Latin American Equity Fund Aberdeen Global - North American Equity Fund Aberdeen Global - North American Smaller Companies Fund Aberdeen Global - Responsible World Equity Fund Aberdeen Global - Russian Equity Fund Aberdeen Global - Technology Equity Fund Aberdeen Global - UK Equity Fund Aberdeen Global - World Equity Fund Aberdeen Global - World Resources Equity Fund Aberdeen Global - World Smaller Companies Fund

49 No more than 10% of the Net Asset Value of the Fund may be invested in equities or equity related securities. Unless otherwise stated in relation to a particular Fund, investors should note that the Investment Manager is under no obligation to sell a holding in a company which no longer qualifies as a Smaller Company (as defined in the relevant Fund s objective) after the date of investment. No more than 10% of the Net Asset Value of the Fund may be invested in contingent convertible securities. Aberdeen Global - Asian Local Currency Short Duration Bond Fund Aberdeen Global - Brazil Bond Fund Aberdeen Global - Emerging Markets Corporate Bond Fund Aberdeen Global - Emerging Markets Local Currency Bond Fund Aberdeen Global - Select Emerging Markets Bond Fund Aberdeen Global - Select Euro High Yield Bond Fund Aberdeen Global - Select High Yield Bond Fund Aberdeen Global - Select Global Credit Bond Fund Aberdeen Global - Asian Smaller Companies Fund Aberdeen Global - Emerging Markets Smaller Companies Fund Aberdeen Global - Japanese Smaller Companies Fund Aberdeen Global - North American Smaller Companies Fund Aberdeen Global - World Smaller Companies Fund Aberdeen Global - Emerging Markets Corporate Bond Fund Aberdeen Global - Select Emerging Markets Bond Fund Aberdeen Global - Select Euro High Yield Bond Fund Aberdeen Global - Select Global Credit Bond Fund Aberdeen Global - Select High Yield Bond Fund No more than 10% of the Net Asset Value of any Fund may be invested in distressed / defaulted securities # # All the sub-funds of Aberdeen Global may invest no more than 10% of the sub-funds Net Asset Value in distressed / defaulted securities. For the following Funds, namely Aberdeen Global - Asian Local Currency Short Duration Bond Fund and Aberdeen Global Chinese Equity Fund, no more than 30% of each of the Fund s Net Asset Value in aggregate may be invested directly or indirectly in Mainland Chinese assets (including but not limited to A shares, B shares and debt securities). It is the current intention of Aberdeen Global - Asian Local Currency Short Duration Bond Fund and Aberdeen Global Chinese Equity Fund to invest less than 30% of each of the Fund s Net Asset Value in aggregate directly or indirectly in Mainland Chinese assets (including but not limited to A shares, B shares and debt securities). For so long as Aberdeen Global - Asian Local Currency Short Duration Bond Fund and Aberdeen Global Chinese Equity Fund remain authorised under the Securities and Futures Ordinance, Aberdeen Global will provide Shareholders with prior written notification of not less than one month (or such other period as the SFC may require) and update the offering documents should Aberdeen Global intend to change the abovementioned exposure to Mainland Chinese assets in future. For Aberdeen Global Brazil Equity Fund, Aberdeen Global Emerging Markets Corporate Bond Fund, Aberdeen Global North American Smaller Companies Fund and Aberdeen Global World Smaller Companies Fund, investors should note that each of the Funds will not invest more than 10% of its net asset value in securities issued or guaranteed by any single country (including its government, a public or local authority or nationalised industry of that country) with a credit rating below investment grade (or, in the case of Aberdeen Global World Smaller Companies Fund, are unrated). In this case, credit ratings in general refer to those from an internationally recognised credit agency. Investment Philosophy and Process Equities The Investment Advisers views are, given the inefficiency of markets, that long-term returns are achieved by identifying good quality stocks at a reasonable price and holding them for the long term. The Investment Advisers identify companies from first-hand research, and add value from active management, which constitutes intensive and ongoing scrutiny at the company level. No stock is purchased without the Investment Advisers having first met management, and

50 carried out detailed due diligence. An estimate of a company's worth is analysed in two stages, assessing quality then price. Quality is defined with reference to management, business focus, balance sheet and corporate governance. Price is calculated relative to key financial ratios, market, peer group and business prospects. Equity portfolios are generally conservatively run, with an emphasis on traditional buy-and-hold investment resulting in low turnover. For smaller company Funds (generally meaning Funds with investments into Smaller Companies as defined within their investment objective), the stock selection criteria remains as above but with an overlay of the maximum market capital at date of purchase. Fixed Income The Investment Advisers aim to add value by exploiting market inefficiencies in interest rates, currency, investment grade credit, emerging market debt and high yield. This is achieved by combining a top-down investment approach with bottom up security selection. The top-down investment decisions are derived from fundamental analysis of the global macro economic environment and building an economic framework covering the key economic regions, forming the foundation upon which the Investment Advisers determine investment themes and implements strategies. Bottom-up security selection requires diligent and thoughtful research and the Investment Advisers hold securities or combinations of securities that reflect their views on the relative valuations of a market or sector of a market. The Investment Advisers build up a picture of the company's ability to generate free cash flow within its industry, considering factors such as its business plan and capital structure in order to assess the likelihood of the company not paying interest and principal on its debt. Distinct investment objectives have been established for each Fund, which, together with their investment policies, where applicable, and Base Currencies, are as follows: ABERDEEN GLOBAL ASIA PACIFIC EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in Asia Pacific countries (excluding Japan); and/or, of companies which have the preponderance of their business activities in Asia Pacific countries (excluding Japan); and/or, of holding companies that have the preponderance of their assets in companies with their registered office in Asia Pacific countries (excluding Japan). Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Asia Limited This Fund provides exposure to stocks across the Asia Pacific region and may be suitable for investors seeking capital appreciation opportunities through equity investments. Since the Fund is diversified across a number of markets, it may be suitable for investors who are looking for a stand-alone regional equity investment. Due to the traditionally volatile nature of share prices and the additional country and currency risks, the investor is likely to have an investment horizon of at least five years

51 Risk warnings specific to Aberdeen Global Asia Pacific Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a specific regional market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in equities and equity-related securities across the Asia Pacific region (excluding Japan), thereby providing exposure to emerging markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL - ASIAN LOCAL CURRENCY SHORT DURATION BOND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in short duration local Asian currency denominated Debt and Debt Related Securities issued by governments, supranational institutions or government-related bodies that are domiciled in Asian countries. For the purpose of this Fund, short duration shall mean maturity of three years or less. The Fund may invest up to less than 30% of its assets in Debt and Debt Related Securities of the above types of issuers listed on PRC stock exchanges or traded on other PRC markets, including the China Interbank Bond Market, through available QFII and RQFII quotas. The Fund may utilise financial derivative instruments for hedging and/or investment purposes, or to manage foreign exchange risks, subject to the conditions and within the limits laid down by applicable laws and regulations. Without limiting the generality of the foregoing, the Investment Adviser may alter the currency exposure of the Fund, solely through the use of derivative contracts (without buying or selling underlying Transferable Securities or currencies). Furthermore, the Fund's portfolio may be fully or partially hedged back to the Base Currency if, in the opinion of the Investment Adviser, this is believed to be appropriate. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated quarterly as at 1 January, 1 April, 1 July and 1 October with the appropriate distributions or allocations made within two months of these dates. Aberdeen Asset Management Asia Limited This Fund gives access to short dated local currency Asian government bonds and may be suitable for investors seeking moderate levels of risk, aiming for income consistent with capital preservation. Investors may consider this Fund as a core portfolio investment and are likely to have an investment horizon of at least five years

52 Risk warnings specific to Aberdeen Global - Asian Local Currency Short Duration Bond Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The Fund may utilise financial derivative instruments for investment purposes in pursuing its investment objective (in addition to use for hedging purposes). Use of derivatives other than for hedging may result in leverage and may increase volatility in the Net Asset Value of the Fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. Potential investors should note the Investing in China section of the General Risk Factors and the Taxation of Chinese Equity and Bonds section under Taxation. The Fund invests in short duration local Asian currency denominated debt and debt-related securities thereby providing exposure to emerging markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. The Fund invests in a specific regional market which can increase potential volatility. Performance may be strongly influenced by movements in currency rates because the Fund may have exposure to a particular currency that is different to the value of the securities denominated in that currency held by the Fund. Regulations in the markets in which the Fund invests may require or limit hedging or other use of financial derivative instruments, either explicitly or as a result of the Investment Adviser managing resultant risk. The Fund s ability to make the relevant investments or to fully implement or pursue its investment objective and strategy is subject to the applicable laws, rules and regulations (including restrictions on investments and repatriation of principal and profits) in the PRC, which are subject to change and such change may have potential retrospective effect. The Fund may suffer substantial losses if there is insufficient QFII quota allocated for the Fund to make investments, the approval of the QFII is being revoked/terminated or otherwise invalidated as the Fund may be prohibited from trading of relevant securities and repatriation of the Fund s monies, or if any of the key operators or parties (including QFII custodian/brokers) is bankrupt/in default and/or is disqualified from performing its obligations (including execution or settlement of any transaction or transfer of monies or securities). ABERDEEN GLOBAL ASIAN PROPERTY SHARE FUND Investment Objective and Policy The Fund's investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of property companies with their registered office in an Asian country; and/or, of property companies which have the preponderance of their business activities in an Asian country; and/or, of holding companies which have the preponderance of their assets in property companies with their registered office in an Asian country. Base Currency: Share Classes in Issue: Income: Investment Adviser: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Asia Limited

53 Investor Profile: This Fund provides an indirect exposure to the Asian property market through equity investments in property companies and may be suitable for investors seeking capital appreciation opportunities through equity investments. The investor is likely to hold this portfolio as a complement to an existing core portfolio and is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Asian Property Share Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a specific regional market increases potential volatility. The Fund invests in a specialist market sector and as such is likely to be more volatile than a more diversified fund. The Fund may invest in REITs 3 which themselves invest directly in real estate under adverse market or economic conditions such assets may become illiquid or experience a drop in value, which are more fully described under General Risk Factors. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in equities and equity-related securities of Asian property companies thereby providing exposure to emerging markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL ASIAN SMALLER COMPANIES FUND Investment Objective and Policy The Fund's investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of Smaller Companies with their registered office in an Asia Pacific (excluding Japan) country; and/or, of Smaller Companies which have the preponderance of their business activities in an Asia Pacific country (excluding Japan); and/or, of holding companies that have the preponderance of their assets in Smaller Companies with their registered office in an Asia Pacific country (excluding Japan). For the purpose of this Fund, Smaller Companies are defined as companies with a market capitalisation in the Base Currency of the Fund, as at the date of initial investment, of under US$2.5 billion and a maximum market capitalisation of US$5 billion. # Base Currency: Share Classes in Issue: Income: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Investment Adviser: Investor Profile: Aberdeen Asset Management Asia Limited This Fund gives access to stocks of small capitalisation companies in Asia and may be suitable for investors seeking capital appreciation opportunities through equity investments. Investors 3 The underlying REITs invested by the Asian Property Share Fund may not be authorised by the SFC. # Capitalisation of under US$2.5 billion refers to capitalisation at the time of initial investment. The maximum market capitalisation of US$5 billion refers to capitalisation at any time subsequent

54 should be comfortable with the risks associated with small capitalisation companies and the country and currency risks that an investment in this portfolio may encounter. Due to this additional volatility, the investor is likely to hold this portfolio as a complement to an existing core portfolio and is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Asian Smaller Companies Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in Smaller Companies where share price volatility may be experienced and above average price movements may be expected. The Fund s exposure to a single regional market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in stocks of Smaller Companies in Asia (excluding Japan) thereby providing exposure to emerging markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL - AUSTRALASIAN EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in Australia or New Zealand; and/or, of companies which have the preponderance of their business activities in Australian or New Zealand; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in Australia or New Zealand. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Australian Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Asia Limited This Fund provides broad market exposure to stock markets across Australasia and may be suitable for investors seeking capital appreciation opportunities through equity investments. As the Fund is diversified across a number of markets, it may be suitable for investors who are looking for a stand-alone regional equity investment. Due to the additional country and currency risks that may be associated with the region, the investor is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Australasian Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a single regional market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law

55 ABERDEEN GLOBAL BRAZIL BOND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in Debt and Debt-Related Securities that are issued by government and related bodies domiciled in Brazil and/or corporations (or holding companies of such corporations) with their registered office or principal place of business in Brazil, and/or by corporations (or holding companies of such corporations) which carry out the preponderance of their business activities in Brazil; and/or in Debt and Debt-Related Securities issued by non-brazilian domiciled corporations or governments which are either denominated in Brazilian Real or provide underlying exposure to Brazil-domiciled corporations or the Brazilian Real. The remaining portion of the Fund s assets will be invested in other transferable securities, money market instruments, deposits and units of other collective investment schemes subject to the applicable investment powers and restrictions of the Fund. The investment of the Fund in the units of other collective investment schemes will not be more than 10%of the Net Asset Value of the Fund. The Fund may invest up to 20% of its Net Asset Value in asset backed securities including mortgage backed securities. The Fund may utilise financial derivative instruments for hedging and/or investment purposes or to manage foreign exchange risks, subject to the conditions and within the limits laid down by applicable laws and regulations. Without limiting the generality of the foregoing and for the purpose of hedging, the Investment Adviser may alter the currency exposure of the Fund, solely through the use of derivative contracts (without buying or selling underlying Transferable Securities or currencies). Furthermore, the Fund's portfolio may be fully or partially hedged back to the Base Currency if, in the opinion of the Investment Adviser, this is believed to be appropriate. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated quarterly as at 1 January, 1 April, 1 July and 1 October with the appropriate distributions or allocations made within two months of these dates. Aberdeen Asset Managers Limited This Fund gives access to Debt and Debt-related securities of issuers located in Brazil and may be suitable for investors willing to accept a high level of risk within the fixed income investment spectrum. Investors are likely to use this fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Investors should be aware of the particular valuation and switching arrangements applicable to Aberdeen Global Brazil Bond Fund which are referred to in this Summary Prospectus

56 Risk warnings specific to Aberdeen Global Brazil Bond Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in Brazilian debt and debt-related securities thereby providing exposure to emerging markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. There is also the possibility of foreign exchange control and restrictions on foreign investment and repatriation of capital which could lead to unfavourable movements in Brazilian Real exchange rates and which may increase volatility in the Net Asset Value of the Fund. The Net Asset Value of the Fund may be adversely affected as a result of the above circumstances. Exposure to a single country market increases potential volatility and the Fund s Net Asset Value is likely to be more volatile than that of a more widely invested fund. The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The presence of such risks may increase the volatility in and adversely affect the Net Asset Value of the Fund. The Fund may utilise financial derivative instruments for investment purposes in pursuing its investment objective (in addition to use for hedging purposes). Use of derivatives other than for hedging may result in leverage and may increase volatility in and adversely affect the Net Asset Value of the Fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. Performance may be strongly influenced by movements in currency rates because the Fund may have exposure to a particular currency that is different to the value of the securities denominated in that currency held by the Fund. Regulations in the markets in which the Fund invests may require or limit hedging or other use of financial derivative instruments, either explicitly or as a result of the Investment Adviser managing resultant risk. The Fund s portfolio may have a significant position in Sub-Investment Grade bonds, which means that there may be more risk to investors capital and income than from a fund investing in Investment Grade bonds. ABERDEEN GLOBAL BRAZIL EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities* of companies which are domiciled in Brazil or which have a preponderance of their business activities in Brazil; and/or, of holding companies that have the preponderance of their assets in companies which are domiciled in Brazil. * which may include without limitation common stock, preferred stock, depositary receipts and rights The remaining portion of the Fund s assets will be invested in other transferable securities, money market instruments, deposits, units of other collective investment schemes subject to the applicable investment powers and restrictions of the Fund. The investment of the Fund in the units of other collective investment schemes will not be more than 10% of the Net Asset Value of the Fund. The Investment Adviser retains the discretion to enter into securities lending for the Fund and the Fund may enter into securities lending for up to 50%of the Net Asset Value of the Fund. Base Currency: Share Classes in Issue: Income: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated quarterly as at 1 January, 1 April, 1 July and 1 October with the appropriate distributions or allocations made within two months of these dates

57 Investment Adviser: Investor Profile: Aberdeen Asset Managers Limited This Fund gives access to equity securities of issuers located in Brazil and may be suitable for investors seeking capital appreciation opportunities through equity investments. The investor may use this single country equity fund as a complement to a diversified portfolio or as a stand-alone core equity portfolio. Due to the additional individual risks associated with investments in Brazil, the investor should have an investment horizon of at least five years. Investors should be aware of the particular valuation and switching arrangements applicable to Aberdeen Global Brazil Equity Fund which are referred to in this Summary Prospectus. Risk warnings specific to Aberdeen Global Brazil Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in Brazilian equities and equity-related securities thereby providing exposure to emerging markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. There is also the possibility of foreign exchange control and restrictions on foreign investment and repatriation of capital which could lead to unfavourable movements in Brazilian Real exchange rates and which may increase volatility in the Net Asset Value of the Fund. The Net Asset Value of the Fund may be adversely affected as a result of the above circumstances. Exposure to a single country market increases potential volatility and the Fund s Net Asset Value is likely to be more volatile than that of a more widely invested fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL CHINESE EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in China; and/or, of companies which have the preponderance of their business activities in China; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in China. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Asia Limited (Mainland Chinese assets only) This Fund gives access to Chinese equity securities and may be suitable for investors seeking capital appreciation opportunities through equity investments. The investor may use this single country equity fund as a complement to a diversified portfolio or as a stand-alone core equity portfolio. Due to the additional individual risks associated with investments in China, the investor should have an investment horizon of at least five years

58 Risk warnings specific to Aberdeen Global Chinese Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a single country market increases potential volatility. Potential investors should note the Investing in China section of the General Risk Factors and the Taxation of Chinese Equity and Bonds section under Taxation. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Chinese equities and equity-related securities thereby providing exposure to emerging markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. The Fund s ability to make the relevant investments or to fully implement or pursue its investment objective and strategy is subject to the applicable laws, rules and regulations (including restrictions on investments and repatriation of principal and profits) in the PRC, which are subject to change and such change may have potential retrospective effect. The Fund may suffer substantial losses if there is insufficient QFII quota allocated for the Fund to make investments, the approval of the QFII is being revoked/terminated or otherwise invalidated as the Fund may be prohibited from trading of relevant securities and repatriation of the Fund s monies, or if any of the key operators or parties (including QFII custodian/brokers) is bankrupt/in default and/or is disqualified from performing its obligations (including execution or settlement of any transaction or transfer of monies or securities). ABERDEEN GLOBAL - EUROPEAN EQUITY DIVIDEND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in Europe; and/or, of companies which have the preponderance of their business activities in Europe; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in Europe, and which produce or are expected to produce a high dividend yield. Companies are selected regardless of their market capitalisation (micro, small, mid, large caps), sector or geographical location within Europe. Liquid assets held by the Fund in the form of sight and time deposits, together with debt instruments which generate interest income within the meaning of the European Savings Tax Directive, may not exceed 15% of the Net Asset Value of the Fund. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Euro. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund gives access to the European equity market and may be suitable for investors seeking capital appreciation opportunities combined with the prospect of high dividend income. Because the Fund is diversified across a number of European markets, investors may use this Fund as a stand-alone equity investment or as part of a core equity investment. Due to the traditionally volatile nature of share prices, the investor is likely to have an investment horizon of at least five years

59 Risk warnings specific to Aberdeen Global - European Equity Dividend Fund In addition to the general risk factors set out under General Risk Factors, potential investors should be aware of certain Fund specific risks: The Fund invests in a specific regional market which can increase potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL - EASTERN EUROPEAN EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in Eastern Europe; and/or, of companies which have the preponderance of their business activities in Eastern Europe; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in Eastern Europe. The Fund may also invest directly in securities listed on the Russian Trading System (RTS) or The Moscow Interbank Currency Exchange (MICEX) issued by companies meeting the above criteria. The Fund may invest directly in securities on non-regulated Markets in Russia and the CIS, but such investments will be limited to 10% of the Fund s Net Asset Value. The Fund may also gain indirect equity exposure through investment in depositary receipts. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Euro. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund gives access to the Eastern European stock market and may be suitable for investors seeking capital appreciation opportunities through equity investments. Despite potentially higher long term returns offered by investments in Eastern European markets, investors need to be comfortable with the additional political and economic risks associated with investments in Eastern European markets. Investors are likely to hold this Fund as a complement to a diversified portfolio and should have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Eastern European Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund may invest in regulated and non-regulated markets in Russia or the Commonwealth of Independent States' (CIS) which are subject to increased risk with regard to ownership and custody of securities. Potential investors should note the Investing in Russia and CIS risks in this section of the General Risk Factors. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Eastern European stock markets thereby providing exposure to emerging markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise

60 The Fund invests in a specific regional market which can increase potential volatility. Due to the potential limited number of investment opportunities, investments in individual countries in Eastern Europe may be high from time to time. The Fund may therefore be concentrated in a limited number of countries and as a result, may be more volatile than more broadly diversified funds. ABERDEEN GLOBAL EMERGING MARKETS CORPORATE BOND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in Debt and Debt-Related Securities which are issued by:- (1) corporations (including government-owned corporations) with their registered office or principal place of business in a CEMBI Emerging Market as at the date of investment.; and/or (2) corporations which carry out the preponderance of their business activities (as determined by the Investment Adviser) in a CEMBI Emerging Market as at the date of investment.; and/or (3) holding companies that have the preponderance of their assets invested in corporations with their registered office in a CEMBI Emerging Market and/or the preponderance of their business activities (as determined by the Investment Adviser) in a CEMBI Emerging Market as at the date of investment. The Fund may utilise financial derivative instruments for hedging and/or investment purposes, or to manage foreign exchange risks, subject to the conditions and within the limits laid down by applicable laws and regulations. Without limiting the generality of the foregoing, the Investment Adviser may alter the currency exposure of the Fund, solely through the use of derivative contracts (without buying or selling underlying Transferable Securities or currencies). Furthermore, the Fund s portfolio may be fully or partially hedged back to the Base Currency if, in the opinion of the Investment Adviser, this is believed to be appropriate. In relation to investment philosophy and process, potential investors should refer to the sub-section headed Investment Philosophy and Process under the section headed Fund Information. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated monthly as at the first Business Day of each month with the appropriate distributions or allocations made within one month of these dates. Aberdeen Asset Managers Limited This Fund gives access to debt securities of emerging market companies and may be suitable for investors willing to accept a high level of risk within the fixed income investment spectrum. Investors are likely to use this Fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Emerging Markets Corporate Bond Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner

61 The Fund invests in debt securities, including Sub-Investment Grade securities. Consequently, the Fund s portfolio may have a significant position in Sub-Investment Grade bonds and/or high-yielding bonds, which means that there is more risk to investor s capital and income than from a fund investing in Investment Grade bonds. The Fund may utilise financial derivative instruments for investment purposes in pursuing its investment objective (in addition to use for hedging purposes). Use of derivatives other than for hedging may result in leverage and may increase volatility in the Net Asset Value of the Fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. Performance may be strongly influenced by movements in currency rates because the Fund may have exposure to a particular currency that is different to the value of the securities denominated in that currency held by the Fund. Regulations in the markets in which the Fund invests may require or limit hedging or other use of financial derivative instruments, either explicitly or as a result of the Investment Adviser managing resultant risk. The Fund may be invested in contingent convertible bonds. If the financial strength of a bond's issuer falls by a predetermined threshold, the bond may suffer substantial or total losses of capital (investors should refer to the risk factor "Contingent Securities" in the section "General Risk Factors" for information on other risks associated with contingent convertible bonds). ABERDEEN GLOBAL EMERGING MARKETS EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in an Emerging Market country; and/or, of companies which have the preponderance of their business activities in an Emerging Market country; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in an Emerging Market country. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited (excluding Asian assets) Aberdeen Asset Management Asia Limited (Asian assets only) This Fund gives access to global emerging market stocks and may be suitable for investors seeking capital appreciation opportunities through equity investments. Despite potentially higher long term returns offered by investments in global emerging market equities, investors need to be comfortable with the additional political and economic risks associated with emerging market investments. Investors are likely to hold this Fund as a complement to a diversified portfolio and should have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Emerging Markets Equity Fund In addition to the general risk factors set out under General Risk Factors, potential investors should be aware of certain Fund specific risks: In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law

62 The Fund invests in Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL - EMERGING MARKETS INFRASTRUCTURE EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies active in the field of infrastructure related sectors, and which have their registered offices in an Emerging Market country; and/or, of companies which have the preponderance of their business activities in an Emerging Market country; and/or, of holding companies that have the preponderance of their assets in companies with their registered offices in an Emerging Market country. These sectors or industries consist of companies that, for example, obtain a substantial part of their sales and revenues from: energy and power, engineering and construction, electrical equipment, environmental services, materials, real estate development, resources, transportation and utilities. Furthermore, the Fund may invest in companies which obtain the majority of their revenues by financing the above activities. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated quarterly as at 1 January, 1 April, 1 July and 1 October with the appropriate distributions or allocations made within two months of these dates. Aberdeen Asset Managers Limited (excluding Asian assets) Aberdeen Asset Management Asia Limited (Asian assets only) This Fund gives access to a global range of equities issued by infrastructure companies and may be suitable for investors seeking capital appreciation opportunities through equity investments. With a potentially high exposure to companies located in emerging markets, investors in this Fund need to be comfortable with the additional political and economic risks associated with investments in emerging markets. Investors are likely to hold this Fund as a complement to a diversified portfolio and should have an investment horizon of at least five years. Investors should be aware of the particular valuation and switching arrangements applicable to Aberdeen Global - Emerging Markets Infrastructure Equity Fund which are referred to in this Summary Prospectus. Risk warnings specific to Aberdeen Global - Emerging Markets Infrastructure Equity Fund in addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in a specialist market sector and as such is likely to be more volatile than a more widely invested fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise

63 ABERDEEN GLOBAL EMERGING MARKETS LOCAL CURRENCY BOND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in fixed interest securities which are issued by corporations with their registered office in, and/or government related bodies domiciled in an Emerging Market country and denominated in the currency of that Emerging Market as at the date of investment. The Fund may utilise financial derivative instruments for hedging and/or investment purposes, or to manage foreign exchange risks, subject to the conditions and within the limits laid down by applicable laws and regulations. Without limiting the generality of the foregoing, the Investment Adviser may alter the currency exposure of the Fund, solely through the use of derivative contracts (without buying or selling underlying Transferable Securities or currencies). Furthermore, the Fund s portfolio may be fully or partially hedged back to the Base Currency if, in the opinion of the Investment Adviser, this is believed to be appropriate. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated monthly as at the first Business Day of each month with the appropriate distributions or allocations made within one month of these dates. Aberdeen Asset Managers Limited This Fund gives access to debt securities of issuers located in emerging markets and may be suitable for investors willing to accept a high level of risk within the fixed income investment spectrum. Investors are likely to use this Fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Emerging Markets Local Currency Bond Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The Fund invests in fixed interest securities, including Sub-Investment Grade securities. Consequently the Fund s portfolio may have a significant position in Sub-Investment Grade bonds and/or high-yielding bonds, which means that there is more risk to investor s capital and income than from a fund investing in Investment Grade bonds. The Fund may utilise financial derivative instruments for investment purposes in pursuing its investment objective (in addition to use for hedging purposes). Use of derivatives other than for hedging may result in leverage and may increase volatility in the Net Asset Value of the Fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. Performance may be strongly influenced by movements in currency rates because the Fund may have exposure to a particular currency that is different to the value of the securities denominated in that currency held by the Fund. Regulations in the markets in which the Fund invests may require or limit hedging or other use of financial derivative instruments, either explicitly or as a result of the Investment Adviser managing resultant risk

64 ABERDEEN GLOBAL EMERGING MARKETS SMALLER COMPANIES FUND Investment Objective and Policy The Fund's investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of Smaller Companies with their registered office in an Emerging Market country; and/or, of Smaller Companies which have the preponderance of their business activities in an Emerging Market country; and/or, of holding companies that have the preponderance of their assets in Smaller Companies with their registered office in an Emerging Market country. For the purpose of this Fund, Smaller Companies are defined as companies with a market capitalisation in the Base Currency of the Fund, as at the date of initial investment, of under US$2.5 billion and a maximum market capitalisation of US$5 billion. # Base Currency: Share Classes in Issue: Income: Investment Adviser: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited (excluding Asian assets) Aberdeen Asset Management Asia Limited (Asian assets only) Investor Profile: This Fund gives access to equity securities of emerging market small capitalisation companies and may be suitable for investors seeking capital appreciation opportunities through equity investments. Although such companies have often been associated with higher returns, they also carry higher risks than developed market blue-chip companies. Due to this additional volatility the investor is likely to hold this portfolio as a complement to an existing portfolio and is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Emerging Markets Smaller Companies Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in Smaller Companies where share price volatility may be experienced and above average price movements may be expected. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL EUROPEAN EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in Europe; and/or, of companies # Capitalisation of under US$2.5 billion refers to capitalisation at the time of initial investment. The maximum market capitalisation of US$5 billion refers to capitalisation at any time subsequent

65 which have the preponderance of their business activities in Europe; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in Europe. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Euro. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund gives access to European stocks and may be suitable for investors seeking capital appreciation opportunities through equity investments. Because the Fund is diversified across a number of markets, investors may use this portfolio as a stand-alone equity investment or as part of a core equity investment. Due to the traditionally volatile nature of share prices, the investor is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global European Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a specific regional market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL EUROPEAN EQUITY (EX UK) FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in Europe (excluding the United Kingdom); and/or, of companies which have the preponderance of their business activities in Europe (excluding the United Kingdom); and/or, of holding companies that have the preponderance of their assets in companies with their registered office in Europe (excluding the United Kingdom). Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Euro. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund gives access to European (ex-uk) stocks and may be suitable for investors seeking capital appreciation opportunities through equity investments. Because the Fund is diversified across a number of markets, it may be suitable for investors who are looking for a stand alone equity investment in the European region or as part of a core equity investment. Due to the traditionally volatile nature of share prices, the investor is likely to have an investment horizon of at least five years

66 Risk warnings specific to Aberdeen Global European Equity (Ex UK) Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a specific regional market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in equities and equity-related securities in Europe (excluding the United Kingdom) thereby providing exposure to Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL INDIAN EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in India; and/ or, of companies which have the preponderance of their business activities in India; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in India. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Asia Limited This Fund gives access to Indian equity securities and may be suitable for investors seeking capital appreciation opportunities through equity investments. The investor may use this single country equity fund as a complement to a diversified portfolio or as a stand-alone core equity portfolio. Due to the additional individual risks associated with investments in India, the investor should have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Indian Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a single country market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Indian equities and equity-related securities thereby providing exposure to Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. Aberdeen Global India Equity Fund has a wholly-owned subsidiary Aberdeen Global Indian Equity Limited (the Subsidiary ). The Subsidiary invests in Indian securities. The investment objective and policy also apply to the Subsidiary. For more details on the Subsidiary see Appendix F

67 Potential investors should note the Taxation of Indian Equities section under Taxation. The Aberdeen Global Indian Equity Fund and the Subsidiary are viewed as one entity for compliance with the Code on Unit Trusts and Mutual Funds issued by the Securities and Futures Commission in Hong Kong. ABERDEEN GLOBAL - JAPANESE EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in Japan; and/or, of companies which have the preponderance of their business activities in Japan; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in Japan. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Japanese Yen. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Asia Limited This Fund gives access to Japanese equity securities and may be suitable for investors seeking capital appreciation opportunities through equity investments. The investor may use this fund as a complement to a diversified portfolio or as a stand-alone core equity portfolio. Due to the traditionally volatile nature of share prices and the individual economic and political risks associated with single-country investing, the investor is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Japanese Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a single country market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL JAPANESE SMALLER COMPANIES FUND Investment Objective and Policy The Fund's investment objective is long-term total return by investing at least two-thirds of the Fund s assets in equities and equity-related securities of Smaller Companies with their registered office in Japan; and/or, of Smaller Companies which have the preponderance of their business activities in Japan; and/or, of holding companies that have the preponderance of their assets in Smaller Companies with their registered office in Japan. For the purpose of this Fund, Smaller Companies are defined as companies with a market capitalisation in the Base Currency of the Fund, as at the date of initial investment, of under Yen 250 billion and a maximum market capitalisation of Yen 500 billion #. # Capitalisation of under Yen 250 billion refers to capitalisation at the time of initial investment. The maximum market capitalisation of Yen 500 billion refers to capitalisation at any time subsequent

68 Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Japanese Yen. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Asia Limited This Fund gives access to equities of small capitalisation companies in Japan and may be suitable for investors seeking capital appreciation opportunities through equity investments. Although small capitalisation companies have often been associated with high returns, they also carry higher risks than blue-chip companies. Due to this additional volatility the investor is likely to hold this portfolio as a complement to an existing core portfolio and is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Japanese Smaller Companies Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a single country market increases potential volatility. The Fund invests in Smaller Companies where share price volatility may be experienced and above average price movements may be expected. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL LATIN AMERICAN EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in a Latin American country; and/or, of companies which have the preponderance of their business activities in a Latin American country; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in a Latin American country. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund gives access to Latin American stocks and may be suitable for investors seeking capital appreciation opportunities through equity investments. Despite potentially higher long term returns offered by equity investments in this region, investors need to be comfortable with the additional political and economic risks associated with such investments. Investors are likely to hold this Fund as a complement to a diversified portfolio and should have an investment horizon of at least five years

69 Risk warnings specific to Aberdeen Global Latin American Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a specific regional market increases potential volatility. The Fund invests in Latin American stocks thereby providing exposure to Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL NORTH AMERICAN EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in the United States of America; and/or, of companies which have the preponderance of their business activities in the United States of America; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in the United States of America. Base Currency: Share Classes in Issue: Income: Investment Adviser: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Inc. Investor Profile: This Fund gives access to US stocks and may be suitable for investors seeking capital appreciation opportunities through equity investments. The investor may use this Fund as a complement to a diversified portfolio or as a stand-alone core equity portfolio. Due to the traditionally volatile nature of share prices and the individual economic and political risks associated with single-country investing, the investor is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global North American Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a single country market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL NORTH AMERICAN SMALLER COMPANIES FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of:- (1) Smaller Companies with their registered office in the United States of America; and/or,

70 (2) Smaller Companies which have the preponderance of their business activities in the United States of America; and/or, (3) holding companies that have the preponderance of their assets in Smaller Companies with their registered office in the United States of America. For the purpose of this Fund, Smaller Companies are defined as companies with a market capitalisation in the Base Currency of the Fund, as at the date of investment, of under US$5 billion. In relation to investment philosophy and process, potential investors should refer to the sub-section headed Investment Philosophy and Process under the section headed Fund Information. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Management Inc. This Fund gives access to stocks of small capitalisation companies in the US and may be suitable for investors seeking capital appreciation opportunities through equity investments. Although small capitalisation companies have often been associated with high returns, they also carry higher risks than blue-chip companies. Due to this additional volatility, the investor is likely to hold this portfolio as a complement to an existing core portfolio and is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global North American Smaller Companies Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in Smaller Companies where share price volatility may be experienced and above average price movements may be expected. The Fund s exposure to a single country market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL RESPONSIBLE WORLD EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return by investing at least two-thirds of the Fund s assets in equities and equity-related securities. Selection of such equities and equity-related securities will be undertaken on the basis of thorough fundamental company analysis and in addition, environmental, social and governance criteria will also be taken into account. Where an investee company s practices are considered to be lacking or deficient with regard to these criteria, the Investment Manager will encourage the company to adopt more responsible practices. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund gives access to stocks of a universe of socially responsible companies throughout

71 the world and may be suitable for investors looking to invest in companies whose strategies meet ethical standards. Due to the traditionally volatile nature of share prices, the investor is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Responsible World Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in stocks throughout the world that provide exposure to Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL - RUSSIAN EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in Russia; and/or, of companies which have the preponderance of their business activities in Russia; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in Russia. The Fund may invest directly in securities listed on the Russian Trading System (RTS) or The Moscow Interbank Currency Exchange (MICEX) issued by companies meeting the above criteria. The Fund may also invest directly in securities on non-regulated Markets in Russia and the CIS, but such investments will be limited to 10% of the Fund s Net Asset Value. The Fund may also gain indirect equity exposure through investment in depositary receipts. Furthermore, one third of the Fund s assets may be invested, in accordance with Article 41 of the Law, in the CIS and Eastern Europe or in companies which conduct a large majority of their business activities there. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Euro. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund gives access to Russian equity securities and may be suitable for investors seeking capital appreciation opportunities through equity investments. The investor may use this single country equity fund as a complement to a diversified portfolio or as a stand-alone core equity portfolio. Due to the additional individual risks associated with investments in Russia, the investor should have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Russian Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: Exposure to a single country market increases potential volatility. The Fund may invest in regulated and non-regulated markets in Russia which are subject to increased risk with regard to ownership and custody of securities. Potential investors should note the Investing in Russia and CIS risks section under General Risk Factors

72 In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Russian equity securities thereby providing exposure to Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL - SELECT EMERGING MARKETS BOND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in fixed interest securities which are issued by corporations with their registered office in, and/or government related bodies domiciled in an Emerging Market country. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated monthly as at the first Business Day of each month with the appropriate distributions or allocations made within one month of these dates. Aberdeen Asset Managers Limited This Fund gives access to debt securities of issuers located in emerging markets and may be suitable for investors willing to accept a high level of risk within the fixed income investment spectrum. Investors are likely to use this fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global - Select Emerging Markets Bond Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The Fund invests in fixed interest securities, including Sub-Investment Grade securities. Consequently, the Fund s portfolio may have a significant position in Sub-Investment Grade bonds and/or high-yielding bonds, which means that there is more risk to investor s capital and income than from a fund investing in Investment Grade bonds. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. The Fund may be invested in contingent convertible bonds. If the financial strength of a bond's issuer falls by a predetermined threshold, the bond may suffer substantial or total losses of capital (investors should refer to the risk factor "Contingent Securities" in the section "General Risk Factors" for information on other risks associated with contingent convertible bonds)

73 ABERDEEN GLOBAL - SELECT EURO HIGH YIELD BOND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in fixed interest securities which are Sub-Investment Grade and denominated in Euro and issued by corporations or government related bodies. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Euro. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated monthly as at the first Business Day of each month with the appropriate distributions or allocations made within one month of these dates. Aberdeen Asset Managers Limited This Fund gives access to Euro-denominated high yield securities and may be suitable for investors willing to accept a high level of risk in their fixed income investment. Due to the high risks associated with non-investment grade bonds, investors are likely to use this fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global - Select Euro High Yield Bond Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The Fund will have significant exposure to one currency, increasing its potential volatility. The Fund s exposure to a specific regional market increases potential volatility. The Fund s portfolio may have a significant position in Sub-Investment Grade bonds and/or high-yielding bonds, which means that there may be more risk to investor s capital and income than from a fund investing in Investment Grade bonds. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund may be invested in contingent convertible bonds. If the financial strength of a bond's issuer falls by a predetermined threshold, the bond may suffer substantial or total losses of capital (investors should refer to the risk factor "Contingent Securities" in the section "General Risk Factors" for information on other risks associated with contingent convertible bonds). ABERDEEN GLOBAL - SELECT GLOBAL CREDIT BOND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in Debt and Debt-Related Securities issued by corporations or multilateral development banks or governments or government-related bodies. The Fund may also invest in other Transferable Securities issued by corporations or government-related bodies. Such securities may include convertibles, up to an absolute maximum of 25% of the Fund, and also include floating rate securities, asset-backed securities, perpetual securities, preferred stocks and warrants. The Fund may invest up to 50% in Sub-Investment Grade Debt and Debt-Related Securities

74 The Fund may utilise financial derivative instruments for hedging and/or investment purposes, or to manage foreign exchange risks, subject to the conditions and within the limits laid down by applicable laws and regulations. Without limiting the generality of the foregoing, the Investment Adviser may alter the currency exposure of the Fund, solely through the use of derivative contracts (without buying or selling underlying Transferable Securities or currencies). Furthermore, the Fund's portfolio may be fully or partially hedged back to the Base Currency if, in the opinion of the Investment Adviser, this is believed to be appropriate. Regulations in the markets in which the Fund invests may require or limit hedging or other use of financial derivative instruments, either explicitly or as a result of the Investment Adviser managing resultant risk. Base Currency: Share Classes in Issue: Income: Investment Adviser: Sterling. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated six-monthly as at 1 April and 1 October with the appropriate distributions or allocations made within two months of these dates. Aberdeen Asset Managers Limited Investor Profile: This Fund gives access to a global range of debt securities and may be suitable for investors willing to accept a higher level of risk within the fixed income investment spectrum. Investors are likely to use this Fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global - Select Global Credit Bond Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The Fund s portfolio may have a significant position in Sub-Investment Grade bonds, which means that there may be more risk to investor s capital and income than from a fund investing in Investment Grade bonds. The Fund may utilise financial derivative instruments for investment purposes in pursuing its investment objective (in addition to use for hedging purposes). Use of derivatives other than for hedging may result in leverage and may increase volatility in the Net Asset Value of the Fund. Performance may be strongly influenced by movements in currency rates because the Fund may have exposure to a particular currency that is different to the value of the securities denominated in that currency held by the Fund. Regulations in the markets in which the Fund invests may require or limit hedging or other use of financial derivative instruments, either explicitly or as a result of the Investment Adviser managing resultant risk. The risk profile of this Fund may be higher relative to other bond funds due to its investments in asset-backed and mortgage-backed securities. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund may be invested in contingent convertible bonds. If the financial strength of a bond's issuer falls by a predetermined threshold, the bond may suffer substantial or total losses of capital (investors should refer to the risk factor "Contingent Securities" in the section "General Risk Factors" for information on other risks associated with contingent convertible bonds)

75 ABERDEEN GLOBAL - SELECT HIGH YIELD BOND FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in fixed interest securities which are Sub-Investment Grade and issued by corporations or government related bodies. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Sterling. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated quarterly as at 1 January, 1 April, 1 July and 1 October with the appropriate distributions or allocations made within two months of these dates. Aberdeen Asset Managers Limited This Fund gives access to high yield fixed income securities and may be suitable for investors willing to accept a high level of risk in their bond portfolio. Due to the high risks associated with non-investment grade bonds, investors are likely to use this Fund to complement an existing core bond portfolio and are likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global - Select High Yield Bond Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Where long-term interest rates rise, the capital value of bonds is likely to fall and vice versa. Credit risk reflects the ability of a bond issuer to meet its obligations. Where a bond market has a low number of buyers and/or a high number of sellers, it may be harder to sell particular bonds at an anticipated price and/or in a timely manner. The Fund s portfolio may have a significant position in Sub-Investment Grade bonds and/or high-yielding bonds, which means that there may be more risk to investor s capital and income than from a fund investing in Investment Grade bonds. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund may be invested in contingent convertible bonds. If the financial strength of a bond's issuer falls by a predetermined threshold, the bond may suffer substantial or total losses of capital (investors should refer to the risk factor "Contingent Securities" in the section "General Risk Factors" for information on other risks associated with contingent convertible bonds). ABERDEEN GLOBAL TECHNOLOGY EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies involved in high technology industries; and/or, of companies which have the preponderance of their business activities in high technology industries; and/or, of holding companies that have the preponderance of their assets in companies involved in high technology industries. Base Currency: Share Classes in Issue: Income: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date

76 Investment Adviser: Investor Profile: Aberdeen Asset Managers Limited This Fund gives access to equity investments in the high technology industry and may be suitable for investors who are prepared to experience higher levels of volatility in pursuit of higher returns. The investor may use this equity fund as a complement to a diversified portfolio and is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global Technology Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in a specialist market sector and as such is likely to be more volatile than a more widely invested fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL UK EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities of companies with their registered office in the United Kingdom; and/or, of companies which have the preponderance of their business activities in the United Kingdom; and/or, of holding companies that have the preponderance of their assets in companies with their registered office in the United Kingdom. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: Sterling. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated six-monthly as at 1 April and 1 October with the appropriate distributions or allocations made within two months of these dates. Aberdeen Asset Managers Limited This Fund gives access to UK equity securities and may be suitable for investors seeking capital appreciation opportunities through equity investments. The investor may use this single country equity fund as a complement to a diversified portfolio or as a stand-alone core equity portfolio. Due to the traditionally volatile nature of share prices, the investor is likely to have a long-term investment horizon of at least five years. Risk warnings specific to Aberdeen Global UK Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund s exposure to a single country market increases potential volatility. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. ABERDEEN GLOBAL WORLD EQUITY FUND Investment Objective and Policy The Fund's investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities

77 Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund provides a broad exposure to international stock markets. Through diversification across a range of markets, the Fund may be used as a global core equity investment or a stand alone equity investment. Due to the traditionally volatile nature of share prices, the investor should have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global World Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in equities and equity-related securities throughout the World that provide exposure to Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL - WORLD RESOURCES EQUITY FUND Investment Objective and Policy The Fund s investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in worldwide companies active in the extraction, production, processing and trading of the following products: chemicals, building materials, metals and other raw materials, timber and paper products, containers and packaging as well as companies in the energy resources sector. Furthermore, the Fund may invest in companies which obtain the majority of their revenues by financing the above activities. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited This Fund provides an international exposure to stocks in companies operating in the resource sector and may be suitable for investors who are prepared to experience higher levels of volatility in pursuit of higher returns. The investor may use this equity fund as a complement to a diversified portfolio and is likely to have an investment horizon of at least five years. Risk warnings specific to Aberdeen Global - World Resources Equity Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in a specialist market sector and as such is likely to be more volatile than a more widely invested

78 fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law. The Fund invests in equity and equity-related securities throughout the world that provide exposure to Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Manager s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise. ABERDEEN GLOBAL WORLD SMALLER COMPANIES FUND Investment Objective and Policy The Fund's investment objective is long-term total return to be achieved by investing at least two-thirds of the Fund s assets in equities and equity-related securities* of worldwide Smaller Companies and/or of worldwide holding companies that have the preponderance of their assets in Smaller Companies. * which may include without limitation common stock, preferred stock, depositary receipts and rights The remaining portion of the Fund s assets will be invested in other Transferable Securities #, Money Market Instruments, deposits, units of other collective investment schemes subject to the applicable investment powers and restrictions of the Fund. The investment of the Fund in the units of other collective investment schemes will not be more than 10% of the Net Asset Value of the Fund. # primarily equity securities For the purpose of this Fund, Smaller Companies are defined as companies with a market capitalisation in the Base Currency of the Fund, as at the date of investment, of under US$5 billion. The Investment Adviser retains the discretion to enter into securities lending for the Fund and the Fund may enter into securities lending for up to 50% of the Net Asset Value of the Fund. The Fund currently does not intend to invest in asset backed / mortgage backed securities. The Fund is a global fund insofar as its investments are not confined to or concentrated in any particular geographic region or market. In relation to investment philosophy and process, potential investors should refer to the sub-section headed Investment Philosophy and Process under the section headed Fund Information. Base Currency: Share Classes in Issue: Income: Investment Adviser: Investor Profile: US Dollars. Up to date Share Class information can be found at or is available from the registered office of Aberdeen Global or the Transfer Agent. Income will be calculated annually as at 1 October with the appropriate distributions or allocations made within two months of this date. Aberdeen Asset Managers Limited (excluding Asian assets) Aberdeen Asset Management Asia Limited (Asian assets only) This Fund gives access to stocks of worldwide Smaller Companies and may be suitable for investors seeking capital appreciation opportunities through equity investments. Although small capitalisation companies have often been associated with high returns, they also carry higher risks than blue-chip companies. Due to this additional volatility, the investor is likely to hold this portfolio as a complement to an existing core portfolio and is likely to have an investment horizon of at least five years

79 Risk warnings specific to Aberdeen Global World Smaller Companies Fund In addition to the general risk factors set out under General Risk Factors potential investors should be aware of certain Fund specific risks: The Fund invests in smaller companies where share price volatility may be experienced and above average price movements may be expected. The Fund may invest in equity and equity-related securities of Smaller Companies throughout the World that may provide exposure to Emerging Markets which tend to be more volatile than mature markets and its value could move sharply up or down. In some circumstances, the underlying investments may become illiquid which may constrain the Investment Advisor s ability to realise some or all of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise.there is also the possibility of foreign exchange control and restrictions on foreign investment and repatriation of capital which could lead to unfavourable movements in exchange rates and which may increase volatility in and adversely affect the Net Asset Value of the Fund. In relation to the use of financial derivative instruments, potential investors should refer to the sub-section headed Financial Derivative Instruments under the section headed Conversion under the Law

80 GENERAL RISK FACTORS Investors should recognise that: - a) the price of Shares of each class in Aberdeen Global and any income from them may go down as well as up; and b) the right of holders of Shares of any class in Aberdeen Global to require the redemption or switching of such Shares may from time to time be suspended in the circumstances and manner described in Appendix C. General Investors should remember that the price of Shares of any of the Funds and any income from them may fall as well as rise and that investors may not get back the full amount invested. Past performance is not a guide to future performance and the Fund(s) should be regarded as medium to long-term investment(s). An Investment in the Funds are not in the nature of a deposit in a bank account and is not protected by any government, government agency or other guarantee scheme which may be available to protect the holder of a bank deposit account. None of the Investment Advisers, any service provider to Aberdeen Global, any of their respective directors, subsidiaries, affiliates, associates, agents or delegates, guarantee the performance or any future return of any investment product. A number of the risk warnings below have been included because the Funds may invest in other collective investment schemes to which these apply. To the best of the knowledge and belief of the Directors, the following statements are intended to summarise the risks involved in investing in Aberdeen Global having regard to the current market and economic environment. The statements do not offer advice on the suitability of investments. Investment Objective There is no guarantee or assurance that the investment objectives of any of the Funds will be achieved. Investors should also be aware that the investment objectives of a Fund may state that it may invest on a limited basis into areas not naturally associated with the name of the Fund. These other markets may act with more or less volatility than the core investment area and performance will be in part dependent on these investments. Investors should ensure (prior to any investment being made) that they are satisfied with the risk profile of the overall objectives disclosed. Currency Risk Where the currency of the relevant Fund varies from the currency invested, or where the currency of the relevant Fund varies from the currencies of the markets in which the Fund invests, there is the prospect of additional loss (or the prospect of additional gain) to the investor greater than the usual risks of investment. A Fund may invest in securities denominated in a number of different currencies other than the Base Currency in which the Fund is denominated. Changes in foreign currency exchange rates may adversely affect the value of a Fund s investments and the income thereon. Regulatory Risk The Funds are domiciled in Luxembourg and investors should note that all the regulatory protections provided by local regulatory authorities may not apply. Investors should consult their financial advisors for further information in this area. Regulatory Risk In Non-EU Jurisdictions A Fund may be registered in jurisdictions outside of the EU. As a result of such registrations, such Fund may be subject, without any notice to the shareholders in the Fund concerned, to more restrictive regulatory regimes. In such cases such Fund will abide by these more restrictive requirements. This may prevent such Fund from making the fullest possible use of the investment limits. Liquidity Risk A Fund may invest in certain securities that subsequently become difficult to sell because of reduced liquidity which would have an adverse impact on market price. Reduced liquidity for such securities may be driven by a specific economic or market event, such as the deterioration in the creditworthiness of an issuer. Not all investments held by the Funds will be listed or rated or actively traded and consequently liquidity may be low. Moreover, the accumulation and disposal of holdings in some investments may be time consuming and may need to be conducted at unfavourable prices. The Funds may also encounter difficulties in disposing of assets at their fair price due to adverse market conditions leading to limited liquidity. Moreover, there is no assurance that the liquidity of the Funds will always be sufficient to meet redemption requests as and when made

81 Counterparty Risk Each Fund may enter into Repurchase Transactions and other contracts that entail a credit exposure to certain counterparties. To the extent that a counterparty defaults on its obligation and the Fund is delayed or prevented from exercising its rights with respect to the investments in its portfolio, it may experience a decline in the value of its position, a loss of income and possible additional costs associated with asserting its rights. Specific Risks Related To OTC Derivative Transactions In general, there is less governmental regulation and supervision of transactions in the OTC markets (in which currencies, forwards and certain options on currencies are generally traded) than of transactions entered into on organised exchanges. In addition, many of the protections afforded to participants on some organised exchanges, such as the performance guarantee of an exchange clearinghouse, may not be available in connection with OTC transactions. Therefore, any Fund entering into OTC transactions will be subject to the risk that its direct counterparty will not perform its obligations under the transactions and that the Fund will incur losses. A Fund will only enter into transactions with counterparties which it believes to be creditworthy, and may reduce the exposure incurred in connection with such transactions through the receipt of letters of credit or collateral from certain counterparties. Regardless of the measures the Fund may seek to implement to reduce counterparty credit risk, however, there can be no assurance that a counterparty will not default or that the Fund will not sustain losses as a result. Inflation/Deflation Risk Inflation risk refers to the possibility of a reduction in the value of the income or assets as inflation decreases the value of money. The real value of a Fund's portfolio could decline as a result of increasing inflation. Deflation risk refers to the possibility of a decline in the prices throughout the economy over time. Deflation may have an adverse effect on the creditworthiness of issuers and may make issuer default more likely, which may result in a decline in the value of a Fund s portfolio. Increased Volatility The value of some Funds may be susceptible to increased volatility as a consequence of the composition of the portfolio or the investment techniques used (e.g. where a Fund has more concentrated portfolio or where a Fund makes more extensive use of Financial Derivative Instruments for investment purposes). Leverage Risk Due to the low margin deposits normally required in trading derivative instruments, an extremely high degree of leverage is typical for trading in derivatives instruments. As a result, a relatively small price movement in a derivative contract may result in substantial losses to the investor. Investment in derivative transactions may result in losses in excess of the amount invested. Suspension of Share Class Dealing Investors are reminded that in certain circumstances their right to redeem from or switch Funds may be suspended (See Appendix C, section 10. Suspension ). Warrants When a Fund invests in warrants, the Price per share of the Fund may fluctuate more than if the Fund was invested in the underlying securit(y/ies) because of the greater volatility of the warrant price. Base Currency Exposure Share Classes Certain Classes of Shares may be made available in currencies other than the Base Currency of the relevant Fund. The Investment Manager may hedge the Shares of such Classes in relation to the Base Currency of the relevant Fund. Where such hedging is undertaken in Base Currency Hedged Share Classes it may substantially protect investors against a decrease in the value of the Base Currency of the Fund relative to the hedged currency but may also preclude investors from benefiting from an increase in the value of the Base Currency of the Fund or the currencies of the assets in its portfolio. With Base Currency Exposure Share Classes, the risk of an overall depreciation of a Fund s Base Currency against the alternate currency of the Share Class may be reduced significantly by exposing the Net Asset Value of the respective Class - calculated in the Fund s Base Currency - against the respective alternate currency by means of the financial derivative instruments mentioned under the sections Base Currency Exposure Share Classes and General Information regarding Base Currency Exposure Share Classes. Consequently, it is the currency of the Base Currency Exposure Share Classes that is managed against the Base Currency rather than the investment currencies of the Fund s portfolio. This may result in the Base Currency Exposure Share Class being over or under-exposed at any one time against the

82 investment currencies of the Fund s portfolio. Costs incurred in the process are borne solely by the Share Class concerned. Investors should be aware that certain market events or circumstances could result in the Investment Manager no longer being able to perform transactions for a Base Currency Exposure Share Class or that such activities may no longer be economically viable. Holding Securities Overseas Securities held with a local correspondent or clearing / settlement system or securities correspondent ( Securities System ) may not be as well protected as those held within Luxembourg. In particular, losses may be incurred as a consequence of the insolvency of the local correspondent or Securities System. In some markets, the segregation or separate identification of a beneficial owner s securities may not be possible or the practices of segregation or separate identification may differ from practices in more developed markets. Restricted Securities Aberdeen Global may invest in securities which may only be offered to qualified institutional investors (such as but not limited to QIBS as defined in the US Securities Act of 1933) or other securities that contain restrictions of their negotiability and/or issue. Such investments may be less liquid, making it difficult to acquire or to dispose of such investments which may lead to the Funds experiencing adverse price movements upon any such disposal. Such restricted securities may be but are not limited to securities known as Rule 144A Securities. Rule 144A securities are privately offered securities that can be resold only to certain qualified institutional buyers. As such securities are traded among a limited number of investors, certain Rule 144A securities may be illiquid and involve the risk that a Fund may not be able to dispose of these securities quickly or in adverse market conditions. Smaller Companies Funds Smaller companies tend to have single or limited business areas, product lines, markets or financial resources or have businesses and/or other assets concentrated in certain markets, sectors or geographical areas or they may only depend on a few key employees. Hence, smaller companies are subject to the risk of greater vulnerability to the release of unfavourable market news and information and the risk of being adversely affected by poor economic or market conditions; market for smaller companies is generally of lower liquidity. As a result, the smaller companies equity Funds may fluctuate in value more than other Funds because of the greater volatility of share prices of smaller companies. If an investment in a Smaller Company (as defined for a Fund) falls below or exceeds the capitalisation thresholds determined by Aberdeen Global, the relevant asset will not be sold unless in the opinion of the Investment Adviser, it is in the interest of Shareholders to do so. Potential Conflicts of Interest The Management Company and the Investment Manager/Adviser and other companies in the Aberdeen Group may effect transactions in which they have, directly or indirectly, an interest which may involve a potential conflict with the Management Company s duty to the Fund. Neither the Management Company nor the Investment Manager/Adviser nor other companies in the Aberdeen Group shall be liable to account to the Fund for any profit, commission or remuneration made or received from or by reason of such transactions or any connected transactions nor will the Investment Manager/Adviser s fees, unless otherwise provided, be abated. The Management Company and the Investment Manager/Adviser will ensure that such transactions are effected on terms which are not less favourable to the Fund than if the potential conflict had not existed. Such potential conflicting interests or duties may arise because the Investment Manager/Adviser or other members in the Aberdeen Group may have invested directly or indirectly in the Funds. More specifically, the Investment Manager/Adviser, under the rules of conduct applicable to it, must try to avoid conflicts of interests and, where they cannot be avoided, ensure that its clients (including the Fund) are fairly treated. The Management Company will adopt and implement policies for the prevention of conflict of interests as foreseen by applicable rules and regulations

83 Specific Risks Linked To Securities Lending And Repurchase / Reverse Repurchase Transactions 4 Whilst value of the collateral of Repurchase/Reverse Repurchase or Securities Lending Agreements will be maintained to at least equal to the value of the securities transferred, in the event of a sudden market movement there is a risk that the value of such collateral may fall below the value of the securities transferred. Aberdeen Global will seek to mitigate this risk by requiring any securities lending agent to indemnify the relevant Funds against such a fall in the value of collateral (save where such collateral has been re-invested at the instructions of the Fund). In relation to Repurchase Transactions, investors must notably be aware that (A) in the event of the failure of the counterparty with which cash of a Fund has been placed there is the risk that collateral received may yield less than the cash placed out, whether because of inaccurate pricing of the collateral, adverse market movements, a deterioration in the credit rating of issuers of the collateral, or the illiquidity of the market in which the collateral is traded; that (B) (i) locking cash in transactions of excessive size or duration, (ii) delays in recovering cash placed out, or (iii) difficulty in realising collateral may restrict the ability of the Fund to meet redemption requests, security purchases or, more generally, reinvestment; and that (C) Repurchase Transactions will, as the case may be, further expose a Fund to risks similar to those associated with optional or forward derivative financial instruments, which risks are further described in other sections of this Summary Prospectus. Securities lending involves counterparty risk, including the risk that the loaned securities may not be returned or returned in a timely manner and/or at a loss of rights in the collateral if the borrower or the lending agent defaults or fails financially. This risk is increased when a Fund s loans are concentrated with a single or limited number of borrowers. Investors must notably be aware that (A) if the borrower of securities lent by a Fund fail to return these there is a risk that the collateral received may realise less than the value of the securities lent out, whether due to inaccurate pricing, adverse market movements, a deterioration in the credit rating of issuers of the collateral, or the illiquidity of the market in which the collateral is traded; that (B) in case of reinvestment of cash collateral such reinvestment may (i) create leverage with corresponding risks and risk of losses and volatility, (ii) introduce market exposures inconsistent with the objectives of the Fund, or (iii) yield a sum less than the amount of collateral to be returned; and that (C) delays in the return of securities on loans may restrict the ability of a Fund to meet delivery obligations under security sales. Asset Backed Securities and Mortgage Backed Securities Some Funds may invest their assets in Asset Backed Securities (ABS) including Mortgage Backed Securities (MBS), which are debt securities based on a pool of assets or collateralised by the cash flows from a specific pool of underlying assets. ABS and MBS assets may be highly illiquid and therefore prone to substantial price volatility. Unless otherwise specifically stated for a Fund, ABS and/or MBS will not represent more than 20% of the Net Asset Value of a Fund. Exchange Rates The Funds may invest in securities denominated in a number of different currencies other than the Base Currency in which the Funds are denominated. Changes in foreign currency exchange rates may adversely affect the value of a Fund s investments and the income thereon. Contingent securities Aberdeen Global may invest in contingent securities structured as Contingent Convertible Securities also known as CoCos. A contingent convertible security is a hybrid debt security either convertible into equity at a predetermined share price, written down or written off in value based on the specific terms of the individual security if a pre-specified trigger event occurs. Contingent convertible securities are subject to the risks associated with bonds and equities, and to the risks specific to convertible securities in general. Contingent convertible securities are also subject to additional risks specific to their structure including: 4 Aberdeen Global and the Funds currently do not intend to enter into any Repurchase and Reverse Repurchase Agreements. If Aberdeen Global intends to change this policy, Aberdeen Global will seek the SFC s prior approval and provide Shareholders with prior written notification of not less than one month (or such other period as the SFC may require)

84 Conversion risk In some cases, the issuer may cause a convertible security to convert to common stock. If a convertible security converts to common stock, a Fund may hold such common stock in its portfolio even if it does not ordinarily invest in common stock. Trigger level risk Trigger levels differ and determine exposure to conversion risk depending on the distance of the capital ratio to the trigger level. It might be difficult for the Investment Adviser of the relevant Fund to anticipate the triggering events that would require the debt to convert into equity. Capital structure inversion risk Contingent convertible securities are typically structurally subordinated to traditional convertible bonds in the issuer s capital structure. In certain scenarios, investors in contingent convertible securities may suffer a loss of capital ahead of equity holders or when equity holders do not. Written down risk In some cases, the issuer may cause a convertible security to be written down in value based on the specific terms of the individual security if a pre-specified trigger event occurs. There is no guarantee that a Fund will receive return of principal on contingent convertible securities. Yield / Valuation risk The valuation of contingent convertible securities is influenced by many unpredictable factors such as: (i) (ii) (iii) (iv) Liquidity risk the creditworthiness of the issuer and the fluctuations in the issuer s capital ratios; the supply and demand for contingent convertible securities; the general market conditions and available liquidity; and the economic, financial and political events that affect the issuer, the market it is operating in or the financial markets in general. Convertible securities are subject to liquidity risk. Coupon cancellation risk In addition, coupon payments on contingent convertible securities are discretionary and may be cancelled by the issuer at any point, for any reason, and for any length of time. The discretionary cancellation of payments is not an event of default and there are no possibilities to require re-instatement of coupon payments or payment of any passed missed payments. Coupon payments may also be subject to approval by the issuer s regulator and may be suspended in the event there are insufficient distributable reserves. As a result of uncertainty surrounding coupon payments, contingent convertible securities may be volatile and their price may decline rapidly in the event that coupon payments are suspended. Call extension risk Contingent convertible securities are subject to extension risk. Contingent convertible securities are perpetual instruments and may only be callable at predetermined dates upon approval of the applicable regulatory authority. There is no guarantee that a Fund will receive return of principal on contingent convertible securities. Unknown risk Convertible contingent securities are a newer form of instrument and the market and regulatory environment for these instruments is still evolving. As a result it is uncertain how the overall market for contingent convertible securities would react to a trigger event or coupon suspension applicable to one issuer

85 Taxation Investors should note in particular that the proceeds from the sale of securities in some markets or the receipt of any dividends or other income may be or may become subject to tax, levies, duties or other fees or charges imposed by the authorities in that market, including taxation levied by withholding at source. Tax law and practice in certain countries into which a Fund invests or may invest in the future (in particular Russia and other emerging markets) is not clearly established. Tax law and practice may equally be subject to change in developed countries, where governments implement fiscal reforms. It is possible therefore that the current interpretation of the law or understanding of practice might change, or that the law might be changed with retrospective effect. It is therefore possible that Aberdeen Global could become subject to additional taxation in such countries that is not anticipated either at the date of the Summary Prospectus or when investments are made, valued or disposed of. In relation to Brazil, investors should be aware that the Brazilian Presidential Decree no /10, as amended from time to time, details the current IOF tax rate (Tax on Financial Operations), that applies to foreign exchange inflows and outflows. Funds investing in Brazil, where IOF tax is not offset by a dilution adjustment may see the Net Asset Value per Share reduced as a consequence. Technology Funds The technology and new media industries are at a very early stage of development, and many of the companies in these industries have a very short history. Rapid changes in technology could render obsolete the products and services offered by the companies in which the Aberdeen Global Technology Equity Fund invests, and cause severe or complete declines in the prices of the securities of those companies. Socially Responsible Funds Whilst the Investment Manager will seek to influence the management of investee companies and to enhance the social responsibility of the investee company in its operation, as a minority shareholder, the Investment Manager's ability to bring about change in the investee company's stance may be limited and there can be no assurance of such efforts being successful. Nominee Arrangement By investing in the Funds through Aberdeen Nominees Services Limited, you will have a direct contractual relationship with Aberdeen Nominees Services Limited and will not have any direct contractual rights against Aberdeen Global and/or the Global Distributor. RBC Investor Services Trust Hong Kong Limited is appointed by Aberdeen International Fund Managers Limited, the Investment Manager and Global Distributor of Aberdeen Global, to provide certain administrative support and nominee services to Shareholders of Aberdeen Global. RBC Investor Services Trust Hong Kong Limited will be responsible for liaising with Aberdeen Global and/or the Global Distributor on your behalf should you have any queries or complaints in relation to your shareholdings. Investor risk Substantial redemptions of shares (which are more likely to occur in adverse economic or market conditions) could require the Investment Manager to liquidate investments of a Fund more rapidly than otherwise desirable in order to raise the necessary cash to fund the redemptions and to achieve a position appropriately reflecting the smaller equity base. This could adversely affect the Net Asset Value of both shares being redeemed and of remaining shares. The Investment Manager is entitled under certain circumstances specified in the Articles of Incorporation to suspend dealings in the shares. In this event, valuation of the net asset value will be suspended, and any affected redemption applications and payment of redemption proceeds will be deferred. The Investment Manager may compulsorily redeem all or a portion of an investor s holding in a Fund. Such compulsory redemption may create adverse tax and/or economic consequences to the investor depending on the timing thereof. No person will have any obligation to reimburse any portion of an investor s losses upon any termination of a Fund, compulsory redemption or otherwise. Risk of termination of a Fund In the event of the early termination of a Fund, the Fund would have to distribute to the investors their pro rata interest in the assets of the Fund. It is possible that at the time of such sale or distribution, certain investments held by the Fund may be worth less than the initial cost of such investments, resulting in a substantial loss to the investors. Moreover, any organisational expenses with regard to the Fund that had not yet become fully amortised would be debited against Fund capital at that time

86 Risks relating to payments of dividends out of capital Investors should note that where dividends are declared and paid out of a Fund, the Board of Directors may at its discretion pay dividends out of the capital of the Fund or pay dividends out of gross income while charging/ paying all or part of the Fund s fees and expenses to/ out of the capital of the Fund, resulting in an increase in distributable income for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividends out of capital. 5 Payment of dividends out of capital amounts to a return or withdrawal of part of an investor s original investment or from any capital gains attributable to that original investment. Any distributions involving payment of dividends out of the Fund s capital or payment of dividends effectively out of the Fund s capital (as the case may be) may result in an immediate reduction of the net asset value per share. Investing in Derivatives There are certain investment risks which apply in relation to techniques and instruments which the Investment Adviser may employ if disclosed in relation to any Fund, as part of principal investment policy including, but not limited to, those described in this Summary Prospectus. However, should the Investment Adviser s expectations in employing such techniques and instruments be incorrect, a Fund may suffer a substantial loss, having an adverse effect on the net asset value of the Shares. Financial Derivative Instruments and Investment Strategies Investments of a Fund may be composed of securities with varying degrees of volatility and may comprise, from time to time, financial derivative instruments. Since financial derivative instruments may be geared instruments, their use may result in greater fluctuations of the net asset value of the Fund concerned. A Fund may use financial derivative instruments to attempt to reduce the overall risk of its investments or, if disclosed in relation to any Fund, may be used as part of the principal investment policies and strategies. In adverse situation, the Fund s use of financial derivative instruments may become ineffective and the Fund may suffer significant losses. A Fund s ability to use these strategies may be limited by market conditions, regulatory limits and tax consideration. Use of these strategies involves special risks, including: dependence on the Investment Adviser s ability to predict movements in the price of the underlying security; imperfect correlation between the movements in securities or currency on which a derivatives contract is based and movements in the securities or currencies in the relevant Fund; the absence of a liquid market for any particular instrument at any particular time; the degree of leverage inherent in futures trading (i.e. the loan margin deposits normally required in futures trading means that futures trading may be highly leveraged). Accordingly, a relatively small price movement in a futures contract may result in an immediate and substantial loss to a Fund; possible impediments to the ability to meet repurchase requests or other short term obligations because a percentage of a Fund s assets will be segregated to cover its obligations. Financial Derivative Instruments A Fund may invest in financial derivative instruments as part of its strategy. As detailed under section "Investment Techniques and Instruments and Use of Financial Derivative Instruments" Aberdeen Global may use, under certain conditions, options on indices and interest rates, bond futures and futures on indices and interest rates for investment purposes. Also, the Funds may hedge market and currency risks using futures, options and forward exchange contracts within the limits described in the section "Investment Techniques and Instruments and Use of Financial Derivative Instruments". In adverse situation, the Fund s use of financial derivative instruments may become ineffective and the Fund may suffer significant losses, and thereby have an adverse effect on the net asset value of the Fund. 5 If Aberdeen Global intends to change this policy, Aberdeen Global will seek the SFC s prior approval and provide Shareholders with prior written notification of not less than one month (or such other period as the SFC may require)

87 Different financial derivative instruments involve different levels of exposure to risk and can entail a high degree of leverage. In particular, investors should be aware of the following: a) Futures Transactions in futures involve the obligation to make, or to take, delivery of the underlying asset of the contract at a future date, or in some cases to settle the Fund s position with cash. They carry a high degree of risk. The gearing or leverage often obtainable in futures trading means that a small deposit or down payment can lead to large losses as well as gains. It also means that a relatively small market movement can lead to a proportionately much larger movement in the value of the Fund s investment, and this can work against the Fund as well as for the Fund. Futures transactions have a contingent liability, and investors should be aware of the implications of this, in particular the margining requirements. b) Swaps The Fund may enter into swap agreements. Swap agreements can be individually negotiated and structured to include exposure to a variety of different types of investments or market factors. Depending on their structure, swap agreements may increase or decrease the Fund s exposure to strategies, equity securities, long term or short term interest rates, foreign currency values, corporate borrowing rates or other factors. Swap agreements can take many different forms and are known by a variety of names. Depending on how they are used, swap agreements may increase or decrease the overall volatility of the Fund. The most significant factor in the performance of swap agreements is the change in the individual equity values, the Fund s net asset value, specific interest rate, currency or other factors that determine the amounts of payments due to and from the counterparties. If a swap agreement calls for payments by the Fund, the Fund must be prepared to make such payments when due. In addition, if a counterparty s creditworthiness declines, the value of swap agreements with such counterparty can be expected to decline, potentially resulting in losses to the Fund. c) Options There are many different types of options with different characteristics subject to different conditions: (i) (ii) Buying Options Buying options involves less risk than selling options because, if the price of the underlying asset moves against the Fund, the Fund can simply allow the option to lapse. The maximum loss is limited to the premium, plus any commission or other transaction charges. However, if the Fund buys a call option on a futures contract and the Fund later exercises the option, the Fund will acquire the future. This will expose the Fund to the risks described under "Futures" and "Contingent Liability Transactions". Writing Options If the Fund writes an option, the risk involved is considerably greater than buying options. The Fund may be liable for margin to maintain its position and a loss may be sustained well in excess of any premium received. By writing an option, the Fund accepts a legal obligation to purchase or sell the underlying asset if the option is exercised against the Fund, however far the market price has moved away from the exercise price. If the Fund already owns the underlying asset which the Fund has contracted to sell (known as "covered call options") the risk is reduced. If the Fund does not own the underlying asset (known as "uncovered call options") the risk can be unlimited. Subject to the overall limit on leverage which may be utilised by the Fund, there is no restriction on the Fund s ability to write options. Certain options markets operate on a margined basis under which buyers do not pay the full premium on their option at the time they purchase it. In this situation the Fund may subsequently be called upon to pay margin on the option up to the level of its premium. If the Fund fails to do so as required, the Fund s position may be closed or liquidated in the same way as a futures position. (iii) Contracts for Differences Futures and options contracts can also be referred to, as well as include, contracts for differences. These can be options and futures on any index, as well as currency and interest rate swaps. However, unlike other futures and options, these contracts can only be settled in cash. Investing in a contract for differences carries the same risks as investing in a future or option. Transactions in contracts for differences may also have a contingent liability and an investor should be aware of the implications of this as set out below

88 (iv) Off-Exchange Transactions While some off-exchange markets are highly liquid, transactions in off-exchange, or non transferable, derivatives may involve greater risk than investing in on-exchange derivatives instruments because there is no exchange market on which to close out an open position. It may be impossible to liquidate an existing position, to assess the value of the position arising from an off-exchange transaction or to assess the exposure to risk. Bid and offer prices need not be quoted, and even where they are, they will be established by dealers in these instruments and, consequently, it may be difficult to establish what is a fair price. (v) Contingent Liability Transactions Contingent liability transactions which are margined require the Fund to make a series of payments against the purchase price, instead of paying the whole purchase price immediately. If the Fund trades in futures, contracts for differences or sells options, the Fund may sustain a total loss of the margin it deposits with the broker to establish or maintain a position. If the market moves against the Fund, the Fund may be called upon to pay substantial additional margin at short notice to maintain the position. If the Fund fails to do so within the time required, its position may be liquidated at a loss and the Fund will be liable for any resulting deficit. Even if a transaction is not margined, it may still carry an obligation to make further payments in certain circumstances over and above any amount paid when the contract was entered into. Contingent liability transactions which are not traded on or under the rules of a recognised or designated investment exchange may expose you to substantially greater risks. (vi) Suspensions of Trading Under certain trading conditions it may be difficult or impossible to liquidate a position. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange trading is suspended or restricted. Placing a stop-loss order will not necessarily limit losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price. (vii) Clearing House Protections On many exchanges, the performance of a transaction by a broker (or the third party with whom he is dealing on the Fund s behalf) is guaranteed by the exchange or its clearing house. However, this guarantee is unlikely in most circumstances to cover the Fund as the customer and may not protect the Fund if the broker or another party defaults on its obligations to the Fund. There is no clearing house for traditional options, nor normally for off-exchange instruments which are not traded under the rules of a recognised or designated investment exchange. (viii) Insolvency A derivative broker s insolvency or default, or that of any other brokers involved with the Fund s transactions, may lead to positions being liquidated or closed out without the Fund s consent. In certain circumstances, the Fund may not get back the actual assets which it lodged as collateral and the Fund may have to accept any available payment in cash. Currency Forward Contracts The Fund may enter into currency forward contracts for hedging and/or investment purposes. Forward contracts are not traded on exchanges and are not standardized; rather, banks and dealers act as principals in these markets, negotiating each transaction on an individual basis. Trading in currency forward contracts is substantially unregulated; there is no limitation on daily price movements and speculative position limits are not applicable. The principals who deal in the forward markets are not required to continue to make markets in the currencies or commodities they trade and these markets can experience periods of illiquidity, sometimes of significant duration. Market illiquidity or disruption could result in major losses to the Fund. Furthermore, currency forward contracts do not eliminate fluctuations in the prices of the Fund's securities or in foreign exchange rates, or prevent loss if the prices of these securities should decline. Performance may be strongly influenced by movements in foreign exchange rates because currency positions held by the Fund may not correspond with securities positions held. Forward currency transactions shall only be entered into in the currencies in which the Fund normally transacts business. This hedging strategy may substantially limit holders of a specific class from benefiting if the class currency falls against the base currency and/or the currency in which the assets of the Fund are denominated. In such circumstances, Shareholders of the relevant Class may be exposed to fluctuations in the Net Asset Value per Unit reflecting the gains/losses on and the costs of the relevant financial instruments

89 The assets of the Fund will be invested in securities of companies in various countries and income received in a variety of currencies. The value of assets of the Fund as measured in its Base Currency may be affected unfavorably by fluctuations in currency rates and exchange control regulations. RISKS RELATING TO INVESTMENT IN OTHER FUNDS Investing in other collective investment schemes A Fund incurs costs of its own management and administration comprising the fees paid to the Management Company and other service providers. It should be noted that, in addition, such a Fund incurs similar costs in its capacity as an investor in UCITS or Other UCI s (together referred to as Investment Funds ) which in turn pay similar fees to their manager and other service providers. Furthermore, the investment strategies and techniques employed by certain Investment Funds may involve frequent changes in positions and a consequent portfolio turnover. This may result in brokerage commission expenses which exceed significantly those of other Investment Funds of comparable size. Investment Funds may be required to pay performance fees to their manager. Under these arrangements the managers will benefit from the appreciation, including unrealised appreciation of the investments of such Investment Funds, but they may not be similarly penalised for realised or unrealised losses. As a consequence, the direct and indirect costs borne by a Fund investing in Investment Funds are likely to represent a higher percentage of the Net Asset Value than would typically be the case for a Fund which invests directly in the relevant underlying investments (and not through other Investment Funds). As a shareholder of another collective investment scheme, a Fund would bear, along with other shareholders, its pro rata portion of the expenses of the other collective investment scheme, including management and/or other fees (excluding subscription or redemption charges). These fees would be in addition to the Management Fee and other expenses which a Fund bears directly in connection with its own operations. Reliance on third party fund management A Fund investing in other collective investment schemes will not have an active role in the day-to-day management of the collective investment schemes in which a Fund invests. Moreover, a Fund will generally not have the opportunity to evaluate the specific investments made by any underlying collective investment schemes before they are made. Accordingly, the returns of a Fund will primarily depend on the performance of these unrelated underlying fund managers and could be substantially adversely affected by the unfavourable performance of such underlying fund managers. Investing in Real Estate Investing in the securities of companies principally engaged in the real estate industry will entail risks normally associated with owning real estate directly. These risks include, but are not limited to: the cyclical nature of real estate values; risks related to general and local economic conditions; overbuilding; low tenancy occupation rates and increased competition; the level of property taxes and operating expenses, demographic trends; changes in zoning laws; casualty or condemnation losses; environmental risks; related party risks; increases in interest rates. An increase in interest rates will generally lead to an increase in the costs of financing, which could directly and indirectly reduce the value of a fund s investments. Convertible bond arbitrage Underlying fund managers may engage in convertible bond arbitrage. Positions intended to offset against each other may not move as expected. In addition to risks associated with fixed income investments, this strategy also has risks which are associated with equity investments. They include: (i) risks in takeovers or merger transactions, during which a convertible bond s conversion premium may decrease or be eliminated; (ii) short equity buy-in risk, since the strategy is typically long convertibles and short equities and is subject to possible short squeezes; and (iii) liquidity and trading spread risks. Although underlying fund managers are, generally, expected to hedge all equity exposure, there can be no assurance that an underlying fund manager will not, from time to time, have such exposures or that such hedges will be effective

90 RISKS RELATED TO INVESTMENT IN EMERGING MARKETS Investing in Russia and CIS Investments in Russia and CIS either through the Russian Trading System (RTS) and Moscow Interbank Currency Exchange (MICEX) or on other non-regulated Markets are subject to increased risk with regard to ownership and custody of securities. There are significant risks inherent in investing in Russia and the CIS including: (a) delays in settling transactions and the risk of loss arising out of the systems of securities registration and custody; (b) the lack of corporate governance provisions or general rules or regulations relating to investor protection; (c) pervasiveness of corruption, insider trading, and crime in the Russian and CIS economic systems; (d) difficulties associated in obtaining accurate market valuations of many Russian and CIS securities, based partly on the limited amount of publicly available information; (e) tax regulations are ambiguous and unclear and there is a risk of imposition of arbitrary or onerous taxes; (f) the general financial condition of Russian and CIS companies, which may involve particularly large amounts of inter-company debt; (g) banks and other financial systems are not well developed or regulated and as a result tend to be untested and have low credit ratings and (h) the risk that the governments of Russia and CIS member states or other executive or legislative bodies may decide not to continue to support the economic reform programs implemented since the dissolution of the Soviet Union. The concept of fiduciary duty on the part of a company s management is generally non-existent. Local laws and regulations may not prohibit or restrict a company s management from materially changing the company s structure without shareholder consent. Foreign investors cannot be guaranteed redress in a court of law for breach of local laws, regulations or contracts. Regulations governing securities investment may not exist or may be applied in an arbitrary and inconsistent manner. Evidence of legal title in many cases will be maintained in book-entry form and a Fund could lose its registration and ownership of securities through fraud, negligence or even oversight. Securities in Russia and in the CIS are issued only in book entry form and ownership records are maintained by registrars who are under contract with the issuers. The registrars are neither agents of, nor responsible to, Aberdeen Global, the Custodian or their local agents in Russia or in the CIS. Transferees of securities have no proprietary rights in respect of securities until their name appears in the register of holders of the securities of the issuer. The law and practice relating to registration of holders of securities are not well developed in Russia and in the CIS and registration delays and failures to register securities can occur. Although Russian and CIS sub-custodians will maintain copies of the registrar s records ( Records ) on its premises, such Records may not, however, be legally sufficient to establish ownership of securities. Further a quantity of forged or otherwise fraudulent securities, Records or other documents are in circulation in the Russian and CIS markets and there is therefore a risk that a Fund s purchases may be settled with such forged or fraudulent securities. In common with other emerging markets, Russia and the CIS have no central source for the issuance or publication of corporate actions information. The Custodian therefore cannot guarantee the completeness or timeliness of the distribution of corporate actions notifications. Although exposure to these equity markets is substantially hedged through the use of ADRs and GDRs, Funds may, in accordance with their investment policy, invest in securities which require the use of local depository or custodial services. Investing in China Some Funds may invest directly or indirectly in Chinese domestic securities market via various channels including the Qualified foreign institutional investor (QFII) or Renminbi Qualified Foreign Institutional Investor (RQFII) scheme. Other than risks involved in investments on an international basis and in emerging markets, as well as other risks of investments generally as described within this section which are applicable to investments in China, investors should also note the additional specific risks below. QFII/ RQFII regulatory risks Foreign investors can invest in Chinese domestic securities market through institutions that have obtained Qualified foreign institutional investor (QFII) or Renminbi Qualified Foreign Institutional Investor (RQFII) status within certain investment quotas as approved under and subject to applicable Chinese regulatory requirements. Actions of the relevant manager or issuer which violate QFII/RQFII regulations could result in the revocation of, or other regulatory action against, the relevant QFII/RQFII licence as a whole, and may impact the Fund s exposure to Chinese securities. In addition, a Fund may also be impacted by the rules and restrictions (including rules on investment restrictions, minimum investment holding periods, and repatriation of principal and profits), which may consequently have an adverse impact on the liquidity and/or investment performance of the Fund. The QFII/RQFII Regulations which regulate investments in China are relatively new, novel in nature and may be subject to further revisions in the future. The

91 application and interpretation of the QFII/RQFII Regulations are relatively untested and there is limited certainty as to how they will be applied. There is no assurance whether future revisions to the QFII/RQFII Regulations or their application may or may not adversely affect a Fund s investments in China. QFII /RQFII quota risk Investment by a Fund will be made and held through the QFII /RQFII quota granted to the Investment Adviser under the QFII /RQFII Regulations. The RQFII Regulations apply to RQFII quota(s) which may be obtained by the Investment Adviser as RQFII from time to time for a Fund or other investors as a whole, and not simply to investments made by a Fund. There can be no assurance that the Investment Adviser will be able to obtain access to a sufficient QFII /RQFII quota to meet all proposed investments of the Fund. It is possible that a Fund may not be able to accept additional subscriptions due to this limitation and would not be able to achieve further economies of scale or otherwise take advantage of the increased capital base. Furthermore, investors should be aware that violations of the QFII/RQFII Regulations on investments arising out of activities of the Investment Adviser could result in the revocation of, or other regulatory actions in respect of the quota. Should the Investment Adviser lose its QFII /RQFII status, or the Investment Adviser's QFII /RQFII quota be revoked or reduced, a Fund may not be able to invest in QFII /RQFII Eligible Securities which would likely have a material adverse effect on such Fund. Likewise, limits on investment in China A-Shares are applied in relation to the QFII /RQFII quota held by the Investment Adviser as a whole. Hence the ability of a Fund to make investments and/or repatriate monies from the Investment Adviser's QFII /RQFII quota may be affected adversely by the investments, performance and/or repatriation of monies invested by other investors utilising any additional QFII /RQFII quota obtained by the Investment Adviser in the future. QFII/RQFII Custody risks and PRC Broker risks The Custodian and the Investment Adviser (in its capacity as a QFII /RQFII) have appointed the PRC Custodian as the custodian in respect of the QFII /RQFII Eligible Securities, pursuant to relevant laws and regulations. Securities including RMB denominated fixed income instruments, China A-Shares or other permissible investments will be maintained by the PRC Custodian pursuant to PRC regulations through securities accounts with CSDCC, China Central Depository & Clearing Co. Ltd, Shanghai Clearing House Co., Ltd. or such other relevant depositories in such name as may be permitted or required in accordance with PRC law. According to the RQFII Regulations and market practice, the securities and cash accounts for a fund in the PRC are to be maintained in the name of "the full name of the RQFII the name of the Fund ". Moreover, given that pursuant to the RQFII Regulations, the Investment Adviser as RQFII will be the party entitled to the securities (albeit that this entitlement does not constitute an ownership interest), such RQFII Eligible Securities of a Fund may be vulnerable to a claim by a liquidator of the Investment Adviser and may not be as well protected as if they were registered solely in the name of a Fund concerned. In particular, there is a risk that creditors of the Investment Adviser may incorrectly assume that a Fund s assets belong to the Investment Adviser and such creditors may seek to gain control of a Fund s assets to meet the Investment Adviser's liabilities owed to such creditors. Investors should note that cash deposited in the cash account of a Fund concerned with the PRC Custodian will not be segregated but will be a debt owing from the PRC Custodian to a Fund as a depositor. Such cash will be co-mingled with cash belonging to other clients of the PRC Custodian. In the event of bankruptcy or liquidation of the PRC Custodian, a Fund concerned will not have any proprietary rights to the cash deposited in such cash account, and a Fund will become an unsecured creditor, ranking pari passu with all other unsecured creditors, of the PRC Custodian. The Fund concerned may face difficulty and/or encounter delays in recovering such debt, or may not be able to recover it in full or at all, in which case the Fund will suffer losses. The Investment Adviser also selects the PRC Broker to execute transactions for a Fund in the PRC markets. The Investment Adviser can appoint up to three PRC Brokers per market (the Shanghai Stock Exchange and the Shenzhen Stock Exchange). Should, for any reason, a Fund's ability to use the relevant PRC Broker be affected, this could disrupt the operations of a Fund. A Fund may also incur losses due to the acts or omissions of either the relevant PRC Broker(s) or the PRC Custodian in the execution or settlement of any transaction or in the transfer of any funds or securities. Subject to the applicable laws and regulations in the PRC, the Custodian will make arrangements to ensure that the PRC Custodian has appropriate procedures to properly safe-keep a Fund's assets. In the event of any default of either the relevant PRC Broker or the PRC Custodian (directly or through its delegate) in the execution or settlement of any transaction or in the transfer of any funds or securities in the PRC, a Fund may encounter delays in recovering their assets which may in turn adversely impact the net asset value of such Fund

92 Please also refer to "Taxation of Chinese Equity and Bonds "section under" Taxation". China Interbank Bond Market The China bond market is made up of the interbank bond market and the exchange listed bond market. The China Interbank bond market was established in Currently, more than 90% of PRC bond trading activity takes place in the China Interbank bond market, and the main products traded in this market include government bonds, central bank papers, policy bank bonds and corporate bonds. The China Interbank bond market is still in a stage of development and the market capitalisation and trading volume may be lower than those of more developed markets. Market volatility and potential lack of liquidity due to low trading volume of certain debt securities may result in prices of debt securities traded on such market fluctuating significantly. Funds investing in such market are therefore subject to liquidity and volatility risks and may suffer losses in trading PRC bonds. The bid and offer spreads of the prices of the PRC bonds may be large, and the relevant Funds may therefore incur significant trading and realisation costs and may even suffer losses when selling such investments. To the extent that a Fund transacts in the China Interbank bond market, the Fund may also be exposed to risks associated with settlement procedures and default of counterparties. The counterparty which has entered into a transaction with the Fund may default in its obligation to settle the transaction by delivery of the relevant security or by payment for value. The China Interbank bond market is also subject to regulatory risks. Due to irregularities in the China Interbank bond market trading activities, the China Government Securities Depository Trust & Clearing Co. (the central clearing entity) suspended new account opening on the China Interbank bond market for specific types of products. Although the Funds can be classified as mutual funds offered to the public and therefore were not affected, there is no assurance that future regulatory actions will not affect such funds. If accounts are suspended, or cannot be opened, the Funds' ability to invest in the China Interbank bond market will be limited and, after exhausting other trading alternatives, the Funds may suffer substantial losses as a result. Investing in Emerging Markets In emerging markets, in which some of the Funds will invest, the legal, judicial and regulatory infrastructure is still developing and there is much legal uncertainty both for local market participants and their overseas counterparts. Some markets carry significant risks for investors who should therefore ensure that, before investing, they understand the relevant risks and are satisfied that an investment is suitable. The following statements are intended to summarise some of the risks in emerging markets, but are not exhaustive, nor do they offer advice on the suitability of investments. Political and Economic Risks Economic and / or political instability could lead to legal, fiscal and regulatory changes or the reversal of legal/fiscal/regulatory/market reforms. Assets could be compulsorily acquired without adequate compensation. A country s external debt position could lead to the sudden imposition of taxes or exchange controls. High inflation can mean that businesses have difficulty obtaining working capital. Local management are often inexperienced in operating companies in free market conditions. A country may be heavily dependent on its commodity and actual resource exports and therefore be vulnerable to weaknesses in world prices for these products. The political risks and adverse economic circumstances are more likely to arise in emerging markets, putting the value of your investment at risk. Legal Environment The interpretation and application of decrees and legislative acts can be often contradictory and uncertain particularly in respect of matters relating to taxation. Legislation could be imposed retrospectively or may be issued in the form of internal regulations which the public may not be made aware of. Judicial independence and political neutrality cannot be guaranteed. State bodies and judges may not adhere to the requirements of the law and the relevant contract. There is no certainty that investors will be compensated in full or in part for any damage incurred or loss suffered as a result of legislation imposed or decisions of state bodies or judges

93 Accounting Practices The accounting and audit systems may not accord with international standards. Even when reports have been brought into line with international standards, they may not always contain correct information. Obligations of companies to publish financial information may also be limited. Shareholder Risk Existing legislation may not yet be adequately developed to protect the rights of minority shareholders. There is generally no concept of fiduciary duty to shareholders on the part of management. There may be limited recourse for violation of such shareholders rights as pertain. Market and Settlement Risks The securities markets of some countries lack the liquidity, efficiency, regulatory and supervisory controls of more developed markets. Lack of liquidity may adversely affect the value or ease of disposal of assets. The share register may not be properly maintained and the ownership interests may not be, or remain, fully protected. Registration of securities may be subject to delay and during the period of delay it may be difficult to prove beneficial ownership of the securities. The provision for custody of assets may be less developed than in other more mature markets and thus provides an additional level of risk for the Funds. Price Movement and Performance Factors affecting the value of securities in some markets cannot easily be determined. Investment in securities in some markets carries a high degree of risk and the value of such investments may decline or be reduced to zero. Currency Risk Conversion into foreign currency or transfer from some markets of proceeds received from the sale of securities cannot be guaranteed. The value of the currency in some markets, in relation to other currencies, may decline such that the value of the investment is adversely affected. Exchange rate fluctuations may also occur between the trade date for a transaction and the date on which the currency is acquired to meet settlement obligations. Execution and Counterparty Risk In some markets there may be no secure method of delivery against payment which would avoid exposure to counterparty risk. It may be necessary to make payment on a purchase or delivery on a sale before receipt of the securities or, as the case may be, sale proceeds. Taxation Investors should note in particular that the proceeds from the sale of securities in some markets or the receipt of any dividends or other income may be or may become subject to tax, levies, duties or other fees or charges imposed by the authorities in that market, including taxation levied by withholding at source. Tax law and practice in certain countries into which a Fund invests or may invest in the future (in particular Russia and other emerging markets) is not clearly established. Tax law and practice may equally be subject to change in developed countries, where governments implement fiscal reforms. It is possible therefore that the current interpretation of the law or understanding of practice might change, or that the law might be changed with retrospective effect. It is therefore possible that Aberdeen Global could become subject to additional taxation in such countries that is not anticipated either at the date of the Prospectus or when investments are made, valued or disposed of

94 RISKS RELATING TO DEBT Credit Risk Credit risk, a fundamental risk relating to all debt or debt related securities as well as money market instruments, is the chance that an issuer will fail to make principal and interest payments when due. Issuers with higher credit risk typically offer higher yields for this added risk. Conversely, issuers with lower credit risk typically offer lower yields. Generally, government securities are considered to be the safest in terms of credit risk, while corporate debt, especially those with poorer credit ratings, have the highest credit risk. Changes in the financial condition of an issuer, changes in economic and political conditions in general, or changes in economic and political conditions specific to an issuer, are all factors that may have an adverse impact on an issuer s credit quality and security values. Interest Rate Risk Funds that invest in debt securities or Money Market Instruments are subject to interest rate risk. The value of a debt or debt related security will generally increase when interest rates fall and decrease in value when interest rates rise. Interest rate risk is the chance that such movements in interest rates will negatively affect the value of a security or, in a Fund s case, its Net Asset Value. Securities with greater interest rate sensitivity and longer maturities tend to produce higher yields, but are subject to greater fluctuations in value. As a result, securities with a longer maturity tend to offer higher yields for this added risk. While changes in interest rates may affect a Fund s interest income, such changes may positively or negatively affect the Net Asset Value of a Fund s Shares on a daily basis. Pre-Payment Risk Certain debt or debt related securities, such as mortgage-backed and asset-backed securities, give an issuer the right to call its securities before their maturity date. The possibility of such prepayment risk may force the Fund to reinvest the proceeds of such investments in securities offering lower yields. Investing in High Yield Bonds High yield bonds are regarded as being predominately speculative as to the issuer s ability to make payments of principal and interest. Investment in such securities involves substantial risk. Issuers of high yield debt securities may be highly leveraged and may not have available to them more traditional methods of financing. An economic recession may adversely affect an issuer s financial condition and the market value of high yield debt securities issued by such entity. The issuer s ability to service its debt obligations may be adversely affected by specific issuer developments, or the issuer s inability to meet specific projected business forecasts, or the unavailability of additional financing. In the event of bankruptcy of an issuer, Aberdeen Global may experience losses and incur costs. Downgrading / Upgrading Risk The value of a bond will fall in the event of the default or reduced credit rating of the issuer, similarly an increase in credit rating can lead to capital appreciation. Generally the higher the rate of interest on any bond, the higher the perceived credit risk of the issuer. Investment Grade bonds may be subject to the risk of being downgraded to Sub-Investment Grade bonds. Inversely, a Sub-Investment Grade Bond may be upgraded to Investment Grade status. If an Investment Grade bond is downgraded to Sub-Investment Grade, or if a Sub-Investment Grade Bond is upgraded to Investment Grade, the relevant asset will not be sold unless, in the opinion of the Investment Adviser, it is in the interest of Shareholders to do so. Bonds which are rated below Investment Grade, have a lower credit rating or are unrated are generally considered to have a higher credit risk and a greater possibility of default than more highly rated bonds. If the issuer defaults, or such bonds or their underlying assets cannot be realised, or performed badly, investor may suffer substantial losses. In addition, the market for bonds which are rated below Investment Grade, have a lower credit rating or are unrated generally has lower liquidity and is less active than that for higher rated bonds and a Fund s ability to liquidate its holdings in response to changes in the economy or the financial markets may be further limited by such factors as adverse publicity and investor perceptions. Sub-Investment Grade Some Funds are permitted to invest in Sub-Investment Grade securities. Investment in such securities involves greater price volatility and risk of loss of principal and income than investment in securities of a higher investment grade quality. Unrated Securities Some Funds are permitted to invest in unrated securities which involve higher risks and are more sensitive to adverse changes in general economic conditions and in the industries in which the issuers are engaged and to changes in the

95 financial conditions of the issuers of such securities. Investment in unrated securities means that the relevant Fund must rely on the Investment Adviser s credit assessment of such securities and is in particular subject to a high credit risk and a high risk of default. Sovereign Debt Risk Certain developed and developing countries are especially large debtors to commercial banks and foreign governments. Investment in debt obligations ( Sovereign Debt ) issued or guaranteed by such governments or their agencies and instrumentalities ( governmental entities ) involves a higher degree of risk. The governmental entity that controls the repayment of Sovereign Debt may not be able or willing to repay the principal and/or interest when due in accordance with the terms of such debt. A governmental entity s willingness or ability to repay principal and interest due in a timely manner may be affected by, among other factors, its cash flow situation, the extent of its foreign reserves, the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, the governmental entity s policy towards the International Monetary Fund and the political constraints to which a governmental entity may be subject. Governmental entities may also be dependent on expected disbursements from foreign governments, multilateral agencies and others abroad to reduce principal and interest arrearage on their debt. The commitment on the part of these governments, agencies and others to make such disbursements may be conditioned on a governmental entity s implementation of economic or fiscal reforms and/or economic performance and the timely service of such debtor s obligations. Failure to implement such reforms, achieve such levels of economic performance or repay principal or interest when due may result in the cancellation of such third parties commitments to lend funds to the governmental entity, which may further impair such debtor s ability or willingness to service its debt on a timely basis. Consequently, governmental entities may default on their Sovereign Debt. Holders of Sovereign Debt, including a Fund, may be requested to participate in the rescheduling of such debt and to extend further loans to governmental entities. There is no bankruptcy proceeding by which Sovereign Debt on which a governmental entity has defaulted may be collected in whole or in part. Risks Related To The European Sovereign Debt Crisis A Fund may have investment exposure to Europe in the context of the investment objective and strategy that it is pursuing. In light of the fiscal conditions and concerns on sovereign debt of certain European countries, the Fund may be subject to a number of risks arising from a potential crisis in Europe. The crisis could potentially unfold in a number of ways, a single country may exit the Eurozone (the Eurozone is a union of 17 European countries that have adopted the Euro as their single currency), several countries may exit the Eurozone at the same time, a sovereign within the Eurozone may default or any combination of these or another economic or political event may occur, possibly then ultimately leading to the partial or full break-up of the Eurozone, and potentially the Euro currency. Such crisis may have negative impact on the Fund (such as default or downgrading of the security issued by a sovereign issuer and an increased amount of volatility, liquidity, price and currency risk associated with investments in Europe to which the Fund has exposure). Where a Fund hedges foreign currency exchange risks within its portfolio, any crisis conditions may result in the Fund not being able to implement its chosen portfolio hedging strategy either due to a lack of market liquidity, significantly increased trading costs or inaccessibility to appropriate currency hedging instruments. The performance and value of the Fund could deteriorate should there be any adverse credit events in the European region and this impact may be particularly strong if a downgrade of the sovereign credit rating of a European country, or a default or bankruptcy of a sovereign, occurs. Should such an event lead a country or a number of countries to cease using the Euro as their local currency, those countries may revert back to their former (or another) currency, which may lead to additional performance, legal and operational risks to the Fund and may ultimately negatively impact the value of the Fund. While the governments of many European countries, the European Commission, the European Central Bank, the International Monetary Fund and other authorities are taking measures (such as undertaking economic reforms and imposing austerity measures on citizens) to address the current fiscal conditions and concerns these measures may not have the desired effect, and the future stability and growth of Europe is therefore uncertain. If a crisis does occur economic recovery may take some time and future growth will be affected. The performance and value of the Fund may potentially be adversely affected by any or all of the above factors, or there may be unintended consequences in addition to the above arising from the potential European crisis that adversely affect the performance and value of the Fund. It is also possible that a large number of investors could decide to submit applications to redeem the shares of the Fund at the same time. Investors also need to bear in mind that the events in Europe may spread to other parts of the world, affecting the global financial system and other local economies, and ultimately adversely affecting the performance and value of the Fund

96 MINIMUM INVESTMENT For Class A, Class C, Class D, Class E, Class F, Class S and Class U Shares (and the Base Currency Hedged versions of the corresponding Base Currency Exposure Share Classes), the minimum Investment Amount for any initial or subsequent investment in a Fund is US$1,500 or currency equivalent. For the Base Currency Short and Partial Base Currency Short versions of Base Currency Exposure Share Classes A, C, F and S Shares, the minimum investment amount for any initial investment in a Fund is US$200,000 or currency equivalent and the subsequent investment is US$1,500 or currency equivalent. For all Class H, Class G, Class I, Class N and Class Z Shares, the minimum Investment Amount for any initial investment in a Fund is US$1,000,000 or currency equivalent and the subsequent investment is US$10,000 or currency equivalent. The minimum holding for Class A, Class C, Class D, Class E, Class F, Class S and Class U Shares is US$500. The minimum holding for Class H, Class G, Class I, Class N and Class Z Shares is US$1,000,000. These minima may be waived at Aberdeen Global s discretion. TYPE OF SHARES Types of Shares The Shares relating to each Fund are issued in registered form and will be uncertificated. Shares are not available in bearer form. There are still bearer Shares in circulation which were issued historically by Aberdeen Global. According to the law of 28 July 2014 concerning the compulsory deposit and immobilisation of shares and units in bearer form, bearer Shares in issue need to be deposited, no later than 18 February 2016, with the Bearer Shares Depositary appointed by Aberdeen Global, Banque Internationale à Luxembourg. All bearer shares not deposited by 18 February 2016 shall be cancelled. Voting and financial rights relating to bearer Shares can only be exercised if such bearer Shares have been deposited and registered. The register shall in particular contain information such as the identification of the Shareholder, the number of Shares, the date of the deposit, any transfers of Shares with the date of such transfers and the conversion into registered shares, where relevant. Aberdeen Global has no intention to continue to have bearer Shares in issue. Following the deposit of bearer Shares, Aberdeen Global will convert the deposited bearer shares into registered shares and inscribe the Shareholders in the register of Shareholders unless they request to redeem their bearer Shares immediately following the deposit. Investors can restructure their portfolio without having to deal with the excessive paperwork associated with share certificates. Ownership of Shares is evidenced by an entry in Aberdeen Global s register of Shareholders. Shares may be issued in a sole name or in joint names - up to four joint names are possible. Shares in any Fund will normally be allotted (including Shares rounded to up to four decimal places, if appropriate, to the full value of the amount invested) upon completion of the application procedure described in the section Subscription for the Issue of Shares of this Summary Prospectus. Shares can be issued, switched or redeemed during any Dealing Day. Not all Funds will issue all Classes of Shares. However, investors should refer to for current details of which Classes of Shares are in issue. The Shares relating to each Fund are issued in the following main Classes, namely Class A, Class C, Class D, Class E, Class F, Class G, Class H, Class I, Class N, Class S, Class U and Class Z Shares. These Classes of Shares are further divided into Class A-1, Class C-1, Class D-1, Class E-1, Class F-1, Class G-1, Class H-1, Class I-1, Class N-1, Class S-1, Class U-1, and Class Z-1 income Shares and Class A-2, Class C-2, Class D-2, Class E-2, Class F-2, Class G-2, Class H-2, Class I-2, Class N-2, Class S-2, Class U-2 and Class Z-2 accumulation Shares. Class N Shares are not currently offered to the public in Hong Kong. Class A, Class C, Class D, Class F, Class G, Class I, Class N, Class S and Class Z Shares may also be made available in base currency exposure versions in such currencies as the Directors of Aberdeen Global may determine from time to time. The Share Classes of each Fund are offered at a price based on their Net Asset Value adjusted to reflect any applicable dealing charges plus, if applicable, an initial charge. The base currency exposure versions of Class A, Class C, Class D, Class

97 F, Class G, Class I, Class N, Class S and Class Z Shares are similarly offered at a price based on their Net Asset Value adjusted to reflect any applicable dealing charges plus, if applicable, an initial charge (for further details of the Share Price calculation see Appendix B Calculation of Net Asset Value). Class C Shares and the base currency exposure versions of Class C Shares of each Fund bear an annual distribution fee and Class C Shares are normally subject to a contingent deferred sales charge if redeemed within one year of issue. Class Z Shares and the base currency exposure versions of Class Z Shares bear no annual management fees. Share Prices, i.e., Net Asset Values per Share as adjusted to reflect dealing charges, for all Classes of Shares, in all Funds, are calculated on each Dealing Day. The single Share Price for each Fund and Class is the basis for all dealing transactions with the Funds. Class A, Class D, Class E, Class F, and Class U Shares and the base currency exposure versions of Class A, Class D Shares and Class F Shares are available to all investors. Class C and Class S Shares and the base currency exposure versions of such Shares are only available to investors whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates. Class H, Class I, Class N and Class Z Shares and any base currency exposure versions thereof are only available to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates (and additionally Class N Shares, and the base currency exposure versions thereof, may only be acquired by fund of funds type undertakings for collective investment in the form of unit trusts or corporate type funds, which are distributed primarily in Japan). Class G Shares and the base currency exposure versions thereof are only available to Institutional Investors who are approved by the Global Distributor and whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates which specifically references the G Share Class and has an effective date on or after the launch of such class. All Classes of Shares of all the Funds that are in issue may be listed on the Luxembourg Stock Exchange. Class A, Class C, Class F, Class G, Class I, Class S and Class Z Shares will be issued in the Base Currency of the relevant Fund. Class D Shares are Sterling denominated, Class E and Class H Shares are Euro denominated and Class N Shares are Japanese Yen denominated, Class U Shares are US Dollar denominated. Shares are quoted and dealt in the relevant Share Class designated currency denomination and in other currencies, including (without limitation) US Dollars, Sterling and Euro. For the purposes of being eligible for central clearing systems such as Clearstream or Euroclear and the National Securities Clearing Corporation (NSCC), which may require stock identification numbers or codes (which include a reference to the quoted and dealing currency of the Share in this code or number), these dealing currencies represent individual Share Classes in these systems. Shares quoted and dealt in currencies other than the relevant Share Class' designated currency denomination are not additional Share Classes in Aberdeen Global and must not be viewed as such. They are the Share Classes quoted and dealt in other currencies with the associated foreign exchange risk. For information on how to invest see the section on Subscription for the Issue of Shares. Base Currency Exposure Share Classes The Funds may offer base currency exposure Share Classes ( Base Currency Exposure Share Classes ) which seek to offer amended currency risk (which can generate greater or lesser risk depending on the Share Class currency and Fund currency exposures), by selling the Base Currency and buying the currency of the relevant Base Currency Exposure Share Class. The Base Currency Exposure Share Classes are categorised as follows depending on the exposure of the Fund to the Base Currency: (A) Base Currency Hedged Share Classes, where the Fund invests at least 80% of its assets in securities denominated in the Base Currency of the Fund (or hedged back to the Base Currency by the Investment Adviser), (B) Partial Base Currency Short Share Classes, where the Fund invests between 10-80% of its assets in securities denominated in the Base Currency of the Fund (or hedged back to the Base Currency by the Investment Adviser), and (C) Base Currency Short Share Classes, where the Fund invests less than 10% of its assets in securities denominated in the Base Currency of the Fund (or hedged back to the Base Currency by the Investment Adviser)

98 It should be noted that there may be periods of time when the actual exposure may be more or less than the stated levels above for a Base Currency Exposure Share Class due to a change in the assets in the portfolio of a Fund and/or as a result of redemption and subscription activities. In such circumstances, the category of the relevant Share Class described above will be subject to change. Investors in Base Currency Exposure Share Classes should refer to for details of the Base Currency Exposure Share Classes available for a Fund and its relevant category of exposure at any time. All Base Currency Exposure Share Classes seek to transpose the currency risk for investors from the Base Currency to the Base Currency Exposure Share Class currency, but will differ in their effect due to the extent that the Fund invests its assets in securities denominated in the Base Currency (or hedged back to the Base Currency by the Investment Adviser). Funds that offer Base Currency Exposure Share Classes which are categorised as Base Currency Hedged Share Classes (as described under (A) above) have a significant exposure to the Base Currency, and so the Base Currency Exposure Share Class will be effective in transposing a significant proportion of the Fund s currency exposure to the Base Currency Exposure Share Class currency, thereby offering a form of overall currency hedge. Funds that offer Base Currency Exposure Share Classes which are categorised as Partial Base Currency Short Share Classes (as described under (B) above) and Base Currency Short Share Classes (as described under (C) above) do not have a significant exposure to the Base Currency, and so will not be effective in transposing a significant proportion of the Fund s currency exposure to the Base Currency Exposure Share Class currency and thereby will not provide an overall currency hedge. It should be noted that the alignment between the currency exposure of the Fund s assets and the Base Currency of the Fund will vary over time and that currency gains and losses and corresponding returns may be more volatile than the other non-base Currency Exposure Share Classes in the same Fund. Accordingly, Shareholders must bear in mind that investing via Base Currency Exposure Share Classes will impact their investment if the Base Currency Exposure Share Class currency rises or falls against the Base Currency, and also if the Base Currency Exposure Share Class currency rises or falls against the currency in which some or all of the investments of the relevant Funds are denominated. The impact of currency movement could result in a Base Currency Exposure Share Class materially underperforming other non-base Currency Exposure Share Classes invested in the same Fund. It should be noted that regardless of the Base Currency Exposure Share Class category, the operational process of using forward foreign exchange contracts remains unchanged and the same process is employed for each type of Share Class, so performance and other characteristics of the Base Currency Exposure Share Classes will be unaffected any change in category resulting from a change in underlying assets. Aberdeen Global retains the right to redeem in full in cash or in kind any existing Base Currency Exposure Share Class in accordance with sections 7. "Compulsory Redemption-Dissolution" and 9. "In Specie Subscriptions & Redemptions" of Appendix C "General Information" to efficiently offer the currency exposure that it was designed to provide. General information regarding Base Currency Exposure Share Classes The Investment Advisers will utilise various techniques (see Appendix A Investment Techniques and Instruments and Use of Financial Derivative Instruments ) to manage the currency exposures as described herein, including financial swaps, futures, forward currency exchange contracts, options and other similar derivative transactions deemed appropriate in its discretion but which are within the limits laid down by applicable laws and regulations. The costs associated with Base Currency Exposure Share Class transactions (including transaction costs relating to the instruments and contracts used to implement the exposure) will be attributed to a specific Class and will be reflected in the Net Asset Value of that Class. An additional fee of up to 0.10% of the Net Asset Value may be charged by the Investment Manager to the relevant Base Currency Exposure Share Class for providing this currency exposure service, part of which fee may be allocated to third parties. Investors are reminded that there is no segregation of liability between Share Classes in the same Fund, so there is a remote risk that under certain circumstances, other Share Class holders of the same Fund will be exposed to liabilities arising from currency exposure transactions undertaken for a Base Currency Exposure Share Class which negatively impacts the Net Asset Value of these other Share Classes. Base Currency Exposure Share Classes contain additional risks which are set out in this Summary Prospectus under the General Risk Factors heading. The currency forwards used will be reviewed and placed monthly as required or at any other time that the Investment Adviser may deem appropriate. It is not possible to manage Base Currency Exposure fully or perfectly against market fluctuations and there is no assurance or guarantee that such Base Currency Exposure management will be effective. No intentional leveraging should result from the Base Currency Exposure share class currency transactions of a Class. However, Base Currency exposure management may for short periods result in a currency exposure in excess of the stated value of the Base Currency exposure Share Class (following a significant redemption for example)

99 Investors should note that a dilution adjustment may be charged on a Base Currency Exposure Share Class if the cash effect on the Net Asset Value as a result of currency forward activities exceeds 5% of the Net Asset Value of the Fund or any other threshold determined by the Board of Directors (having considered prevailing market conditions) of the issued Shares linked to that Fund. Investors should also note that the managing of the exposure of Base Currency Exposure Share Classes by the Investment Advisers is distinct from the strategies and techniques that may be adopted at the level of the portfolio of securities held within each Fund. Investors should refer to for further details before investing in a Base Currency Exposure Share Class. ISSUE, REDEMPTION AND SWITCHING OF SHARES TO AND BY HONG KONG RESIDENTS MARKET TIMING AND LATE TRADING Aberdeen Global is intended as a long-term investment vehicle. The Investment Manager applies a number of policies and procedures designed to protect the Funds from being adversely impacted by the trading strategies of investors including application of a dilution adjustment. Further information about the application of any dilution adjustment can be found in the Dilution Adjustment section below. Where the Investment Manager allows a reduced front-end charge on institutional or other similar trades, the trading strategies of the registered holders are closely monitored to ensure that in the event of short-term trading policies becoming apparent, the terms of business are reviewed. The Investment Manager believes that these policies provide significant protection to the Funds from short term trading. Late trading is illegal as it violates the provisions of this Summary Prospectus. The Board of Directors will use its reasonable endeavours to ensure that late trading cannot take place. The effectiveness of these procedures is closely monitored. DILUTION ADJUSTMENT The Board of Directors current policy is normally to impose a dilution adjustment to the Net Asset Value of each Class of Shares in the following circumstances: in respect of Shares redeemed on a particular Dealing Day, where the net redemptions of Shares linked to the Fund in which the redemption is instructed exceed 5% of the Net Asset Value or any other threshold determined by the Board of Directors (having considered prevailing market conditions) of the issued Shares linked to that Fund; or in respect of Shares purchased on a particular Dealing Day, where the net purchases of Shares linked to the Fund in which the purchase is instructed exceed the same percentage or any other threshold determined by the Board of Directors (having considered prevailing market conditions). The dilution adjustment may also be charged: (a) where a Fund is in continual decline; (b) on a Fund experiencing large levels of net sales relative to its size; (c) on a Base Currency Exposure Share Class if the effect on the Net Asset Value as a result of such Share Class activities exceeds 5% of the Net Asset Value of the Fund or any other threshold determined by the Board of Directors (having considered prevailing market conditions) of the issued Shares linked to that Fund; or (d) in any other case where the Board of Directors is of the opinion that the interests of Shareholders require imposition of a dilution adjustment. If charged the dilution adjustment will be paid into the relevant Fund and become part of the relevant Fund. PREVENTION OF MONEY LAUNDERING AND FINANCING OF TERRORISM Pursuant to international rules and Luxembourg laws and regulations comprising, but not limited to, the law of 12 November 2004 on the fight against money laundering and financing of terrorism, as amended, the Grand Ducal Regulation dated 1 February 2010, CSSF Regulation of 14 December 2012 and CSSF Circular 13/556 concerning the

100 fight against money laundering and terrorist financing, and any respective amendments or replacements, obligations have been imposed on all professionals of the financial sector to prevent the use of undertakings for collective investment for money laundering and financing of terrorism purposes. As a result of such provisions, the registrar agent of a Luxembourg undertaking for collective investment must ascertain the identity of the subscriber in accordance with Luxembourg laws and regulations. The Registrar and Transfer Agent may require subscribers to provide any document it deems necessary to effect such identification. In case of delay or failure by an applicant to provide the documents required, the application for subscription will not be accepted and in case of redemption, payment of redemption proceeds delayed. Neither Aberdeen Global nor the Registrar and Transfer Agent have any liability for delays or failure to process deals as a result of the applicant providing no or only incomplete documentation. Shareholders may be requested to provide additional or updated identification documents from time to time pursuant to ongoing client due diligence requirements under relevant laws and regulations. The right is reserved by Aberdeen Global to reject any application for subscription of Shares in whole or in part. If an application is rejected, the application monies or balance thereof will be returned, once sufficient evidence of identification has been produced, at the risk of the applicant and without interest as soon as reasonably practicable, at the cost of the applicant, by bank transfer. (A) Subscription for the issue of Shares Class A, Class D, Class E, Class F, and Class U Shares are available to all investors. Class C and Class S Shares are only available to investors whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates. Class H, Class I, Class N and Class Z Shares are only available to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates (and additionally Class N Shares and the base currency exposure version thereof may only be acquired by fund of funds type undertakings for collective investment in the form of unit trusts or corporate type funds, which are distributed primarily in Japan). Class G Shares and the base currency exposure versions thereof are only available to Institutional Investors who are approved by the Global Distributor and whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates which specifically references the G Share Class and has an effective date on or after the launch of such class. Eligibility for the Base Currency Exposure Share Classes is the same as that for the underlying Class of Shares. The Funds are valued at 13:00 hours Luxembourg time on each Dealing Day, with the exception of Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund which are valued at 23:59 hours Luxembourg time on each Dealing Day. Applications should be made either by using the Application Form or by letter or fax containing all relevant information requested in the Application Form. Applications by Hong Kong residents for the issue of Shares may be sent to the Global Distributor at the address set out on page 12. Applications may also be sent to RBC Investor Services Trust Hong Kong Limited which was appointed by Aberdeen International Fund Managers Limited, the Investment Manager and Global Distributor of Aberdeen Global, to provide certain administrative support and nominee services to Shareholders of Aberdeen Global. Applications by Hong Kong residents sent direct to Aberdeen Global or the Transfer Agent are liable to be rejected. Only the Transfer Agent in Luxembourg may accept applications for the issue of Shares and allot or agree to issue Shares in respect of applications, as to neither of which does the Global Distributor have any authority to bind Aberdeen Global or the Transfer Agent. Although the Global Distributor is responsible for forwarding applications and transferring subscription monies to the Transfer Agent, the Global Distributor will not normally (except where the application is made by or through an accredited intermediary) do either thereof until it has received both (a) an application which satisfies the requirements referred to above and (b) the full subscription monies in cleared funds. Upon receipt of both thereof the Global Distributor will endeavour (in each case, without any responsibility to any applicant) to forward to the Transfer Agent the application and subscription monies not later than 5:00p.m. (Hong Kong time) on the Hong Kong business day (being a day, other than Saturday, on which banks in Hong Kong are open for business) following the Global Distributor becoming aware of such receipt. If received after 5:00p.m. (Hong Kong time), the application will be treated as having been received on the next following Dealing Day and will be executed at the Share Price(s) calculated on such following Dealing Day. Investors should note that different distributor(s) appointed by the Global Distributor may impose different dealing cut-off times before the dealing deadlines for receiving instructions for subscription. Investors should confirm the arrangements with the distributor(s) concerned

101 Potential investors should note that, in the case of Class A, Class D and Class I Shares unless otherwise agreed by the Global Distributor, an initial charge of up to 6.0% of the investment amount (which is the maximum permitted level of initial charge) may be deducted from each investor s investment amount and paid to the Global Distributor, which may make payments out of such initial charge to intermediaries (including members of the Aberdeen group). Methods of Payment Subscription monies will be accepted in HK dollars or (by prior arrangement with the Global Distributor) by telegraphic transfer of any investment currency (i.e. Australian Dollars, Euro, Japanese Yen, Sterling or US Dollars). However, if the currency of investment is different to the currency denomination of the relevant Share Class the necessary foreign exchange transaction will be arranged on behalf of, and at the expense of, the applicant. Normal banking charges will be included in the foreign exchange rate given and will be charged to the investor. Applicants must state on their Application Form if they wish to make payment in a currency other than the currency of denomination of the relevant Share Class of the relevant Fund. Certain intermediaries may offer their own foreign exchange services. In these cases, the services will be described in the application forms used by those intermediaries. Except where the applicant has arranged with the Global Distributor to effect payment by telegraphic transfer of an investment currency, payment should be made either: - (i) (ii) by telegraphic transfer of HK dollars with instructions to advise the Global Distributor of receipt of funds and the applicant s name; or by HK dollar cheque drawn on the applicant(s) bank account or bank draft payable to Aberdeen Global - Asia and crossed A/C payee only, not negotiable. If payment is to be made by bank transfer, it should be net of all bank charges (i.e. at the investors expenses) and made from a bank account in the name(s) of the investor(s). Payment should not be made by cheque or bank draft in any currency other than HK dollars and no money should be paid to any intermediary in Hong Kong who is not licensed or registered to carry on Type 1 (dealing in securities) regulated activity under Part V of the Securities and Futures Ordinance. Cash, endorsed cheques or traveller s cheques will not be accepted. Due to the settlement period of four Business Days, Shares are not available to be redeemed or switched until the Business Day after the settlement period or the actual settlement date of the subscription or switch, whichever is later. Applicants wishing to make payment by telegraphic transfer should remit the money to: - in the case of HK dollars: Pay to Bank of America N.A., Hong Kong Branch (SWIFT: BOFAHKHX) L20 T2 Kln Commerce Ctr 51 Kwai Cheong Road Kwai Chung Kowloon Account number: Sort code: Account Name: Aberdeen Global - Asia Upon receipt by the Global Distributor of an application, the Global Distributor will acknowledge the receipt in respect of such application by fax and, when an investment confirmation is issued by the Administrator in respect of the Shares allotted in relation to that application, the Global Distributor will forward that investment confirmation to the applicant. The Shares relating to each Fund are issued in registered form only. DISCLOSURE OF INFORMATION Shareholders are informed that their personal data or the information given in the subscription documents or otherwise in connection with an application to subscribe for shares, as well as details of their shareholding, will be stored in digital form and processed in compliance with the provisions of the Luxembourg law of 2 August 2002 on data protection as amended. Investors should be aware that personal information may be disclosed (i) to Aberdeen International Fund Managers Limited or any other company within the Aberdeen Group (as well as International Financial Data Services (UK) Ltd., International Financial Data Services Ltd., State Street Bank Luxembourg S.C.A. and other agents e.g. processing, paying or mailing agents) which may be based in countries where privacy laws do not exist or provide less protection than the laws in the EU; or (ii) when required by applicable law and regulation including anti-money laundering legislation and for the purpose of the application of FATCA regulations as well as legislation for the purpose of application of the CRS (as

102 defined in the section "Taxation of Shareholders"). By investing in Shares, each investor appoints Aberdeen International Fund Managers Limited, and any other company within the Aberdeen Group (as well as International Financial Data Services (UK) Ltd. and other relevant agents) as attorney-in-fact to collect from Aberdeen Global Services S.A., in its capacity as Registrar and Transfer Agent, all necessary information pertaining to investments in Aberdeen Global for the purpose of Shareholder servicing and/or the effective management of Aberdeen Global. By subscribing or purchasing Shares of Aberdeen Global, Shareholders accept the aforementioned processing of their personal data (implying the transfer and the disclosure of their personal data between the parties above including entities in countries outside the European Union and which may not offer protection similar to the data protection laws in Luxembourg and the European Union) and to answer to some mandatory questions in compliance with FATCA and CRS regulations. Investors may request access to or the rectification of any data provided. Investors should also refer to the Data Protection section of the Application Form. (B) Requests and instructions for the redemption and exchange (or switching) of Shares Whenever a Hong Kong resident wishes to redeem or switch the whole or any part of his holdings of Shares, he must submit his request or instructions to the Global Distributor or administrative agent by letter, fax or such other means as agreed by the Global Distributor. Fax requests must be followed by prompt confirmation before payment is made. Redemption requests must state the full name(s) and address of the Shareholders, the name of the Fund, the class, the number or value of Shares in each Fund to be redeemed and full settlement instructions. Such requests must be signed by all Shareholders. Switching instructions should include full details of registration, and the number or value and Class of Shares in each Fund to be switched. If a redemption request would result in a Shareholder s investment in any one Fund or Class being less than the required minimum holding, Aberdeen Global reserves the right to redeem the full Shareholding in that Fund (or Class) and pay the proceeds to the Shareholder. Shares are cancelled when redeemed. The following information applies to all Funds, except if an exchange (or switch) request involves exchanging within, into or out of Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund: Shares in one Fund may be exchanged into Shares of the same or a different Class in another Fund or of a different Class in the same Fund, subject to the qualifications for investment being met, on any Dealing Day for the relevant Funds. Shares in the same Class may be exchanged between accumulation and income Shares within the same Class. Investors may exchange either a specific number of Shares or Shares of a specified value. Class A, Class D, Class E, Class F, and Class U Shareholders may exchange between these Classes in the same Fund or another Fund. Shareholders of these Classes may only exchange into Class C, Class G, Class H, Class I, Class N, Class S or Class Z Shares of the same Fund or another Fund with the prior consent of the Global Distributor and provided (where appropriate) they have a suitable agreement in place with the Investment Manager or one of its Associates and/or they qualify as Institutional Investors and they comply with the minimum investment requirements (and additionally Class N Shares may only be acquired by fund of funds type undertakings for collective investment in the form of unit trusts or corporate type funds, which are distributed primarily in Japan). Class C Shareholders may only exchange into Class C Shares in another Fund, and may exchange into Class A Shares in the same Fund with the prior consent of the Global Distributor and provided (where appropriate) they have a suitable agreement in place with the Investment Manager or one of its Associates. Class G, Class H, Class I, Class N, Class S and Class Z Shareholders may exchange into the same Class of Share in another Fund or Class A, Class D, Class E, or Class U Shares of the same or another Fund. Class G, Class H, Class I, Class N, Class S and Class Z Shareholders may also exchange into any other Class of Share in the same or another Fund with the prior consent of the Global Distributor and provided (where appropriate) they have a suitable agreement in place with the Investment Manager or one of its Associates and/or they qualify as Institutional Investors and they comply with the minimum investment requirements (and additionally Class N Shares may only be acquired by fund of funds type undertakings for collective investment in the form of unit trusts or corporate type funds, which are distributed primarily in Japan). The conditions for exchange or exchanging of the base currency exposure versions of Class A, Class C, Class D, Class F, Class G, Class I, Class N, Class S and Class Z Shares are the same as those for the underlying Share Class

103 Information applicable if an exchange request involves exchanging within, into or out of Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund: In the case of Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund, investors (with the exception of holders of Class C Shares), may exchange their Shares for another Class of Share in the same Fund or for Shares of the same or another Class in Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund with the prior consent of the Global Distributor and provided (where appropriate) they have a suitable agreement in place with the Investment Manager or one of its Associates and/or they qualify as an Institutional Investor and comply with the minimum investment requirements (and additionally in respect of Class N these Shares may only be acquired by fund of funds type undertakings for collective investment in the form of unit trusts or corporate type funds, which are distributed primarily in Japan). Holders of Class C Shares of Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund may exchange into Class C Shares in Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund, and may exchange into Class A Shares in the same Fund with the prior consent of the Global Distributor and provided (where appropriate) they have a suitable agreement in place with the Investment Manager or one of its Associates. Shares in the same Class may be exchanged between accumulation and income Shares within the same Class of Share of Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund or Aberdeen Global - Emerging Markets Infrastructure Equity Fund. Investors in Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund or Aberdeen Global - Emerging Markets Infrastructure Equity Fund may not exchange their Shares for Shares of the same or another Class in any other Fund. Similarly, Shareholders of any other Fund may not exchange their Shares for any Class of Share in Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund or Aberdeen Global - Emerging Markets Infrastructure Equity Fund. Exchange requests received that are not in accordance with this paragraph will be returned to the investor. Information applicable to all Funds: If a request to exchange Shares would result in a Shareholder owning less than the minimum holding in any one Fund or Class, Aberdeen Global reserves the right to exchange the full shareholding in that Fund (or Class). Exchanging or switching constitutes a redemption of the Shares of one Fund by Aberdeen Global and the issuance of new Shares of another Fund in their place, based upon the formula described in Section 4 of Appendix B and subject to any charges applicable to redemption and subscription of Shares (if any). Due to the settlement period of four Business Days, Shares are not available to be redeemed or switched until the Business Day after the settlement period or the actual settlement date of subscription or switch, whichever is later. The Global Distributor will endeavour to ensure, but without any responsibility to any Shareholder, that requests and instructions for the redemption or switching of Shares received by it not later than 5:00 p.m. (Hong Kong time) on any Dealing Day will be transmitted to the Transfer Agent in Luxembourg by such time on the same day as will enable effect to be given to such instructions at the relevant Share Price or Share Prices calculated on that Dealing Day. Investors should note that different distributor(s) appointed by the Global Distributor may impose different dealing cut-off times before the dealing deadlines for receiving instructions for subscription. Investors should confirm the arrangements with the distributor(s) concerned. Redemption Proceeds: Payments to Shareholders are normally made to the bank account in the name of the Shareholders in Australian Dollars, Euro, Hong Kong Dollars, Japanese Yen, Sterling or US Dollars (as indicated at the time of the original application) or, if no indicated was given, in the currency of denomination of the relevant Share Class of the Fund (s) concerned at the expense and risk of the Shareholder. No third party payment can be made. The Transfer Agent will pay the redemption proceeds, less any applicable charges, which may include normal banking charges included in any foreign exchange rate given, will be paid in accordance with the Shareholder s instructions given at the time of application for the relevant Shares unless otherwise requested by the Shareholder

104 Proceeds of redemption will normally be paid at Shareholders expense by wire transfer into the Shareholders nominated bank account in the name of the Shareholder within four business days following the later of the date on which the applicable Share Price was determined or on the date the share certificates (if issued) have been received by the Transfer Agent. However, assuming that (a) there is no delay in the redeeming Shareholder submitting any relevant documentation and (b) calculation of the Net Asset Value per Share, and issue and redemption of the Shares has not been temporarily suspended, the maximum period which should elapse between the receipt of the valid redemption request and the payment of redemption proceeds will be one calendar month. Investors dealing through nominee Shareholders may follow different sets of procedures as agreed amongst themselves. Aberdeen Global may limit the total number of Shares of any Fund which may be redeemed on any Dealing Day to a number representing 10% of the Net Assets of that Fund. Please refer to Appendix C for further details. In Specie Redemptions Redemptions are normally effected in cash. However, Aberdeen Global has power (subject to the consent of the Shareholder) to satisfy redemptions in specie by allocating to the holder investments from the portfolio of the relevant Fund equal in value to the value of the holding to be redeemed. The Shareholder may elect to have the assets allocated to him for the in-specie redemption sold for cash. The cash issued to the Shareholder would therefore be net of dealing costs. The nature and type of assets to be transferred in such cases will be determined on a fair and reasonable basis and in circumstances which the Directors consider do not prejudice the interests of the other Shareholders in the relevant Fund. This power will be exercised only rarely. However, it may result in the Shareholder receiving investments per Share redeemed which may be worth less or more than the Share Price of each such Share. The specific costs for such redemptions in specie, (such as but not limited to a report, if required, by Aberdeen Global's auditors) will be borne by the redeeming Shareholders or by a third party, but will not be borne by the Aberdeen Global unless the Board of Directors considers that the redemption in specie is in the interest of the Aberdeen Global or made to protect the interest of the Aberdeen Global. (C) Share Price The Funds are valued on every business day in Luxembourg other than days during a period of suspension of dealing in Shares in one or more Funds ( Dealing Day ). The Funds are valued at 13:00 hours Luxembourg time on each Dealing Day, with the exception of Aberdeen Global -Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund which are valued at 23:59 hours Luxembourg time on each Dealing Day. In order to ascertain the Share Price applicable to any particular class of Share on any particular Dealing Day the following procedure is followed: (a) (b) (c) (d) the Net Asset Value per Share of that class is calculated on that Dealing Day (for further details, please refer to Appendix B); applications, redemption requests and switching instructions in relation to Shares of that class to be dealt with on that Dealing Day will be examined to establish whether there are net applications or net redemptions in respect of that class of Share; dealing charges (i.e. fiscal and purchase charges or fiscal and sale charges), which shall include any expenses and/or other costs or any bid/offer spread, will be calculated according to whether there are net applications or net redemptions to be effected on that Dealing Day and the relevant charges will be apportioned among the Shares representing the net applications or net redemptions; and if there are net applications, the Share Price for that Dealing Day will be the Net Asset Value per Share of that class plus the dealing charges so calculated but, if there are net redemptions, the Share Price will be the Net Asset Value per Share of the relevant class less those dealing charges. Accordingly, the prices at which Shares of any particular class are issued, redeemed and switched on any particular Dealing Day will be the same, although: - (i) (ii) in the case of the issue of Class A, Class D and Class I Shares (as described in this Summary Prospectus), an initial charge may be deducted from an investor s investment amount (i.e., subscription monies) prior to application in acquiring Shares; in the case of the redemption of Shares (whether Class A Class D or Class I Shares), no exit charge on redemption will be deducted upon redemption; (iii) The hedged versions of Class A Shares bear the same initial charge as Class A Shares. (iv) in the case of the redemption of Class Z Shares (as described in this Summary Prospectus), no initial charge or exit charge will be deducted upon subscription or redemption. (v) The hedged Class I Shares will similarly have no exit charge on redemption; and (vi) in the case of the switching of Shares, a switching charge may be applied as described on page

105 Subject to any applicable charges, the price of Shares of any Class in any Fund on a particular Dealing Day shall be the Share Price for that Class, being equal to the Net Asset Value of that Class on that day, adjusted when required to reflect any dealing charges (which shall include any commission and/or other costs or any bid/offer spread) that the Board of Directors believes are appropriate to take into account in respect of that Class, divided by the number of Shares of that Class then in issue or deemed to be in issue. Such dealing charges will reflect costs and liabilities not included in the calculation of the Net Asset Value of the relevant Class. The dealing charges shall not exceed 1.5% of the Net Asset Value of the relevant Class on the Dealing Day in question. The Share Price may be rounded to up to four decimal places in the currency of denomination. The Share Price for each Fund is available from the Global Distributor. However, the Share Price at which Shares are allotted will be the relevant Share Price applicable on the Dealing Day on which the application is accepted at Aberdeen Global s office in Luxembourg. It should be appreciated that because of the time difference between Hong Kong and Luxembourg the relevant Share Price may not be identical to the Share Price quoted by the Global Distributor. The Share Price for each Fund will be currently published daily in Hong Kong at and by other means as Aberdeen International Fund Managers Limited, the Investment Manager and the Hong Kong Representative deems appropriate and determines from time to time. Share Prices will not, however, be current by the time of publication. Investors should note that this website has not been reviewed by the SFC. SUSPENSION OF DEALINGS Aberdeen Global may suspend the determination of the Net Asset Value of shares of any Fund and the dealing of such Shares in the event that a reliable price cannot be established as at the valuation point. Investors are reminded that, in certain circumstances, the issue, redemption and switching of Shares may be suspended (See Appendix C, section 10 Suspension ). A Fund may without prior notice to Shareholders be closed to new subscriptions or switches into that Fund (but not to redemptions) if, in the opinion of the Board of Directors, this is necessary to protect the interests of the Fund and its existing Shareholders. One such circumstance would be where the Fund has reached a size such that the capacity of the market and/or the capacity of the relevant Investment Adviser has been reached, and where to permit further inflows would be detrimental to the performance of the Fund. CHARGES AND EXPENSES SALES CHARGE STRUCTURE Class A, Class D, Class E, Class F, Class G, Class S and Class U Shares Initial Sales Charge Class A, Class D, Class E, Class S and Class U Shares of all Funds are offered at the applicable Net Asset Value per Share plus an initial charge of up to 6.38% of the Net Asset Value which is due to the Global Distributor (this equates to up to 6% of the aggregate Investment Amount). The current initial charges applied are set out in Appendix E. The Global Distributor may rebate all or part of the initial charge by way of a commission or discount to recognised financial intermediaries and/or may waive all or part of the initial charge to individuals or groups of investors. Commission will normally be paid to a maximum of 3%. An initial sales charge of 6.38% is currently levied by the Board of Directors on all investments in Class F and Class G Shares, although the Board of Directors reserves the right, at its discretion, to direct the Global Distributor to apply or remove a waiver of such initial sales charge from time to time and for a particular period of time and/or for particular individuals or groups of investors. Investors should refer to for up to date information on the actual initial sales charge applicable at any time. The initial sales charge levied in respect of Class F and Class G Shares shall be collected for the benefit of the relevant Fund of Aberdeen Global. A mandatory initial charge of up to 6.38 % of the Net Asset Value may be levied by the Board of Directors on all investments in Class A, Class D, Class E, Class S and Class U Shares, in addition to (subject to the maximum provided above), or in place of, any initial charge (including part thereof) already levied and paid to the Global Distributor. An

106 initial charge applied could therefore be partially payable to the Global Distributor and partially payable to the relevant sub-fund, but at no time will the aggregate of a charge levied by the Global Distributor and a mandatory charge applied by the Board of Directors exceed 6.38%. Investors should refer to for up to date information on the actual initial sales charge applicable at any time. Such initial sales charge shall be collected for the benefit of the relevant Fund of Aberdeen Global and shall not be payable to the Global Distributor or rebated to any persons by way of a commission or discount. The base currency exposure versions of Class A, Class D and Class S Shares bear the same initial sales charge as the underlying Class of Share. Class S Shares and the base currency exposure versions thereof are only available to investors whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates. Class B Shares Class B Shares are closed to new subscriptions. Class C Shares A mandatory initial charge of up to 6.38 % of the Net Asset Value may be levied by the Board of Directors on all investments in Class C Shares and base currency exposure versions thereof. An initial charge applied could therefore be partially payable to the Global Distributor and partially payable to the relevant sub-fund, but at no time will the aggregate of a charge levied by the Global Distributor and a mandatory charge applied by the Board of Directors exceed 6.38%. Investors should refer to for up to date information on the actual initial sales charge applicable at any time. Such initial sales charge shall be collected for the benefit of the relevant Fund of Aberdeen Global. Class C Shares and the base currency exposure versions thereof are only available to investors whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates. Contingent Deferred Sales Charge Class C Shares and the base currency exposure versions thereof will be subject to a contingent deferred sales charge of 1.00% of the Share Price of the Shares being redeemed, if the Shareholder redeems his Shares within one year of purchase. The contingent deferred sales charge will be calculated as a percentage of the lesser of the relevant Share Price of the Shares on the date of redemption or the date of issue, exclusive of reinvestments. In determining whether a contingent deferred sales charge is applicable to the proceeds of redemption, the calculation will be made in the manner which results in the lowest possible charge. Thus, it will be assumed that the Class C Shares (or the base currency exposure versions thereof) first being redeemed are those Shares held by the Shareholder which are not subject to a contingent deferred sales charge then, after that, those which have been held by the Shareholder for the longest period of time. Class H, Class I, Class N and Class Z Shares Initial Sales Charge Class H, Class I Shares of all Funds are offered at the applicable Net Asset Value per Share plus an initial charge of up to 6.38% of the Net Asset Value which is due to the Global Distributor (this equates to up to 6% of the aggregate Investment Amount). The Global Distributor may rebate all or part of the initial charge by way of a commission or discount to recognised financial intermediaries and/or may waive all or part of the initial charge to individuals or groups of investors. Commission will normally be paid to a maximum of 3%. The base currency exposure versions of Class I Shares bear the same initial sales charge as the underlying Class of Share. A mandatory initial charge of up to 6.38 % of the Net Asset Value may be levied by the Board of Directors on all investments in Class H, Class I and Class Z Shares and base currency exposure versions thereof, in addition to (subject to the maximum provided above), or in place of, any initial charge (including part thereof) already levied and paid to the Global Distributor. An initial charge applied could therefore be partially payable to the Global Distributor and partially payable to the relevant sub-fund, but at no time will the aggregate of a charge levied by the Global Distributor and a mandatory charge applied by the Board of Directors exceed 6.38%. Investors should refer to for up to date information on the actual initial sales charge applicable at any time. Such initial sales charge shall be collected for the benefit of the relevant Fund of Aberdeen Global and shall not be payable to the Global Distributor or rebated to any persons by way of a commission or discount

107 Class N Shares and the base currency exposure versions thereof will have no initial charge. Class H, Class I, Class N and Class Z Shares and the base currency exposure versions thereof are only available to Institutional Investors who have entered into a suitable agreement with the Investment Manager or one of its Associates (and additionally Class N Shares may only be acquired by fund of funds type undertakings for collective investment in the form of unit trusts or corporate type funds, which are distributed primarily in Japan). ANNUAL CHARGES STRUCTURE Investment Manager s Fees The Investment Manager receives fees for the provision and co-ordination of investment services to Aberdeen Global, which shall not exceed 3% of the Net Asset Value of the Fund. The fees are calculated as a percentage of the Net Asset Value of each Fund as set out in Appendix E. These fees are accrued daily and are paid monthly in arrears to the Investment Manager. The Investment Manager pays the fees of the Investment Advisers. The Investment Manager reserves the right, at its discretion, to reallocate any Investment Management Fee it receives to certain recognised financial intermediaries or institutions. For so long as Aberdeen Global and its sub-funds are authorised in Hong Kong, at least one month notice (or such shorter period as the SFC may determine) will be given to Shareholders in the event of an increase from the current level of investment management fee up to the maximum level permitted by the investment management agreement. Shareholders approval will be sought in the event of an increase beyond the maximum level permitted by the investment management agreement. Distributor s Fees Investors should note that in the case of Class C Shares and the base currency exposure versions thereof, a distributor s fee of 1.00% per annum of the Net Asset Value of the relevant Class is payable by Aberdeen Global to the Global Distributor for providing distribution services (i.e. co-ordinating sales and marketing activities). This fee is accrued daily and paid monthly in arrears. The Global Distributor reserves the right, at its discretion, to reallocate the distributor s fees, in whole or in part, to certain recognized financial intermediaries or institutions. OTHER CHARGES Switching A charge payable to the Global Distributor of up to 1% of the Net Asset Value of the Shares being switched may be levied. General The Global Distributor and the Investment Manager may share the whole or any part of the charges or fees outlined herein with the Transfer Agent or with any sub-distributor or intermediary. The Transfer Agent may act as the collecting or processing agent for such charges or fees. OPERATING, ADMINISTRATIVE AND SERVICING EXPENSES Ordinary operating expenses incurred by Aberdeen Global will generally be paid out of the assets of the relevant Fund. To seek to protect the Shareholders from fluctuations in these expenses, the yearly total amount of these expenses to be borne by each Share Class (the "Operating, Administrative and Servicing Expenses"), will be fixed at a maximum level of 0.60% of the Net Asset Value in respect of all Share Classes (except in respect of all Share Classes of the Aberdeen Global Brazil Bond Fund, Aberdeen Global Brazil Equity Fund, Aberdeen Global Russian Equity Fund and Aberdeen Global - Eastern European Equity Fund where the corresponding maximum is 0.80%, and except Base Currency Exposure Share Classes in respect of which a fee of up to 0.10% may be charged in addition by the Investment Manager for providing currency exposure services). The level of effective Operating, Administrative and Servicing Expenses below these maximum levels may vary at the Board of Directors discretion, as agreed with the Management Company, and different rates may apply across the Funds and Share Classes. The Board of Directors may amend the maximum fixed level of the Operating, Administrative and Servicing Expenses applicable to each Share Class at any time at its discretion upon prior notice to the relevant Shareholders

108 The Operating, Administrative and Servicing Expenses are fixed in the sense that the Management Company, or another Aberdeen Group company as elected by the Management Company, will bear the excess in actual ordinary operating expenses to any such Operating, Administrative and Servicing Expenses charged to the Share Classes. Conversely, the Management Company, or another Aberdeen Group company as elected by the Management Company, will be entitled to retain any amount of Operating, Administrative and Servicing Expenses charged to the Share Classes exceeding the actual ordinary operating expenses incurred by the respective Share Classes, including any cost savings. The effective Operating, Administrative and Servicing Expenses are accrued at each calculation of the Net Asset Value and are disclosed in the relevant Product Key Facts Statements from time to time by comprising (together with the Management Fee and any excluded or extraordinary expenses) the ongoing charges of a Share Class. They are also disclosed in the semi-annual and annual reports of Aberdeen Global. In addition, in order to pass on economies of scales achieved by those Funds reaching significant levels of assets, the following discounts to the Operating, Administrative and Servicing Expenses will be applied: In respect of all Share Classes of a Fund reaching a level of assets of at least (USD or the equivalent in another currency): Discount to be applied to the Operating, Administrative and Servicing Expenses (per annum): Below 2,000,000, % 2,000,000, % 4,000,000, % 6,000,000, % 8,000,000, % 10,000,000, % Provided the relevant level of asset value is reached by a Fund on the last Business Day of each month, the relevant discount will apply and be paid to that Fund in relation to that month. The Operating, Administrative and Servicing Expenses for the Funds and Share Classes include the following: a. Expenses directly incurred by the Funds, including but not limited to: - Custodian fees and expenses - Auditor s fees and expenses - Directors Fees and Expenses Any Director of Aberdeen Global will be entitled to a fee in remuneration for their services as a Director or in their capacity as a member of any committee of the Board of Directors. In addition, all Directors may be paid reasonable travelling, hotel and other incidental expenses for attending meetings of the Board of Directors (or any committee thereof) or of Shareholders of Aberdeen Global. - Luxembourg annual subscription tax (taxe d abonnement) - referred to in the Taxation section of this Prospectus. - Hedging costs and fees (including any fees charged by the Investment Manager). b. A fund servicing fee paid to the Management Company for administrative and related additional management services which will constitute the remaining amount of the Operating, Administrative and Servicing Expenses after deduction of the expenses detailed under section a. above. The Management Company then bears all expenses incurred in the day to day operation and administration of the Funds, including all third party expenses and other recoverable costs incurred by or on behalf of the Funds from time to time, including but not limited to: - Domiciliary Agent, Registrar & Transfer Agent and Listing Agent s Fees and Expenses - Principal and Local Paying Agent s Fees and Expenses - Fund Administrator s Fees and Expenses - Management Company Fee - Legal fees and expenses - Miscellaneous fees including but not limited to: the cost of publication of the Share prices, rating fees, postage, telephone, facsimile transmission and other electronic means of communication, registration costs and expenses of preparing, printing and distributing the Prospectus, translation costs, regulatory required information documents or any offering document, financial reports and other documents made available to Shareholders, fees payable to permanent representatives and other agents of Aberdeen Global, Investor Servicing teams fees and expenses

109 The Management Company may instruct Aberdeen Global to pay any and all of the expenses listed in b. above and in such cases the Operating, Administrative and Servicing Expenses charged to the relevant Funds and Share Classes would be reduced accordingly. The Operating, Administrative and Servicing Expenses do not include any cost or expense incurred by a Share Class in respect of the following costs, which will be borne and paid out of the assets of the Fund in addition to the Operating, Administrative and Servicing Expenses: - Dilution levy, brokerage charges and non-custody related transactions. - Correspondent and other banking charges. - The full amount of any current and future tax, levy, duty or similar charge which may be due on the assets and/or on the income of Aberdeen Global, the Funds or their assets, excluding the Luxembourg annual subscription tax (taxe d abonnement) included in section a. above. - Additional fee of up to 0.10% for Base Currency Exposure Share Classes. - Extraordinary expenses including but not limited to expenses that would not be considered as ordinary expenses: litigation expenses, exceptional measures, particularly legal, business or tax expert appraisals or legal proceedings undertaken to protect shareholders interests, any expense linked to non-routine arrangements made by the Domiciliary Agent, the Registrar & Transfer Agent and the Listing Agent in the interests of the investors and all similar charges and expenses. - In the case of a Fund investing in another UCITS or UCI: any double charging of fees and expenses, in particular the duplication of the fees payable to the custodian(s), transfer agent(s), investment manager(s) and other agents and also subscription and redemption charges, which are generated both at the level of the Fund and of the target funds in which the Fund invests. For the avoidance of doubt, all charges and expenses are stated exclusive of Value-added tax (VAT), Goods and Services Tax (GST) or similar taxes that might apply in any jurisdiction. Aberdeen Global is a single legal entity. Pursuant to Article 181 of the Law, the rights of investors and of creditors concerning a Fund or which have arisen in connection with the creation, operation or liquidation of a Fund are limited to the assets of that Fund. The assets of a Fund are exclusively available to satisfy the rights of investors in relation to that Fund and the rights of creditors whose claims have arisen in connection with the creation, the operation or the liquidation of that Fund. For the purpose of the relations as between investors, each Fund will be deemed to be a separate entity. DIVIDEND POLICY The dividend policy of each Share Class is described in Appendix D. Investors should refer to for current details of which Classes of Shares are in issue. Class A-1, Class C-1, Class D-1, Class E -1, Class F-1, Class G-1, Class H-1, Class I-1, Class N-1, Class S-1, Class U-1 and Class Z-1 Shares Dividends will be declared and distributed on these Classes of Shares. Class A-2, Class C-2, Class D-2, Class E-2, Class F-2, Class G-2, Class H-2, Class I-2, Class N-2, Class S-2, Class U-2 and Class Z-2 Shares The Board of Directors does not intend to declare any dividends in respect of these Classes of Shares. Accordingly, the investment income attributable to these Classes of shares will be accumulated in their respective Net Asset Values. Class B Shares, divided into Class B-1 and Class B-2 Shares, are closed to new subscription. The dividend policy of the base currency exposure Share Classes is the same as that of the underlying Shares

110 The Board of Directors reserves the right to increase or decrease the frequency of dividend payments, if any, at their discretion. Dividends may be paid out of investment income, capital gains or capital at the discretion of the Board of Directors 6. The composition of the dividends (i.e. relative amounts paid out of net distributable income and capital) for the last 12 months can be obtained from the Hong Kong Representative on request and can be found at Investors should note that this website has not been reviewed by the SFC. The dividends for the following Funds will be declared annually as at 1 October with the appropriate distributions or allocations made within two months of this date: Aberdeen Global - Asia Pacific Equity Fund Aberdeen Global - Asian Property Share Fund Aberdeen Global - Asian Smaller Companies Fund Aberdeen Global - Australasian Equity Fund Aberdeen Global - Chinese Equity Fund Aberdeen Global - European Equity Dividend Fund Aberdeen Global - Eastern European Equity Fund Aberdeen Global - Emerging Markets Equity Fund Aberdeen Global - Emerging Markets Smaller Companies Fund Aberdeen Global - European Equity Fund Aberdeen Global - European Equity (Ex UK) Fund Aberdeen Global - Indian Equity Fund Aberdeen Global - Japanese Equity Fund Aberdeen Global - Japanese Smaller Companies Fund Aberdeen Global - Latin American Equity Fund Aberdeen Global - North American Equity Fund Aberdeen Global - North American Smaller Companies Fund Aberdeen Global - Responsible World Equity Fund Aberdeen Global - Russian Equity Fund Aberdeen Global - Technology Equity Fund Aberdeen Global - World Equity Fund Aberdeen Global - World Resources Equity Fund Aberdeen Global - World Smaller Companies Fund The dividends for the following Funds will be declared six-monthly as at 1 April and 1 October with the appropriate distributions or allocations made within two months of these dates: Aberdeen Global - UK Equity Fund Aberdeen Global - Select Global Credit Bond Fund The dividends for the following Funds will be declared quarterly as at 1 January, 1 April, 1 July and 1 October with the appropriate distributions or allocations made within two months of these dates: Aberdeen Global - Asian Local Currency Short Duration Bond Fund Aberdeen Global - Brazil Bond Fund Aberdeen Global - Brazil Equity Fund Aberdeen Global - Select High Yield Bond Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund 6 If Aberdeen Global intends to change this policy, Aberdeen Global will seek the SFC s prior approval and provide Shareholders with prior written notification of not less than one month (or such other period as the SFC may require)

111 The dividends for the following will be declared monthly as at the first Business Day of each month with the appropriate distributions or allocations made within one month of these dates: Aberdeen Global - Emerging Markets Corporate Bond Fund Aberdeen Global - Emerging Markets Local Currency Bond Fund Aberdeen Global - Select Emerging Markets Bond Fund Aberdeen Global - Select Euro High Yield Bond Fund If a Shareholder redeems or switches all of his Shares, the dividends declared since the last reinvestment or payment date will be paid out in cash or switched to the other respective Fund, as the case may be, at the next dividend pay date. Holders of registered Shares of the above mentioned Funds at the dividend record date will be eligible for dividends notwithstanding a transfer, switch or redemption of those Shares prior to the corresponding dividend payment date. If any date for declaration of a dividend is not a Business Day, then such entitlement will be taken into account for the purposes of the declaration of a dividend on the preceding Business Day. CALCULATION OF NET INVESTMENT INCOME The net investment income in relation to a Fund is determined in accordance with the laws and regulations applicable to Aberdeen Global. Broadly, it comprises all sums deemed by the Board of Directors of Aberdeen Global, to be in the nature of income received or receivable for the account of Aberdeen Global and attributable to each Fund in respect of the accounting period concerned, after deducting net charges and expenses of the individual Classes and payable out of such income and after making such adjustments as the Administrator considers appropriate, following consultation with the Auditors in accordance with the laws and regulations applicable to Aberdeen Global in relation to taxation and other matters. Each allocation of net investment income made in respect of any Fund at a time when more than one Class of Shares is in issue in respect of that Fund shall be effected by reference to the relevant investor s proportionate interest in the property of the Fund in question. This will be ascertained for each Share Class as follows: 1. A notional account will be maintained for each Class of Share. Each account will be referred to as an Entitlement Account. 2. There will be credited to this Entitlement Account: the capital amount of the price paid for the Shares of that Class (i.e., excluding any initial charges or dilution adjustment ); that Class proportion of the capital appreciation attributable to the Fund; that Class proportion of the Fund s income received and receivable; in the case of accumulation Shares, income previously allocated and so accumulated to Shares in respect of previous accounting periods. 3. There will be debited to the Entitlement Account: any redemption payment made for the cancellation of Shares of the relevant Class; that Class proportion of any capital depreciation attributable to the Fund; all distributions of income (including equalisation) made to Shareholders of that Class; all costs, charges and expenses incurred by and allocated to that Class. 4. In each case, the Administrator will make such adjustments for taxation matters as the Administrator considers appropriate after consultation with the Auditors so that no particular Class of Share suffers material prejudice as opposed to another Class of Share. 5. Where a Class of Shares is denominated in a currency which is not the Base Currency of the relevant Fund, the balance on the Entitlement Account shall be converted into the Base Currency of the Fund in order to ascertain the proportion of all Classes of Share. Conversions between currencies shall be at a rate of exchange decided by the administrator as being a rate that is not likely to result in any material prejudice to the interests of investors or potential investors. Please see the section Operating, Administrative and Servicing Expenses within Charges and Expense for further details on the charging of these expenses to the Funds and Share Classes

112 PAYMENT OF DIVIDENDS Dividends for Reinvestment Dividends in respect of the A-1, C-1, D-1, E-1, F-1, G-1, H-1, I-1, N-1, S-1, U-1 and Z-1 Classes of Shares and the base currency exposure versions of the A-1, C-1, F-1, G-1, I-1, N-1, S-1 and Z-1 Classes of Shares will automatically be reinvested in additional Shares of the same Class in the relevant Fund unless the Shareholder has specifically elected on the Application Form or otherwise subsequently in writing to receive such dividends in cash. The new Shares are issued fourteen days prior to the relevant dividend payment date at the Share Price on that date and are free of any sales charge. Where such day is not a Dealing Day, the new Shares will be issued on another day at Aberdeen Global s discretion. Reinvested dividends are likely to be treated as income received by the Shareholder for tax purposes in most jurisdictions. Dividends for Payment by Bank Transfer Dividends are declared in the currency in which the relevant Share Class is denominated. They can, upon request, be paid, at the expense and risk of the Shareholder, in the preferred currency of the Shareholder, provided that currency is on the list of currencies offered, which list is available at the registered office of Aberdeen Global, (usually the currency of original investment), by bank transfer. Shareholders should bear in mind that bank clearing or collection charges may seriously erode the value of small dividend amounts. The payment of dividends in cash may not be available to Shareholders who are investing through nominee Shareholders. Instead, dividends for nominee Shareholders will be reinvested accordingly. Dividend amounts of less than US$25 (or its equivalent in another currency) will, at the discretion of the Board of Directors of Aberdeen Global, not be paid out in cash but will be automatically reinvested in order to avoid disproportionate costs, notwithstanding a Shareholders request to pay out dividends. Unclaimed Dividends Any dividend unclaimed after 5 years from the date when it first became payable shall be forfeited automatically and made use of for the benefit of the relevant Fund without the necessity for any declaration or other action by the Fund. TAXATION OF ABERDEEN GLOBAL Aberdeen Global is not liable to any tax in Luxembourg on its profits or income and is not subject to Luxembourg s net wealth tax. Aberdeen Global is however liable in Luxembourg to an annual subscription tax (taxe d abonnement) at a rate of 0.05% per annum of the Net Asset Value of each Class (0.01% for Class G, Class H, Class I, Class N and Class Z Shares, being Shares that can only be held by Institutional Investors), such tax being payable quarterly on the basis of the value of the net assets of Aberdeen Global at the end of the relevant calendar quarter. No stamp duty or other tax is payable in Luxembourg on the issue or redemption of Shares except for a capital duty of 75 Euro paid by Aberdeen Global on its incorporation and each time the Articles are amended. No Luxembourg tax is payable on the realised capital gains or unrealised capital appreciation of the assets of Aberdeen Global. Investment income received and capital gains realised by Aberdeen Global on its investments may be subject to irrecoverable withholding taxes at source. Aberdeen Global may benefit in certain circumstances from double taxation treaties, which Luxembourg has concluded with other countries. Aberdeen Global is registered for Value Added Tax in Luxembourg and is liable to account for Value Added Tax in accordance with applicable laws. Aberdeen Global will not be subject to any tax in Hong Kong so long as Aberdeen Global does not carry on a trade or business of dealing in securities or commodities in Hong Kong. It is not the intention of Aberdeen Global to carry on such a trade or business or to establish a place of business in Hong Kong

113 TAXATION OF SHAREHOLDERS EU Tax Considerations for individuals resident in the EU or in certain third countries or dependent or associated territories The Council Directive (EU) 2015/2060 has repealed the Council Directive 2003/48/EC on the taxation of savings income in the form of interest payments of 3 June 2003 (the "EUSD"), as amended by council directive 2014/48/EU. As a result, the EUSD will no longer apply once all the reporting obligation concerning year 2015 will have been complied with (normally 1 June 2016). The EUSD repeal will not be implemented in Austria or Switzerland until 1 January There will therefore be reporting in these countries for one further year, for Under the EUSD, Member States of the EU are required to provide the tax authorities of another EU Member State with information on payments of interest or other similar income paid by a paying agent (as defined by the EUSD) within its jurisdiction to an individual resident in that other EU Member State. Switzerland, Austria, Monaco, Liechtenstein, Andorra and San Marino and the Channel Islands, the Isle of Man and the dependent or associated territories in the Caribbean, have also introduced measures equivalent on information exchange. The EUSD was implemented in Luxembourg by a law dated 21 June 2005, as amended (the "2005 Law"). Dividends distributed by a Fund will be subject to the EUSD and the 2005 Law if more than 15% of such Fund s assets are invested in debt claims (as defined in the 2005 Law) and proceeds realised by Shareholders on the redemption or sale of Shares in a Fund will be subject to the EUSD and the 2005 Law if more than 25% of such Fund s assets are invested in debt claims (such Funds, hereafter "Affected Funds"). In respect of each Shareholder who is an individual resident or deemed resident for tax purposes in another EU Member State or certain of the above mentioned dependent or associated territories, the Luxembourg paying agent will report information to the tax authorities in accordance with the provisions of the 2005 Law, unless such Shareholder has provided the paying agent with a certificate drawn up by the competent authorities of his State of residence in the format required by the 2005 Law. Aberdeen Global reserves the right to reject any application for Shares if the information provided by any prospective investor does not meet the standards required by the 2005 Law as a result of the EUSD. The foregoing is only a summary of the implications of the EUSD and the 2005 Law, is based on the current interpretation thereof and does not purport to be complete in all respects. It does not constitute investment or tax advice and investors should therefore seek advice from their financial or tax adviser on the full implications for themselves of the EUSD and the 2005 Law. Automatic Exchange of Information Following the development by the Organisation for Economic Co-operation and Development ("OECD") of a common reporting standard ("CRS") to achieve a comprehensive and multilateral automatic exchange of information (AEOI) in the future on a global basis, Council Directive 2014/107/EU amending the Council Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation (the "Euro-CRS Directive") was adopted on 9 December 2014 in order to implement the CRS among the member States of the European Union. Under the Euro-CRS Directive, the first AEOI must be applied until 30 September 2017 to the local tax authorities of the member States of the European Union for the data relating to calendar year The Euro-CRS Directive was implemented into Luxembourg law by the law of 18 December 2015 on the automatic exchange of financial account in formation in the field of taxation ("CRS Law"). The CRS Law requires Luxembourg financial institutions to identify financial asset holders and establish if they are fiscally resident in countries with which Luxembourg has a tax information sharing agreement. Luxembourg financial institutions will then report financial account information of the asset holder to the Luxembourg tax authorities, which will thereafter automatically transfer this information to the competent foreign tax authorities on a yearly basis. Shareholders may therefore be reported to the Luxembourg and other relevant tax authorities in accordance with applicable rules and regulations. In addition, Luxembourg tax authorities signed the OECD s multilateral competent authority agreement ("Multilateral Agreement") to automatically exchange information under the CRS. The Multilateral Agreement aims to implement the CRS among non EU member states; it requires agreements on a country by country basis. Under the CRS Law, the first exchange of information will be applied until 30 September 2017 for information related to the calendar year Accordingly, Aberdeen Global and/or the Registrar and Transfer Agent will require its shareholders to provide information in relation to the identity and tax residence of financial account holders (including

114 certain entities and their controlling persons), account details, reporting entity, account balance/value and income/sale or redemption proceeds to the local tax authorities of the country of tax residency of the foreign investors to the extent that they are tax resident of another EU member State or of a country for which the Multilateral Agreement is in full force and applicable. Shareholders should consult their professional advisors on the possible tax and other consequences with respect to the implementation of the CRS. Luxembourg Subject to the provisions of the 2005 Law, Shareholders are not subject to any capital gains, income, withholding, gift, estate, inheritance or other tax in Luxembourg (except for Shareholders domiciled, resident or having a permanent establishment in Luxembourg). Hong Kong Shareholders will not be subject to any Hong Kong tax on distributions from Aberdeen Global or on capital gains realised on the sale, switching, redemption or other disposal of any Shares in Aberdeen Global unless the acquisition and realisation of Shares in Aberdeen Global is or forms part of a trade, profession or business carried on in Hong Kong, in which case gains realised by the relevant Shareholder may attract Hong Kong profits tax. No Hong Kong stamp duty will be payable on the issue or transfer of Shares in Aberdeen Global. General Investors and prospective investors should note that levels and bases of taxation may change and they should ascertain from their professional advisers the potential consequences to them of acquiring, holding, redeeming, transferring, selling or switching any of Aberdeen Global s Shares or receiving dividends therefrom under the relevant laws of each jurisdiction to which they are subject, including the tax consequences and any foreign exchange control requirements. These consequences will vary with the law and practice of a Shareholder s country of citizenship, residence, domicile or incorporation and personal circumstances. The foregoing statements on taxation are given on the basis of Aberdeen Global s understanding of present legislation and practice in force at the date of this document and is subject to change.. The summary does not purport to be a comprehensive description of all Luxembourg tax laws and Luxembourg tax considerations that may be relevant to a decision to invest in, own, hold, or dispose of Shares and is not intended as tax advice to any particular Investor or potential Investor. TAXATION OF CHINESE EQUITY AND BONDS The Management Company reserves the right to provide for Chinese withholding income tax on the gains derived by the Funds investing in Mainland Chinese assets. The Ministry of Finance, the State Administration of Taxation ("SAT") and the China Securities Regulatory Commission of the People's Republic of China issued the "Notice on temporary exemption of withholding income tax on capital gains derived from the transfer of Chinese equity investment assets such as Chinese domestic stocks by QFII and RQFII" Caishui [2014] No.79 on 14 November 2014 ("the Notice 79"). The Notice 79 states that Chinese withholding income tax will be imposed on gains obtained by QFII and RQFII from Chinese equity investment assets (including Chinese domestic stocks) realised prior to 17 November The Notice 79 also states that QFIIs / RQFIIs without an establishment or place in China will also be temporarily exempt from Chinese withholding income tax on gains derived from equity investment assets effective from 17 November 2014 onwards. The provision made by Aberdeen Global is based on current market practice and Aberdeen Global's understanding of the tax rules and any changes to market practice or interpretation of China tax rules may impact this provision and may result in this provision being higher or lower than required. It should also be noted that the Notice 79 specified that the exemption on Chinese withholding income tax on gains derived from the trading of equity investment assets is temporary. There is a possibility of the China tax rules, regulations and practice being changed and taxes being applied retrospectively. Consequently, investors may be advantaged or disadvantaged depending upon the final outcome in terms of how the capital gains are taxed in China, the level of provision and when they subscribed for and/or redeemed their Shares in/from the relevant Fund. Aberdeen Global will closely monitor any further guidance issued by the relevant Chinese tax authorities and adjust the withholding income tax approach of the Funds accordingly. Aberdeen Global currently intends to make provision at a rate of 10% on gains realized up to 17 November 2014 on the disposal of Mainland Chinese equities and bonds. Following the issue of the Notice 79, Aberdeen Global does not currently intend to make any provision in respect of unrealized gains or gains realized after 17 November In the event that actual tax is collected by the SAT to make payments reflecting tax liabilities for which no provision has been made, investors should note that the Net Asset Value of the Funds may be adversely affected, as the Funds will

115 ultimately have to bear the full amount of tax liabilities. In this case, the additional tax liabilities of the Funds will only impact Shares in issue of the Funds at the relevant time, and the then existing Shareholders and subsequent Shareholders of such Funds will be disadvantaged as such Shareholders will bear, through the Funds, a disproportionately higher amount of tax liabilities as compared to that borne at the time of investment in the Funds. On the other hand, if the actual applicable tax rate levied by SAT is lower than that provided for by Aberdeen Global so that there is an excess in the tax provision amount, Shareholders who have redeemed their Shares before SAT s ruling, decision or guidance in this respect will be disadvantaged as they would have borne the loss from the overprovision. In this case, the then existing and new Shareholders may benefit if the difference between the tax provision and the actual taxation liability under that lower tax rate can be returned to the account of the Funds as assets thereof. Notwithstanding the above change in tax provisioning approach, persons who have already redeemed their Shares in the Funds before the return of any overprovision to the account of the Funds will not be entitled to or have any right to claim any part of such overprovision. Shareholders may be advantaged or disadvantaged depending upon the final tax liabilities, the level of provision and when they subscribed and/or redeemed their Shares in the Funds. Shareholders should seek their own tax advice on their tax position with regard to their investment in the Funds. For the following Funds, namely Aberdeen Global - Asian Local Currency Short Duration Bond Fund and Aberdeen Global Chinese Equity Fund, no more than 30% of each of the Fund s Net Asset Value in aggregate may be invested directly or indirectly in Mainland Chinese assets (including but not limited to A shares, B shares and debt securities). It is the current intention of Aberdeen Global - Asian Local Currency Short Duration Bond Fund and Aberdeen Global Chinese Equity Fund to invest less than 30% of each of the Fund s Net Asset Value in aggregate directly or indirectly in Mainland Chinese assets (including but not limited to A shares, B shares and debt securities). For so long as Aberdeen Global - Asian Local Currency Short Duration Bond Fund and Aberdeen Global Chinese Equity Fund remain authorised under the Securities and Futures Ordinance, Aberdeen Global will provide Shareholders with prior written notification of not less than one month (or such other period as the SFC may require) and update the offering documents should Aberdeen Global intend to change the abovementioned exposure to Mainland Chinese assets in future. TAXATION OF INDIAN EQUITIES Indian General Anti-Avoidance Rules (GAAR) was first introduced into India s tax statute in 2012, and empowered the Revenue with discretion in taxing impermissible avoidance arrangements, disregarding entities, re-characterizing income and denying treaty benefits. The Finance Act, 2015 proposes to defer the applicability of Indian GAAR to 1 April Where the Indian GAAR is successfully invoked, the treaty provisions could be overridden by Indian domestic law. The Indian GAAR is a new piece of legislation and therefore there is little guidance in terms of best practice over its application. However, it is clear that Indian GAAR is drafted very widely and the interpretation of it will be subjective and open to conflicting interpretation. COMPLIANCE WITH U.S. REPORTING AND WITHHOLDING REQUIREMENTS The FATCA generally impose a U.S. federal reporting and withholding tax regime with respect to certain U.S. source income (including, among other types of income, dividends and interest) and gross proceeds from the sale or other disposal of property. The rules are designed to require certain U.S. persons direct and indirect ownership of certain non-u.s. accounts and non-u.s. entities to be reported to the U.S. Internal Revenue Service. The 30% withholding tax regime could apply if there is a failure to provide certain required information. On 28 March 2014, the Grand-Duchy of Luxembourg entered into a Model 1 Intergovernmental Agreement ( IGA ) with the United States of America and a memorandum of understanding in respect thereof. Aberdeen Global would hence have to comply with such Luxembourg IGA, as implemented into Luxembourg law by the law of 24 July 2015 relating to FATCA (the FATCA Law ) in order to comply with the provisions of FATCA rather than directly complying with the US Treasury Regulations implementing FATCA. Under the FATCA Law and the Luxembourg IGA, Aberdeen Global may be required to collect information aiming to identify its direct and indirect Shareholders that are Specified US Persons for FATCA purposes ( reportable accounts ). Any such information on reportable accounts provided to Aberdeen Global will be shared with the Luxembourg tax authorities which will exchange that information on an automatic basis with the Government of the United States of America pursuant to Article 28 of the convention between the Government of the United States of America and the Government of the Grand-Duchy of Luxembourg for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes in Income and Capital, entered into in Luxembourg on 3 April Aberdeen Global intends to comply with the provisions of the FATCA Law and the Luxembourg IGA to be deemed compliant with FATCA and will thus not be subject to the 30% withholding tax with respect to its share of any such payments attributable to actual and deemed U.S. investments of Aberdeen Global. Aberdeen Global will continually assess the extent of the requirements that FATCA and notably the FATCA Law places upon it

116 To ensure Aberdeen Global's compliance with FATCA, the FATCA Law and the Luxembourg IGA in accordance with the foregoing, Aberdeen Global or the Management Company, in its capacity as the Aberdeen Global s management company or the Administrator, may: a) request information or documentation, including self-certification forms, a Global Intermediary Identification Number, if applicable, or any other valid evidence of a shareholder s FATCA registration with the IRS or a corresponding exemption, in order to ascertain such shareholder s FATCA status; b) report information concerning a shareholder and his account holding in Aberdeen Global to the Luxembourg tax authorities if such account is deemed a US reportable account under the FATCA Law and the Luxembourg IGA; c) deduct applicable US withholding taxes from certain payments made to a Shareholder by or on behalf of Aberdeen Global in accordance with FATCA and the FATCA Law and the Luxembourg IGA; and d) divulge any such personal information to any immediate payer of certain U.S. source income as may be required for withholding and reporting to occur with respect to the payment of such income. Any withholding obligation would be carried out in accordance with applicable laws and regulations and the Management Company will act in good faith and on reasonable grounds in relation thereto. Although Aberdeen Global will attempt to satisfy any obligations imposed on it to avoid the imposition of FATCA withholding tax, no assurance can be given that Aberdeen Global will be able to satisfy these obligations. If Aberdeen Global becomes subject to a withholding tax as a result of the FATCA regime, the value of the Shares held by the Shareholders may suffer material losses. The Fund has been registered with the US Internal Revenue Service as at the date of this Summary Prospectus. Each prospective investor should consult with its own tax advisor regarding the potential impact of FATCA on its investments in the Fund. MEETINGS AND REPORTS The Annual General Meeting of Shareholders of Aberdeen Global will normally be held at the registered office of Aberdeen Global in Luxembourg at 11:00 hours on the twenty-first day of February of each year, or, if such day is not a Business Day, the next Business Day thereafter. Notices of General Meetings and other notices (which shall include the place and time of the meetings, conditions of admission, agenda, quorum and voting requirements) are given in accordance with Luxembourg law. The requirements for attendance, quorum and majorities at all General Meetings will be those specified in Aberdeen Global s Articles of Incorporation. The Board of Directors may decide in accordance with Aberdeen Global s articles and applicable laws and regulations, to hold the Annual General Meeting of Shareholders at another date, time or place than as set forth above, which shall be communicated to the Shareholders by notice. Aberdeen Global s financial year ends on 30 September of each year. Copies of the annual reports (available in English only) giving details of each of the Funds together with the audited combined annual accounts of Aberdeen Global (in US Dollars) will be available at the registered office of Aberdeen Global within four months of the end of the year which it covers. In addition, an interim report (available in English only) including unaudited combined half-yearly accounts will be available, in the same manner within two months of the period which it covers. Electronic versions of these reports will be available at Investors should note that this website has not been reviewed by the SFC. TERMINATION OF ABERDEEN GLOBAL OR THE FUND Aberdeen Global is established for an unlimited duration but may be dissolved at any time by a resolution of Shareholders. In the event that for a period of 30 consecutive days, for any reason the aggregate of the Net Asset Values of all Shares shall be less than US$10,000,000, Aberdeen Global may give notice and liquidate Aberdeen Global. In the case of an individual Fund, having an aggregate Net Asset Value of less than US$10,000,000 for a period of 30 consecutive days, Aberdeen Global may give notice and terminate that Fund. Please refer to Appendix C for further details

117 INVESTMENT AND BORROWING POWERS AND RESTRICTIONS Aberdeen Global invests the assets of the respective Funds in accordance with the investment objective and the principles of risk-spreading. The full details of the investment restrictions are contained in the Articles of Incorporation and the Appendix A. DOCUMENTS AVAILABLE FOR INSPECTION Copies of the following documents are available for inspection during usual business hours on any weekday (Saturdays, Sundays and public holidays excepted) at the offices of the Global Distributor and at the registered office of Aberdeen Global (where a copy of the documents specified in (a) and (c) below may be obtained on request, free of charge): (a) the Articles of Incorporation of Aberdeen Global and of the Subsidiary; (b) the latest unaudited interim reports and the latest audited annual reports of Aberdeen Global; (c) the latest Summary Prospectus; (d) the agreement between Aberdeen Global and the Management Company; (e) the agreements concluded by Aberdeen Global with the Paying Agent, and the Custodian and Listing Agent; (f) the agreements concluded by Aberdeen Global and the Management Company with the Administrator, the Investment Manager and the Global Distributor; (g) the agreements between the Investment Manager with each of the Investment Advisers; (h) details of the investment restrictions under the Law applicable to the Funds will be available at the Investment Manager s office detailed below; and (i) information regarding the risk management and control policy, procedures and methods employed by Aberdeen Global. If you have any enquiries or complaints relating to your investment in Aberdeen Global, please contact the Hong Kong Representative at the address listed on page 12 of this document, or by telephone (852) or fax (852) Depending on the nature and of an enquiry/complaint, it will be dealt with either by the Hong Kong Representative directly, or referred to the Management Company for further handling. The Hong Kong Representative or the Management Company will respond to any enquiry or complaint in writing as soon as possible and in any event within three business days from the date of receipt of such enquiry or complaint. OTHER INFORMATION The Investment Manager, the Investment Advisers and any of their respective Connected Persons (collectively the Managers ) may effect transactions by or through the agency of another person which whom the Managers and any of their Connected Persons have an arrangement under which that party will from time to time provide to or procure for the Managers goods, services or other benefits (such as research or advisory services, computer hardware associated with specialised software or research services and performance measures) the nature of which is such that their provision can reasonably be expected to benefit Aberdeen Global as a whole and may contribute to an improvement in the performance of Aberdeen Global or of the Managers in providing services to Aberdeen Global and for which no direct payment is made but instead the Managers undertake to place business with that party. For the avoidance of doubt, such goods and services do not include travel, accommodation, entertainment, general administrative goods or services, general office equipment or premises, membership fees, employee salaries or direct money payments. Such transactions will be carried out in accordance with best execution standards, and brokerage commissions on such transactions will be at rates not in excess of customary institutional full-service brokerage rates. The Managers shall not retain the benefit of any cash commission rebate (being repayment of a cash commission made by a broker or dealer to the Managers) paid or payable from any such broker or dealer in respect of any business placed with such broker or dealer by the Managers for or on behalf of Aberdeen Global. Any such cash commission rebate received from any such broker or dealer will be held by the Managers for the account of Aberdeen Global. Personal data provided by individuals in applying for shares of or otherwise in connection with the Aberdeen Global may be used in such manner and transferred to such persons as may be necessary in connection with Aberdeen Global

118 Individuals have the right to require access to and/or correction of personal data, or to request that personal data not to be used for direct marketing purposes by contacting the Global Distributor. CONVERSION UNDER THE LAW Financial Derivative Instruments Although Aberdeen Global is now authorised by the CSSF in Luxembourg under Part 1 of the Law and this Summary Prospectus has incorporated the investment restrictions under the Law, for so long as Aberdeen Global remains authorised by the SFC in Hong Kong, and unless otherwise approved by the SFC, the Funds (except Aberdeen Global - Select Global Credit Bond Fund, Aberdeen Global Asian Local Currency Short Duration Bond Fund, Aberdeen Global - Brazil Bond Fund, Aberdeen Global Emerging Markets Local Currency Bond Fund and Aberdeen Global Emerging Markets Corporate Bond Fund in which financial derivative instruments are used in accordance with the Law) will not enter into financial derivative instruments (other than hedging purposes) and will not invest in financial derivative instruments extensively for investment purposes. For the purpose of clarity, the following Funds will not use financial derivative instruments extensively for investment purposes and may use derivatives for hedging: Aberdeen Global - Asia Pacific Equity Fund Aberdeen Global - Asian Property Share Fund Aberdeen Global - Asian Smaller Companies Fund Aberdeen Global - Australasian Equity Fund Aberdeen Global - Brazil Equity Fund Aberdeen Global - Chinese Equity Fund Aberdeen Global - European Equity Dividend Fund Aberdeen Global - Eastern European Equity Fund Aberdeen Global - Emerging Markets Equity Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund Aberdeen Global - Emerging Markets Smaller Companies Fund Aberdeen Global - European Equity Fund Aberdeen Global - European Equity (Ex UK) Fund Aberdeen Global - Indian Equity Fund Aberdeen Global - Japanese Equity Fund Aberdeen Global - Japanese Smaller Companies Fund Aberdeen Global - Latin American Equity Fund Aberdeen Global - North American Equity Fund Aberdeen Global - North American Smaller Companies Fund Aberdeen Global - Responsible World Equity Fund Aberdeen Global - Russian Equity Fund Aberdeen Global - Select Emerging Markets Bond Fund Aberdeen Global - Select Euro High Yield Bond Fund Aberdeen Global - Select High Yield Bond Fund Aberdeen Global - Technology Equity Fund Aberdeen Global - UK Equity Fund Aberdeen Global - World Equity Fund Aberdeen Global - World Resources Equity Fund Aberdeen Global - World Smaller Companies Fund For the following Funds, namely Aberdeen Global - Asian Local Currency Short Duration Bond Fund, Aberdeen Global Brazil Bond Fund, Aberdeen Global - Emerging Markets Corporate Bond Fund, Aberdeen Global - Emerging Markets Local Currency Bond Fund and Aberdeen Global Select Global Credit Bond Fund, which will utilise financial derivative

119 instruments for investment purposes, none of the Funds will utilise financial derivative instruments extensively for investment purposes. Investment Objectives, Policies and Restrictions In addition, for so long as Aberdeen Global and the Funds remain authorised under the Securities and Futures Ordinance, Aberdeen Global will provide Shareholders with prior written notification of not less than one month (or such other period as the SFC may require) and update the offering documents should Aberdeen Global intend to change the investment objectives, policy and/or restrictions applicable to the Funds in future. Details of the investment restrictions under the Law applicable to the Funds will be available at the Investment Manager s office detailed below

120 Appendix A - Investment Restrictions, Investment Techniques and Risk Management Process INVESTMENT POWERS AND RESTRICTIONS Aberdeen Global has the following investment powers and restrictions: I. Aberdeen Global may invest in: a) Transferable Securities and Money Market Instruments admitted to or dealt in on a Regulated Market; b) recently issued Transferable Securities and Money Market Instruments, provided that the terms of issue include an undertaking that application will be made for admission to official listing on a Regulated Market and such admission is secured within one year of the issue; c) units of UCITS and/or Other UCIs, whether situated in a Member State or not, provided that: - such Other UCIs have been authorised under the laws which provide that they are subject to supervision considered by the CSSF to be equivalent to that laid down in Community law, and that cooperation between authorities is sufficiently ensured.; - the level of protection for unitholders in such Other UCIs is equivalent to that provided for unitholders in a UCITS, and in particular that the rules on asset segregation, borrowing, lending, and uncovered sales of Transferable Securities and Money Market Instruments are equivalent to the requirements of Directive 2009/65/EC, as amended; - the business of such Other UCIs is reported in half-yearly and annual reports to enable an assessment of the assets and liabilities, income and operations over the reporting period; - no more than 10% of the assets of the UCITS or of the Other UCIs, whose acquisition is contemplated, can, according to their constitutional documents, in aggregate be invested in units of other UCITS or Other UCIs; d) deposits with credit institutions which are repayable on demand or have the right to be withdrawn, and maturing in no more than 12 months, provided that the credit institution has its registered office in a Member State or if the registered office of the credit institution is situated in a non- Member State provided that it is subject to prudential rules considered by the CSSF as equivalent to those laid down in Community law; e) financial derivative instruments, including equivalent cash-settled instruments, dealt in on a Regulated Market and/or financial derivative instruments dealt in over-the-counter ( OTC derivatives ), provided that: - the underlying consists of instruments covered by this paragraph I., financial indices, interest rates, foreign exchange rates or currencies, in which the Fund may invest according to its investment objective; - the counterparties to OTC derivative transactions are institutions subject to prudential supervision, and belonging to the categories approved by the Luxembourg supervisory authority; - the OTC derivatives are subject to reliable and verifiable valuation on a daily basis and can be sold, liquidated or closed by an offsetting transaction at any time at their fair value at Aberdeen Global s initiative; and/or f) Money Market Instruments other than those dealt in on a Regulated Market, if the issue or the issuer of such instruments is itself regulated for the purpose of protecting investors and savings, and provided that such instruments are: - issued or guaranteed by a central, regional or local authority or by a central bank of a Member State, the European Central Bank, the EU or the European Investment Bank, a non- Member State or, in case of a Federal State, by one of the members making up the federation, or by a public international body to which one or more Member States belong, or - issued by an undertaking any securities of which are dealt in on Regulated Markets, or - issued or guaranteed by an establishment subject to prudential supervision, in accordance with criteria defined by the Community law, or by an establishment which is subject to and complies with prudential rules considered by the Luxembourg authority to be at least as stringent as those laid down by Community law, or

121 - issued by other bodies belonging to the categories approved by the CSSF provided that investments in such instruments are subject to investor protection equivalent to that laid down in the first, the second or the third indent and provided that the issuer is a company whose capital and reserves amount to at least ten million euro (Euro 10,000,000) and which presents and publishes its annual accounts in accordance with the fourth directive 78/660/EEC, is an entity which, within a group of companies which includes one or several listed companies, is dedicated to the financing of the group or is an entity which is dedicated to the financing of securitisation vehicles which benefit from a banking liquidity line. In addition, Aberdeen Global may invest a maximum of 10% of the net assets of any Fund in Transferable Securities and Money Market Instruments other than those referred to under paragraphs a) through f) above. II. Aberdeen Global may hold ancillary liquid assets. III. a) (i) Aberdeen Global will invest no more than 10% of the net assets of any Fund in Transferable Securities or Money Market Instruments issued by the same issuing body. (ii) Aberdeen Global may not invest more than 20% of the net assets of any Fund in deposits made with the same body. The risk exposure of a Fund to a counterparty in an OTC derivative transaction may not exceed 10% of its net assets when the counterparty is a credit institution referred to in paragraph I. d) above or 5% of its net assets in other cases. b) Moreover, where Aberdeen Global holds on behalf of a Fund investments in Transferable Securities and Money Market Instruments of issuing bodies which individually exceed 5% of the net assets of such Fund, the total of all such investments must not account for more than 40% of the total net assets of such Fund. This limitation does not apply to deposits and OTC derivative transactions made with financial institutions subject to prudential supervision. Notwithstanding the individual limits laid down in paragraph a), Aberdeen Global may not combine for each Fund: - investments in Transferable Securities or Money Market Instruments issued by a single body; - deposits made with the same body and/or; - exposure arising from OTC derivative transactions undertaken with the same body in excess of 20% of its net assets. c) The limit of 10% laid down in sub-paragraph a) (i) above is increased to a maximum of 35% in respect of Transferable Securities or Money Market Instruments which are issued or guaranteed by a Member State, its local authorities, or by another Eligible State or by public international bodies of which one or more Member States are members. d) The limit of 10% laid down in sub-paragraph a) (i) is increased to 25% for certain bonds when they are issued by a credit institution which has its registered office in a Member State and is subject by law, to special public supervision designed to protect bondholders. In particular, sums deriving from the issue of these bonds must be invested in conformity with the law in assets which, during the whole period of validity of the bonds, are capable of covering claims attaching to the bonds and which, in case of bankruptcy of the issuer, would be used on a priority basis for the repayment of principal and payment of the accrued interest. If a Fund invests more than 5% of its net assets in the bonds referred to in this sub-paragraph and issued by one issuer, the total value of such investments may not exceed 80% of the net assets of the Fund. e) The Transferable Securities and Money Market Instruments referred to in paragraphs c) and d) shall not be included in the calculation of the limit of 40% in paragraph b). The limits set out in paragraphs a), b), c) and d) may not be aggregated and, accordingly, investments in Transferable Securities or Money Market Instruments issued by the same issuing body, in deposits or in financial derivative instruments effected with the same issuing body may not, in any event, exceed a total of 35% of any Fund's net assets; Companies which are part of the same group for the purposes of the establishment of consolidated accounts, as defined in accordance with directive 83/349/EEC or in accordance with recognised international accounting rules, are regarded as a single body for the purpose of calculating the limits contained in this paragraph III)

122 IV. a) Aberdeen Global may cumulatively invest up to 20% of the net assets of a Fund in Transferable Securities and Money Market Instruments within the same group. f) Notwithstanding the above provisions, Aberdeen Global is authorised to invest up to 100% of the net assets of any Fund, in accordance with the principle of risk spreading, in Transferable Securities and Money Market Instruments issued or guaranteed by a Member State, by its local authorities or agencies, by a State accepted by the Luxembourg supervisory authority (being at the date of this Summary Prospectus OECD member states, Singapore and any member state of the G20) or by public international bodies of which one or more member states of the European Union are members, provided that such Fund must hold securities from at least six different issues and securities from one issue do not account for more than 30% of the net assets of such Fund. Without prejudice to the limits laid down in paragraph V., the limits provided in paragraph III. are raised to a maximum of 20% for investments in shares and/or bonds issued by the same issuing body if the aim of the investment policy of a Fund is to replicate the composition of a certain stock or bond index which is sufficiently diversified, represents an adequate benchmark for the market to which it refers, is published in an appropriate manner and disclosed in the relevant Fund's investment policy. b) The limit laid down in paragraph a) is raised to 35% where this proves to be justified by exceptional market conditions, in particular on Regulated Markets where certain Transferable Securities or Money Market Instruments are highly dominant. The investment up to this limit is only permitted for a single issuer. V. a) Aberdeen Global may not acquire shares carrying voting rights which should enable it to exercise significant influence over the management of an issuing body. b) Aberdeen Global may acquire no more than: - 10% of the non-voting shares of the same issuer; - 10% of the debt securities of the same issuer; - 10% of the Money Market Instruments of the same issuer. c) These limits under second and third indents may be disregarded at the time of acquisition, if at that time the gross amount of debt securities or of the Money Market Instruments or the net amount of the instruments in issue cannot be calculated. The provisions of paragraph V. shall not be applicable to Transferable Securities and Money Market Instruments issued or guaranteed by a Member State or its local authorities or by any other Eligible State, or issued by public international bodies of which one or more Member States are members. These provisions are also waived as regards shares held by Aberdeen Global in the capital of a company incorporated in a non-member State which invests its assets mainly in the securities of issuing bodies having their registered office in that State, where under the legislation of that State, such a holding represents the only way in which Aberdeen Global can invest in the securities of issuing bodies of that State provided that the investment policy of the company from the non-member State of the EU complies with the limits laid down in paragraphs III., V. and VI. a), b), c) and d). VI. a) Except if otherwise disclosed in the Prospectus in relation to a given Fund, Aberdeen Global may acquire units of UCITS and/or Other UCIs referred to in paragraph I. c) (including those managed by the Investment Manager or its affiliates), provided that no more than 10% of a Fund's net assets be invested in the units of UCITS or Other UCIs or in one single such UCITS or Other UCI. In case a Fund may invest more than 10% in UCITS or Other UCIs, such Fund may not invest more than 20% of its net assets in units of a single UCITS or Other UCI. For the purpose of the application of this investment limit, each compartment of a UCITS or Other UCI with multiple compartments is to be considered as a separate issuer provided that the principle of segregation of the obligations of the various compartments vis-à-vis third parties is ensured. b) Investments made in units of Other UCIs may not, in aggregate, exceed 30% of the net assets of such Fund. c) The underlying investments held by the UCITS or Other UCIs in which Aberdeen Global invests do not have to be considered for the purpose of the investment restrictions set forth under III. above. d) When Aberdeen Global invests in the units of UCITS and/or Other UCIs that are managed directly or by delegation by the Management Company or by any other company with which the Management Company is linked by common management or control, or by a substantial direct or indirect holding of more than 10% of the capital or votes, the Management Company or other company cannot charge subscription or redemption fees to Aberdeen Global on account of its investment in the units of such UCITS and/or Other UCIs

123 VII.a) VIII. In respect of a Fund's investments in UCITS and Other UCIs that are managed directly or by delegation by the Management Company or by any other company with which the Management Company is linked by common management or control, or by a direct or indirect holding of more than 10% of the capital or votes, a management fee at the level of the relevant Fund and the UCITS and Other UCIs (excluding any performance fee, if any) of no more than 5% of the Net Asset Value of the relevant Fund may be charged. Aberdeen Global will indicate in its annual report the total management fees charged both to the relevant Fund and to the UCITS and Other UCIs in which such Fund has invested during the relevant period. e) Aberdeen Global may acquire no more than 25% of the units of the same UCITS or Other UCI. This limit may be disregarded at the time of acquisition if at that time the gross amount of the units in issue cannot be calculated. In case of a UCITS or Other UCI with multiple compartments, this restriction is applicable by reference to all units issued by the UCITS or Other UCI concerned, all compartments combined. Under the conditions and within the limits laid down by the Law, Aberdeen Global may, to the widest extent permitted by the Luxembourg laws and regulations (i) create any Fund qualifying either as a feeder UCITS (a Feeder UCITS ) or as a master UCITS (a Master UCITS ), (ii) convert any existing Fund into a Feeder UCITS, or (iii) change the Master UCITS of any of its Feeder UCITS. b) A Feeder UCITS shall invest at least 85% of its assets in the units of another Master UCITS. A Feeder UCITS may hold up to 15% of its assets in one or more of the following: - ancillary liquid assets in accordance with paragraph II ; - financial derivative instruments, which may be used only for hedging purposes. c) For the purposes of compliance with paragraph IX., the Feeder UCITS shall calculate its global exposure related to financial derivative instruments by combining its own direct exposure under the second indent of b) with either: - the Master UCITS actual exposure to financial derivative instruments in proportion to the Feeder UCITS investment into the Master UCITS; or - the Master UCITS potential maximum global exposure to financial derivative instruments provided for in the Master UCITS management regulations or instruments of incorporation in proportion to the Feeder UCITS investment into the Master UCITS. d) As of the date of this Summary Prospectus, none of the Funds qualify as a Feeder UCITS. A Fund (the Investing Fund ) may subscribe, acquire and/or hold securities to be issued or issued by one or more Funds (each a Target Fund ) under the condition that: - the Target Fund does not, in turn, invest in the Investing Fund invested in this Target Fund; and - no more than 10% of the assets of the Target Fund whose acquisition is contemplated may, according to its investment policy, be invested in units of other UCITS or Other UCIs; and - voting rights, if any, attaching to the relevant securities are suspended for as long as they are held by the Investing Fund concerned and without prejudice to the appropriate processing in the accounts and the periodic reports; and - the Investing Fund may not invest more than 20% of its net assets in shares/units of a single Target Fund; and IX. - for as long as these securities are held by the Investing Fund, their value will not be taken into consideration for the calculation of the net assets of Aberdeen Global for the purposes of verifying the minimum threshold of the net assets imposed by the Law. Aberdeen Global shall ensure for each Fund that the global exposure relating to financial derivative instruments does not exceed the net assets of the relevant Fund. The exposure is calculated taking into account the current value of the underlying assets, the counterparty risk, foreseeable market movements and the time available to liquidate the positions. This shall also apply to the following subparagraphs. If Aberdeen Global invests in financial derivative instruments, the exposure to the underlying assets may not exceed in aggregate the investment limits laid down in paragraph III above. When Aberdeen Global invests in index-based financial derivative instruments, these investments do not have to be combined to the limits laid down in paragraph III

124 When a Transferable Security or Money Market Instrument embeds a derivative, the latter must be taken into account when complying with the requirements of this paragraph IX. X. a) Aberdeen Global may not borrow for the account of any Fund amounts in excess of 10% of the net assets of that Fund, any such borrowings to be from banks and to be effected only on a temporary basis, provided that Aberdeen Global may acquire foreign currencies by means of back to back loans; b) Aberdeen Global may not grant loans to or act as guarantor on behalf of third parties. XI. This restriction shall not prevent Aberdeen Global from (i) acquiring Transferable Securities, Money Market Instruments or other financial derivative instruments referred to in paragraphs I. c), e) and f) which are not fully paid, and (ii) performing permitted securities lending activities, that shall not be deemed to constitute the making of a loan. c) Aberdeen Global may not carry out uncovered sales of Transferable Securities, Money Market Instruments or other financial derivative instruments. d) Aberdeen Global may not acquire movable or immovable property. e) Aberdeen Global may not acquire either precious metals or certificates representing them. a) Aberdeen Global needs not comply with the limits laid down in this Appendix when exercising subscription rights attaching to Transferable Securities or Money Market Instruments which form part of its assets. While ensuring observance of the principle of risk spreading, recently created Funds may derogate from paragraphs III, IV. and VI. a), b) and c) for a period of six months following the date of their creation. b) If the limits referred to in paragraph a) are exceeded for reasons beyond the control of Aberdeen Global or as a result of the exercise of subscription rights, it must adopt as a priority objective for its sales transactions the remedying of that situation, taking due account of the interest of its Shareholders. c) To the extent that an issuer is a legal entity with multiple compartments where the assets of the compartment are exclusively reserved to the investors in such compartment and to those creditors whose claim has arisen in connection with the creation, operation or liquidation of that compartment, each compartment is to be considered as a separate issuer for the purpose of the application of the risk spreading rules set out in paragraphs III., IV and VI. Aberdeen Global will in addition comply with such further restrictions as may be required by the regulatory authorities in any country in which the Shares are marketed. ADDITIONAL COUNTRY SPECIFIC INVESTMENT RESTRICTIONS A list of the countries of registration of each of the Funds is available at the registered office of Aberdeen Global. SOUTH AFRICA If and for so long as a Fund of Aberdeen Global is authorised by the Financial Services Board in South Africa, the following shall apply in addition to the restrictions set out above: (a) the Fund may borrow up to 10% of its net asset value, but only on a temporary basis for the purpose of meeting redemption requests; (b) for Funds investing in equity or equity-related securities, 90% of such equity or equity-related securities of such Fund shall only be invested in stock exchanges having obtained full membership of the World Federation of Exchanges or stock exchanges to which the Management Company has applied (and which have satisfied the requirements of), amongst other things, the due diligence guidelines as determined by the registrar; (c) for Funds investing in debt instruments or other eligible instruments, 90% of such instruments held by such Fund must have a credit rating of investment grade by Standard & Poor s, Moody s or Fitch Ratings Limited; (d) the Fund may hold units of other UCITS or Other UCIs, provided that such UCITS or Other UCIs have a risk profile which is not significantly riskier than the risk profile of other underlying securities which may be held by the Fund; (e) Derivative instruments will be used within the limits stated above. No gearing, leveraging and/or margining shall be permitted. However, investment in OTC derivative instruments will only be permitted for forward currencies. No uncovered positions shall be permitted; (f) the Fund shall not invest in a fund of funds or a feeder fund; (g) no scrip borrowing shall be permitted; and

125 (h) securities lending transactions may not be carried out on more than 50% of the aggregate market value of the securities of each Fund s portfolio. TAIWAN If and for so long as a Fund of Aberdeen Global is offered and distributed in Taiwan, the Republic of China (R.O.C.), the following additional restrictions shall apply:- (a) Unless exempted by the Financial Supervisory Commission (the FSC ), the total value of such Fund's non offset short position in derivatives for hedging purpose shall not exceed the total market value of the relevant securities held by such Fund and the risk exposure of the non offset position in derivative products held by such Fund for purpose of increase of investment efficiency shall not exceed 40% (or such other percentage stipulated by the FSC from time to time) of the Net Asset Value of such Fund; (b) The Funds shall not invest in gold, commodities or real estate; (c) Each Fund s investments in securities issued in the Mainland China securities market shall be limited to listed securities and the total amount of such investments shall not exceed 10% (or such other percentage stipulated by the FSC from time to time) of the Net Asset Value of such Fund; FRANCE (d) The investments in each Fund by R.O.C. investors shall not exceed 70% (or such other percentage stipulated by the FSC from time to time) of the Net Asset Value of such Fund; and (e) The investment of each Fund in securities issued in the R.O.C. shall not exceed 70% (or such other percentage stipulated by the FSC from time to time) of the Net Asset Value of such Fund. If and for so long as a Fund of Aberdeen Global requires eligibility for the French Plan d Epargne en Actions (PEA), the following additional restriction shall apply:- (a) The Fund shall invest at least 75% of its total assets in equity securities issued by companies which have their head office in the European Union, Norway or Iceland. HONG KONG If and for so long as a Fund of Aberdeen Global is authorised under the Securities and Futures Ordinance, in Hong Kong, the following additional restrictions shall apply:- (a) The Management Company may not obtain a rebate on any fees or charges levied by an underlying scheme or its management company. (b) Where a Fund invests in a Target Fund that is managed by the Management Company or its connected person, all initial charges of the Target Funds will be waived. (c) For the following Funds, namely Aberdeen Global - Asian Local Currency Short Duration Bond Fund and Aberdeen Global Chinese Equity Fund, no more than 30% of each of the Fund s Net Asset Value in aggregate may be invested directly or indirectly in Mainland Chinese assets (including but not limited to A shares, B shares and debt securities). It is the current intention of Aberdeen Global - Asian Local Currency Short Duration Bond Fund and Aberdeen Global Chinese Equity Fund to invest less than 30% of each of the Fund s Net Asset Value in aggregate directly or indirectly in Mainland Chinese assets (including but not limited to A shares, B shares and debt securities). (d) For Aberdeen Global Brazil Equity Fund, Aberdeen Global Emerging Markets Corporate Bond Fund, Aberdeen Global North American Smaller Companies Fund and Aberdeen Global World Smaller Companies Fund, no more than 10% of a Fund s Net Asset Value may be invested in securities issued or guaranteed by any single country (including its government, a public or local authority or nationalised industry of that country) with a credit rating below investment grade (or, in the case of Aberdeen Global World Smaller Companies Fund, are unrated). In this case, credit ratings in general refer to those from an internationally recognised credit agency

126 KOREA If and for so long as a Fund of Aberdeen Global is registered in Korea, the following additional restrictions shall apply: (a) A Fund s securities shall be issued for the unidentified public, and 10% or more of the Shares issued by the Fund shall be sold outside of the Republic of Korea; (b) 60% or more of a Fund s net assets shall be invested in non-korean Won-denominated securities (including foreign collective investment securities) or products in a country other than Korea; (c) A policy under which: a Fund s business entity or its affiliated company, any executive or significant shareholder (referring to a shareholder who holds more than 10% of the outstanding stocks in his/her own name or any other person s name) of any of the afore-mentioned companies, or the spouse of such executive or shareholder shall not conduct any transaction with the collective investment property for his/her own interest, except where conflicts of interest are not likely to occur in trading with the foreign collective investment scheme, such as transactions through an open market. INVESTMENT TECHNIQUES AND INSTRUMENTS AND USE OF FINANCIAL DERIVATIVE INSTRUMENTS Techniques and Instruments To the maximum extent allowed by, and within the limits set forth in, the Law and any present or future related Luxembourg laws or implementing regulations, circulars and CSSF s positions, in particular the provisions of (i) article 11 of the Grand-Ducal regulation of 8 February 2008 relating to certain definitions of the law of 20 December 2002 on undertakings for collective investments 7 ; (ii) CSSF Circular 08/356 relating to the rules applicable to undertakings for collective investments when they use certain techniques and instruments relating to transferable securities and money market instruments ( CSSF Circular 08/356 (as these regulations may be amended or replaced from time to time)); and (iii) CSSF Circular 14/592 relating to ESMA Guidelines on ETFs and other UCITS, each Fund of Aberdeen Global may for the purpose of generating additional capital or income or for reducing costs or risks (a) enter, either as purchaser or seller, into optional as well as non optional repurchase and reverse repurchase transactions and (b) engage in securities lending transactions. (a) Repurchase Transactions and Reverse Repurchase Transactions 8 In order to generate additional revenue for Funds, Aberdeen Global may participate in Repurchase and Reverse Repurchase Transactions subject to complying with the provisions set forth, inter alia, in CSSF Circular 08/356 and CSSF Circular 14/592 as the same may be amended or replaced. Under no circumstances shall these operations cause a Fund to diverge from its investment objective as laid down in the Prospectus or result in additional risk higher than its profile as described in the Prospectus. Repurchase Transactions, also known as repos, are financial instruments used in securities and money markets. A buyer of a Repurchase Transactions agrees to provide cash to a counterparty who sells securities and agrees to repurchase those securities from the buyer at a future date. The repurchase price should be greater than the original sale price, the difference effectively representing interest, sometimes called the repo rate. The securities sold by the counterparty are often referred to as collateral. Repurchase Transactions are typically instruments of a short-term nature. Each Fund may invest in securities subject to Repurchase Transactions concluded with high quality financial institutions specialised in this type of transactions. Under such agreements, the seller agrees with the buyer, upon entering into the contract, to repurchase the securities at a mutually agreed upon time and price, thereby determining the repo rate during the time of the agreement. This investment technique permits the buyer to earn 7 The law of 20 December 2002 on undertakings for collective investments has been repealed and replaced by the Law. 8 Aberdeen Global and the Funds currently do not intend to enter into any Repurchase and Reverse Repurchase Agreements. If Aberdeen Global intends to change this policy, Aberdeen Global will seek the SFC s prior approval and provide Shareholders with prior written notification of not less than one month (or such other period as the SFC may require)

127 a fixed rate of return independent from market fluctuations during such period. During the lifetime of a Repurchase Transaction, the buyer may not sell the securities which are the subject of the agreement either before the repurchase of the securities by the counterparty has been carried out or before the repurchase period has expired. Aberdeen Global will ensure to maintain the importance of purchased securities subject to a repurchase obligation at a level such that it is able, at all times to meet redemption requests from its Shareholders. In relation to Repurchase Transactions and Reverse Repurchase Transactions, a service fee may be payable to a third party for agency services in the context of tri-party arrangements. Any revenue received by a Fund arising from Repurchase Transactions and Reverse Repurchase Transactions as reduced by the service fee (if applicable) will be for the benefit of that Fund and be specified in Aberdeen Global s interim and annual reports. Aberdeen Global may act either as a seller (in a Repo) or as a buyer (a Reverse Repo). (b) Lending of Portfolio Securities In order to generate additional revenue, inter alia, for Funds, Aberdeen Global may participate in securities lending transactions subject to complying with the provisions set forth in the CSSF Circular 08/356 and CSSF Circular 14/592 as the same may be amended or replaced. Under no circumstances shall these operations cause a Fund to diverge from its investment objective as laid down in the Summary Prospectus or result in additional risk higher than its profile as described in the Summary Prospectus. In relation to such lending transactions, Aberdeen Global must in principle receive for the Fund concerned security of a value which at the time of the conclusion of the lending agreement must be at least equal to the value of the global valuation of the securities lent. Aberdeen Global may not enter into securities lending transactions unless such lending is fully and continuously secured by the pledge of cash and/or securities issued or guaranteed by an OECD Member State or by local authorities of an OECD Member State or by supranational institutions or organisations with EU, regional or worldwide scope, or by a guarantee of a highly rated financial institution, and blocked in favour of Aberdeen Global until the termination of the lending contract. Lending transactions may not be entered into in respect of more than 50% of the total valuation of the portfolio of each Fund. Such limitation shall not apply where Aberdeen Global has the right at any time to terminate the lending contract and obtain restitution of the securities lent (except where a Fund of Aberdeen Global is authorised by the Financial Services Board of South Africa). Lending transactions may not extend beyond a period of 30 days, except for lending transactions where the securities may be reclaimed at any time by Aberdeen Global. Aberdeen Global will seek to appoint counterparties from a list of approved borrowers who have undergone a credit risk analysis by the Investment Adviser taking into account CSSF rules on counterparty selection, and whose short-term and long-term ratings so rated by Standard & Poor s or Moody s Investor Services or Fitch Ratings must not be lower than such level of short-term and long-term ratings determined by the Investment Adviser to Aberdeen Global. 80% of the gross income generated from any securities lending transaction will accrue to the relevant Fund, while 20% will be paid to the security clearing body or financial institution arranging the securities lending transaction for the relevant Funds. Details of such amounts and the security clearing body or financial institution arranging the securities lending transaction will be disclosed in the interim and annual financial reports of Aberdeen Global. All securities lending transactions will be entered into on arms-length commercial terms. The written consent of the Board is required for any such transactions that are entered into with the Investment Manager or Investment Adviser or its Connected Persons. The counterparties to the transactions described in (a) and (b) above must be subject to prudential supervision rules considered by the CSSF as equivalent to those prescribed by Community law and specialised in this type of transaction. In respect of securities loans and in accordance with its collateral policy, Aberdeen Global will ensure that its counterparty delivers and each day maintains collateral of at least the market value of the securities lent. Such collateral must be in the form of:

128 (i) (ii) liquid assets (i.e., cash and short term bank certificates, money market instruments as defined in Council Directive 2007/16/EC of 19 March 2007) and their equivalent (including letters of credit and a guarantee at first-demand given by a first class credit institution not affiliated to the counterparty); bonds issued or guaranteed by a Member State of the OECD or their local authorities or by supranational institutions and undertakings with EU, regional or world-wide scope; (iii) shares or units issued by money market UCIs calculating a net asset value on a daily basis and assigned a rating of AAA or its equivalent; (iv) shares or units issued by UCITS investing mainly in bonds/shares satisfying the conditions under (v) and (vi) hereafter; (v) bonds issued or guaranteed by first class issuers offering an adequate liquidity; or (vi) shares admitted to or dealt in on a Regulated Market or on a stock exchange of a Member State of the OECD, provided that these shares are included in a main index. The proportion of the income that will accrue to a particular Fund from all securities lending transactions cannot be changed without the Board s consent. Any transaction expenses in connection with any securities lending transaction will be met by the Fund concerned. For the valuation of the collateral presenting a significant risk of value fluctuation, Aberdeen Global will apply prudent discount rates. A discount of 20% will be applied for shares or convertible bonds which are comprised in a main index, and 15% for Investment Grade Debt and Debt-Related Securities issued by a non-governmental issuer. Collateral in the form of cash deposits in a currency other than the currency of exposure is also subject to a discount of 10%. As the case may be, cash collateral received by each Fund in relation to any of these transactions may be reinvested in a manner consistent with the investment objectives of such Fund in (a) shares or units issued by short-term money market undertakings for collective investment calculating a daily net asset value and being assigned a rating of AAA or its equivalent, (b) short-term bank deposits, (c) short-term bonds issued or guaranteed by an EU member state, Switzerland, Canada, Japan or the United States or by their local authorities or by supranational institutions and undertakings with EU, regional or world-wide scope, and (d) reverse repurchase agreement transactions according to the provisions described under section XII. Article 43. J) of ESMA Guidelines on ETFs and other UCITS issues released by the CSSF under CSSF Circular 14/592. Such reinvestment will be taken into account for the calculation of each concerned Fund s global exposure, in particular if it creates a leverage effect. Financial Derivative Instruments Each Fund of Aberdeen Global may, subject to the conditions and within the limits laid down in the Law and any present or future related Luxembourg laws or implementing regulations, circulars and CSSF positions (the Regulations ), invest in financial derivative instruments for hedging and/or to manage foreign exchange risks. For certain Funds, where such techniques and instruments are also used for investment purposes, this must be set out in their investment objectives and policies. Financial derivative instruments include, but are not limited to, futures, options, swaps (including, but not limited to, credit and credit-default, interest rate and inflation swaps), forward foreign currency contracts and credit linked notes. All Funds may enter into transactions which include but are not limited to interest rate, equity, index and government bond futures and the purchase and writing of call and put options on securities, securities indices, government bond futures, interest rate futures and swaps. New financial derivative instruments may be developed which may be suitable for use by Aberdeen Global. Aberdeen Global may employ such financial derivative instruments in accordance with the Regulations and collateral received will be according to its collateral policy. The counterparties to such transactions must be subject to prudential supervision rules considered by the CSSF as equivalent to those prescribed by Community law and specialised in this type of transaction. In respect of OTC financial derivative transactions, Aberdeen Global will receive collateral as specified in each of its ISDA Agreement. Such collateral will be in the form of cash. Collateral in the form of cash deposits in a currency other than the currency of exposure is also subject to a discount of 10%. As the case may be, cash collateral received by each Fund in relation to financial derivative instruments may be reinvested in a manner consistent with the investment objectives of such Fund in (a) shares or units issued by short-term money market undertakings for collective investment calculating a daily net asset value and being assigned a rating of AAA or its equivalent, (b) short-term bank deposits, (c)short-term bonds issued or guaranteed by an EU member state, Switzerland, Canada, Japan or the United States or by their local authorities or by supranational institutions and undertakings with EU, regional or world-wide scope, and (d) reverse repurchase agreement transactions according to the

129 provisions described under section XII. Article 43. J) of ESMA Guidelines on ETFs and other UCITS issues released by the CSSF under CSSF Circular 14/592. Such reinvestment will be taken into account for the calculation of each concerned Fund s global exposure, in particular if it creates a leverage effect. RISK MANAGEMENT PROCESS Aberdeen Global and the Management Company will employ a risk-management process which enables them to monitor and measure at any time the risk of the positions and their contribution to the overall risk profile of each Fund. Aberdeen Global and the Management Company will employ, if applicable, a process for accurate and independent assessment of the value of any OTC financial derivative instruments. The risk measurement and monitoring of the Funds will be carried out either using a value at risk (VaR) or a commitment approach. Funds which will either not use financial derivative instruments or limit their use of hedging strategies will be monitored using the commitment approach. The standard risk settings used to determine the VaR of the different sophisticated Funds are with a 99% confidence level and an analysis time horizon of one month (20 days). Where it is possible to determine an appropriate risk benchmark for a Fund as indicated in the table below, the relevant Fund will apply a Relative VaR risk management approach which will measure the risk profile of each Fund against a reference portfolio or risk benchmark (the Risk Benchmark ). If for any reason it is not possible or appropriate to determine a Risk Benchmark for any Fund, then the Management Company will consider adopting an Absolute VaR risk management approach on all of a Fund s portfolio positions. The table below lists the Risk Benchmarks assigned to each Fund. The referenced Risk Benchmark may be subject to change, which shall be updated in this Summary Prospectus at the next available opportunity. Information on the Risk Benchmark applicable to a Fund will be available upon request from the Management Company. Where a Fund s Risk Benchmark is based on a combination of indices, the proportion of each index will be indicated as a percentage of the Risk Benchmark. The column entitled Maximum refers to the regulatory risk limits applied to Funds in accordance with their risk management approach. Under the relative VaR approach, the global exposure of a Fund is determined calculating the VaR of the Funds current portfolio versus the VaR of the reference portfolio: the VaR of the Fund must be lower than twice the VaR of the reference portfolio (i.e.200%). In a case of a Fund for which an absolute VaR approach is used, the maximum absolute VaR that a Fund can have is 20% of its Net Asset Value (NAV). Under the commitment approach, a Fund s total exposure to financial derivative instruments is limited to 100% of Fund s NAV. Where the commitment approach is used for calculation of global exposure or determination of an expected level of leverage, the calculation is in principle based on the conversion of each financial derivative instrument position into the market value of an equivalent position in the underlying asset of that derivative, in accordance with the methods set out under applicable regulation. Fund Risk Management Approach Maximum Risk Benchmark Aberdeen Global - Asia Pacific Equity Fund Commitment 100% N/A Aberdeen Global - Asian Local Currency Short Duration Bond Fund Relative VaR 200% IBoxx Asia ex-japan 1-3 years Aberdeen Global - Asian Property Share Fund Commitment 100% N/A Aberdeen Global - Asian Smaller Companies Fund Commitment 100% N/A Aberdeen Global - Australasian Equity Fund Commitment 100% N/A Aberdeen Global - Brazil Bond Fund Absolute VaR 20% N/A Aberdeen Global - Brazil Equity Fund Commitment 100% N/A Aberdeen Global - Chinese Equity Fund Commitment 100% N/A Aberdeen Global - European Equity Dividend Fund Commitment 100% N/A Aberdeen Global - Eastern European Equity Fund Commitment 100% N/A Aberdeen Global - Emerging Markets Corporate Bond Fund Relative VaR 200% JPM CEMBI Broad Diversified Aberdeen Global - Emerging Markets Equity Fund Commitment 100% N/A

130 Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund Aberdeen Global - Emerging Markets Local Currency Bond Fund Aberdeen Global - Emerging Markets Smaller Companies Fund Risk Management Approach Maximum Risk Benchmark Commitment 100% N/A Relative VaR 200% JPM GBI EM Global Diversified Index Commitment 100% N/A Aberdeen Global - European Equity Fund Commitment 100% N/A Aberdeen Global - European Equity (Ex UK) Fund Commitment 100% N/A Aberdeen Global - Indian Equity Fund Commitment 100% N/A Aberdeen Global - Japanese Smaller Companies Fund Commitment 100% N/A Aberdeen Global - Japanese Equity Fund Commitment 100% N/A Aberdeen Global - Latin American Equity Fund Commitment 100% N/A Aberdeen Global - North American Equity Fund Commitment 100% N/A Aberdeen Global - North American Smaller Companies Fund Commitment 100% N/A Aberdeen Global - Responsible World Equity Fund Commitment 100% N/A Aberdeen Global - Russian Equity Fund Commitment 100% N/A Aberdeen Global - Select Emerging Markets Bond Fund Commitment 100% N/A Aberdeen Global - Select Euro High Yield Bond Fund Commitment 100% N/A Aberdeen Global - Select Global Credit Bond Fund Relative VaR 200% Barcap Global Aggregate Credit (GBP Hedged) Aberdeen Global - Select High Yield Bond Fund Commitment 100% N/A Aberdeen Global - Technology Equity Fund Commitment 100% N/A Aberdeen Global - UK Equity Fund Commitment 100% N/A Aberdeen Global - World Equity Fund Commitment 100% N/A Aberdeen Global - World Resources Equity Fund Commitment 100% N/A Aberdeen Global - World Smaller Companies Fund Commitment 100% N/A The expected maximum level of leverage per Fund for which a VaR risk management approach is used is set out below, which has been calculated using the Sum of Notionals of the derivatives used as well as the commitment approach calculation used for the Fund s global risk exposure. The Sum of Notionals calculation shows the total sum of the principal values of all derivatives used by the Fund not taking into account any netting of derivative positions, whereas the commitment calculation converts each financial derivative instrument position into the market value of an equivalent position in the underlying asset of that financial derivative instrument. The leverage is not expected to exceed the levels indicated below but investors should note that there is possibility of higher leverage levels in certain circumstances, e.g. very low market volatility. The expected levels of leverage indicated below reflect the use of all derivative instruments within the portfolio of a given Fund (where applicable). Shareholders should note that the Sum of Notionals calculation method of the expected level of leverage does not make a distinction as to the intended use of a derivative e.g. being either hedging or investment purposes. The Sum of Notionals calculation typically results in a higher leverage figure than for the commitment approach calculation predominantly due to the exclusion of any netting and/or hedging arrangements

131 This may be varied within applicable limits if considered to be in the best interests of the Fund. Fund Expected Level of Leverage (%) based on Sum of Notionals approach Expected Level of Leverage (%) based on Commitment approach Aberdeen Global - Asian Local Currency Short Duration Bond Fund Aberdeen Global - Brazil Bond Fund Aberdeen Global - Emerging Markets Corporate Bond Fund Aberdeen Global - Emerging Markets Local Currency Bond Fund Aberdeen Global - Select Global Credit Bond Fund Upon request of an investor, the Management Company will provide supplementary information relating to the quantitative limits that apply in the risk management of each Fund, to the methods chosen to this end and to the recent evolution of the risks and yields of the main categories of instruments

132 Appendix B Calculation of Net Asset Value (1) NET ASSET VALUE (1) The Net Asset Value of each Class of Shares will be determined on each Dealing Day for the relevant Fund. (2) The Net Asset Value of each Class of Shares (expressed in its currency of denomination) will be determined by aggregating the value of the assets, and deducting the liabilities, of the Fund allocated to such Class. For this purpose the assets of Aberdeen Global shall be deemed to include: (i) (ii) all cash in hand or on, or instructed to be placed on, deposit, including any interest accrued or to be accrued thereon; all bills and demand notes and accounts receivable (including proceeds of securities sold but not yet delivered); (iii) all bonds, time notes, shares, stock, debenture stocks, units/shares in undertakings for collective investment, subscription rights, warrants, options and other investments and securities owned or contracted for by Aberdeen Global; (iv) all stock, stock dividends, cash dividends and cash distributions receivable by Aberdeen Global to the extent information thereon is reasonably available to Aberdeen Global (provided that Aberdeen Global may make adjustments with regard to fluctuations in the market value of securities caused by trading ex-dividend or ex-rights or by similar practices); (v) all interest accrued on any interest-bearing securities owned by Aberdeen Global, except to the extent that such interest is included or reflected in the principal amount of such security; and (vi) all other assets of every kind and nature, including prepaid expenses. Likewise, the liabilities of Aberdeen Global shall be deemed to include: (i) (ii) all loans, bills and accounts payable; all accrued or payable administrative expenses (including management, custodian s and corporate agent s fees and other fees payable to representatives and agents of Aberdeen Global); (iii) all known liabilities, present and future, including all matured contractual obligations for payments of money or property, including the amount of any unpaid dividends declared by Aberdeen Global where the date of the valuation falls subsequent to the record date for determination of the persons entitled thereto; (iv) an appropriate provision for future taxes based on capital and income as at the date of the valuation and any other reserves authorised and approved by the Board of Directors; and (v) all other liabilities of Aberdeen Global of whatever kind and nature, actual or contingent, except liabilities represented by Shares in the relevant Class towards third parties. The value of financial derivative instruments used to manage the currency exposure on the Base Currency Exposure Share Classes will be allocated to the appropriate Base Currency Exposure Share Class. Depending on performance, the value may be either an asset or a liability and will be included in the calculation of Net Asset Value accordingly. For the purposes of valuing its assets, no account shall be taken of monies held by the Global Distributor on behalf of Aberdeen Global for payment of dividends to Shareholders and for the purposes of establishing its liabilities, Aberdeen Global may take into account all administrative and other expenses with a regular or periodical character by calculating them for the entire year or any other period and by dividing the amount concerned proportionately for the relevant fractions of such period. The value of such assets shall be determined as follows: (1) the value of any cash on hand or on deposit, bills and demand notes and accounts receivable, prepaid expenses, cash dividends and interest declared or accrued as aforesaid and not yet received shall be deemed to be the full amount thereof, unless in any case the same is unlikely to be paid or received in full, in which case the value thereof shall be arrived at after making such discount as Aberdeen Global may consider appropriate in such case to reflect the true value thereof; (2) the value of securities and/or financial derivative instruments which are listed on any official stock exchange or traded on any other organised market at the last available stock price. Where such securities or other assets are quoted or dealt in or on more than one stock exchange or other organised markets, the directors shall select the principal of such stock exchanges or markets for such purposes;

133 (3) in the event that any of the securities held in Aberdeen Global s portfolio on the relevant day are not listed on any stock exchange or traded on any organised market or if with respect to securities listed on any stock exchange or traded on any other organised market, the price as determined pursuant to sub-paragraph (2) is not, in the opinion of the Board of Directors, representative of the fair market value of the relevant securities, the value of such securities will be determined prudently and in good faith based on the reasonably foreseeable sales price or any other appropriate valuation principles; (4) the financial derivative instruments which are not listed on any official stock exchange or traded on any other organised market will be valued in a reliable and verifiable manner on a daily basis and verified by a competent professional appointed by Aberdeen Global; (5) units or shares in underlying open-ended investment funds shall normally be valued at their last available net asset value reduced by any applicable charges. In accordance with point (7) below units or shares in underlying open-ended investment funds may be valued at their indicative price (as described below); (6) liquid assets and Money Market Instruments may be valued at market value plus any accrued interest or on an amortised cost basis as determined by the Board of Directors. All other assets, where practice allows, may be valued in the same manner. If the method of valuation on an amortised cost basis is used, the portfolio holding will be reviewed from time to time under the direction of the Board of Directors to determine whether a deviation exists between the Net Asset Value calculated using the market quotation and that calculated on an amortised cost basis. If a deviation exists which may result in a material dilution or other unfair result to investors or existing shareholders, appropriate corrective action will be taken including, if necessary, the calculation of the Net Asset Value by using available market quotations; and (7) in the event that the above mentioned calculation methods are inappropriate or misleading, the Board of Directors may adjust the value of any investment or permit some other method of valuation to be used for the assets of Aberdeen Global if it considers that the circumstances justify that such adjustment or other method of valuation should be adopted to reflect more fairly the value of such investments. (2) INDICATIVE PRICING 9 A Fund can invest in other collective investment schemes which themselves may not price and deal on a daily basis. The administrator of the underlying collective investment scheme may issue indicative prices on a more frequent basis than the official dealing prices for those collective investment schemes. In order to value a Fund, the Administrator may use these indicative prices where they are more up to date than the official dealing price of the underlying collective investment scheme. It should be noted that a Fund cannot subscribe or redeem its holding(s) in the underlying collective investment schemes at an indicative price. Such subscriptions and redemptions can only be traded at the official dealing prices of the underlying collective investment scheme. (3) SHARE PRICES AND DILUTION ADJUSTMENT Subject to any applicable charges, the price of Shares of any Class in any Fund on a particular Dealing Day shall be the Share Price for that Class, being equal to the Net Asset Value of that Class on that day, adjusted when required to reflect any dealing charges (which shall include any commission and/or other costs) and/or any bid/offer spread that the Board of Directors believes are appropriate to take into account in respect of that Class, divided by the number of Shares of that Class then in issue or deemed to be in issue. Such dealing charges will reflect costs and liabilities not included in the calculation of the Net Asset Value of the relevant Class. The dealing charges shall not exceed 1.5% of the Net Asset Value of the relevant Class whilst the bid/offer spread will represent the underlying spread in the securities that the Fund is invested into on the Dealing Day in question. The Share Price may be rounded to up to four decimal places in the currency of denomination. In all cases, transaction values may be rounded to up to the second decimal place in the currency of denomination. The Net Asset Value of Class A, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class I, Class N, Class S, Class U and Class Z Shares and the base currency exposure versions of those Shares in the same Fund may differ as a result of the differing charging structures and policy applicable to each Class. Potential investors should also note that a dilution adjustment may be applied and should refer to the section Dilution Adjustment for further information. 9 This indicative pricing methodology is not generally applied to the Funds which are currently authorised by the SFC. If Aberdeen Global intends to change this policy, Aberdeen Global will seek the SFC s prior approval and provide Shareholders with prior written notification of not less than one month (or such other period as the SFC may require)

134 (4) CALCULATION OF EXCHANGE (OR SWITCHING) PRICES where Shareholders in a Fund are entitled to exchange some or all of their shareholdings into Shares of a different Class in the same or another Fund or Shares of the same Class in another Fund, provided they meet the qualifications for investment in the different Class, by giving notice to the Transfer Agent, in accordance with the requirements and procedure detailed in the section Requests and instructions for the redemption and exchange (or switching) of Shares above. Holders of Class C Shares may only switch into Class C Shares in another Fund which issues these Classes of Share. Investor s attention is specifically drawn to the particular switching arrangements applicable to Aberdeen Global - Brazil Bond Fund, Aberdeen Global - Brazil Equity Fund and Aberdeen Global - Emerging Markets Infrastructure Equity Fund. The basis of the switch is related to the respective Share Prices of the two Funds or Share Classes concerned. The number of Shares into which Shareholders may switch their existing Shares will be calculated by the Transfer Agent on behalf of Aberdeen Global, in accordance with the following formula: A = ((B x C)-D) x E F A is the number of Shares in the new Fund or Share Class to which the Shareholder shall become entitled; B is the number of Shares in the original Fund or Share Class which the Shareholder has requested to be switched; C is the Share Price of a Share in the original Fund or Share Class; D is the switching charge (if any) payable; E when the original Fund or Share Class and the new Fund or Share Class are not designated in the same currency, is the currency exchange rate on the relevant Dealing Day, deemed appropriate by the Investment Manager, used to convert Funds or Share Classes denominated in different base currencies against each other and, in any other case, is 1; and F is the Share Price of a Share in the new Fund or Share Class. Shares rounded to up to four decimal places, if appropriate, will be issued on switching

135 Appendix C General Information 1. Incorporation Aberdeen Global was incorporated as a société anonyme, qualifying as an open-ended société d investissement à capital variable on 25 February 1988 for an unlimited period and commenced operations on 26 April It is registered under Number B at the Register of Commerce and Companies of Luxembourg where its Articles of Incorporation are available for inspection and where copies thereof may be obtained. The name was changed from The Aetna International Umbrella Fund to Aberdeen Global on 1 January Aberdeen Global s Articles of Incorporation were last amended on 14 June Capital The Share capital of Aberdeen Global is represented by fully paid Shares of no par value and is at any time equal to their aggregate Net Asset Value. Any variation of Aberdeen Global s capital may be made by the Board of Directors of Aberdeen Global and has immediate effect. Aberdeen Global s legal minimum capital is the equivalent in US Dollars of the minimum provided for by the Law. 3. Registered Office Aberdeen Global s registered office is 35a, avenue John F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg. The register of Shareholders will be kept at the registered office. 4. Allocation of Assets & Liabilities The Directors reserve the right to add further Funds and in certain circumstances to discontinue existing Funds. Aberdeen Global is a single legal entity. Pursuant to Article 181 of the Law, the assets of a Fund are exclusively available to satisfy the rights of investors in relation to that Fund and the rights of creditors whose claims have arisen in connection with the creation, the operation or the liquidation of that Fund. For the purpose of the relations as between investors, each Fund will be deemed to be a separate entity. 5. Shares (a) Allotment The Directors are authorised without limitation to allot and issue Shares at any time at the relevant Share Price determined in accordance with the Articles of Incorporation and the provisions of this Summary Prospectus and may delegate such authority to the Administrator and/or the Transfer Agent. (b) Voting At General Meetings each Shareholder has the right to one vote for each whole Share held. A holder of Shares relating to any particular Fund or Class will be entitled at any separate General Meeting of the holders of Shares relating to that Fund or Class to one vote for each whole Share relating to that Fund or Class of which he is the holder. The notice of any General Meeting of Shareholders may provide that the quorum and the majority at this General Meeting shall be determined according to the Shares issued and outstanding at a certain date and time preceding the General Meeting (the Record Date ). The right of a Shareholder to participate at a General Meeting of Shareholders and to exercise voting rights attached to his/its/her Shares shall be determined by reference to the Shares held by this Shareholder as at the Record Date. (c) Joint Holders Aberdeen Global will register Shares jointly in the names of not more than four holders should they so require. In such case the rights attaching to such a Share must be exercised jointly by all those parties unless they appoint in writing one person to do so

136 (d) Rights on a Winding-up (i) On a winding-up, assets available for distribution amongst the Shareholders shall be applied first in the payment to the holders of Shares of the relevant Fund and Class of any balance remaining in the relevant portfolio of assets in proportion to the number of Shares of that Class of such Fund, and secondly in the payment to the holders of Shares of any balance then remaining and not comprised in any of the Funds, such balance being apportioned as between the Funds pro rata to the Net Asset Value of each Fund immediately prior to any distribution to Shareholders on a winding-up. Payment of amounts so apportioned will be made to the holders of Shares in the relevant Class of each Fund in proportion to the number of such Shares held either in cash or, upon prior consent of the Shareholder, in kind in accordance with the Articles of Incorporation of Aberdeen Global. Monies to which Shareholders are entitled will, unless claimed prior to the close of the winding-up, be deposited at the Caisse de Consignation in Luxembourg to be held on their behalf. Amounts not claimed from escrow within the relevant prescription period would be liable to be forfeited in accordance with the provisions of Luxembourg law. With the consent of Shareholders expressed in accordance with Luxembourg law, the liquidators may transfer all assets and liabilities of Aberdeen Global to a Luxembourg undertaking for collective investment in transferable securities against the issue to Shareholders of Shares or certificates of such entity proportionate to their shareholdings in Aberdeen Global. (ii) If Aberdeen Global is to be voluntarily liquidated, its liquidation will be carried out in accordance with the provisions of the Law which specifies the steps to be taken to enable Shareholders to participate in the liquidation distribution(s) and in that regard provides for deposit in escrow at the Caisse de Consignation in Luxembourg of any such amounts as have not been claimed by any Shareholders prior to the close of liquidation. Amounts not claimed from escrow within the relevant prescription period would be liable to be forfeited in accordance with the provisions of Luxembourg law. (e) Class Rights and Restrictions (i) Shares will relate to different Funds and are further divided into Class A, Class C, Class D, Class E, Class F, Class G, Class I, Class N, Class - S, Class Z. Class A, Class C, Class D, Class F, Class G, Class I, Class N, Class S and Class Z Shares may also be made available in base currency exposure versions in such currencies as the Board of Directors of Aberdeen Global may determine from time to time. They have no preferential or pre-emption rights and are freely transferable, save as referred to below. (ii) The Shareholders may resolve to redeem all outstanding Shares of any Class or Fund subject to the sanction of a resolution passed at a separate General Meeting of the Shareholders of that Fund or Class by a simple majority of the votes cast. (iii) Termination and Amalgamation of Funds. Termination of a Fund by compulsory redemption of all relevant shares for reason other than those mentioned in 7 (b) below, may be effected only upon its prior approval of the Shareholders of the Fund to be terminated, at a duly convened Fund meeting which may be validly held without a quorum and decided by a simple majority of the votes cast. Any merger of a Fund with another Fund of Aberdeen Global or with another UCITS (whether subject to Luxembourg law or not) shall be decided by the Board of Directors unless the Board of Directors decides to submit the decision for such merger to the meeting of Shareholders of the Fund concerned. In the latter case, no quorum is required for such meeting and the decision for such merger is taken by a simple majority of the votes cast. In case of a merger of a Fund where, as a result, Aberdeen Global ceases to exist, the merger shall, notwithstanding the foregoing, be decided by a meeting of Shareholders resolving in accordance with the quorum and majority requirements for the amendment of the Articles of Incorporation. (iv) Subject to the Articles of Incorporation, the Board of Directors may impose or relax restrictions on any Shares, Class or Fund (other than any restriction on transfer but including the requirement that Shares be issued only in registered form and/or bear such legends as the Directors may feel appropriate but not necessarily on all Shares within the same Fund or Class), or require redemption of Shares, as they may think necessary to ensure that Shares are neither acquired nor held by or on behalf of any person in breach of the law or requirements of any country or governmental or regulatory authority, or which might have adverse taxation or other pecuniary consequences for Aberdeen Global, including a requirement to register under any securities or investment or similar laws or requirements of any country or authority. The Directors may in this connection require a Shareholder to provide such information as they may consider necessary to establish whether he is the beneficial owner of the Shares which he holds. Without limiting the generality of the foregoing, the Directors may impose (and currently have imposed) restrictions on Shares which are to be

137 issued to United States persons including restrictions as to the holding, transfer, and switching of such shares, which will be known as Restricted Shares. Shares which are not Restricted Shares may be required to be redeemed if the Directors have reason to believe that they are held by United States persons. If it shall come to the attention of the Directors at any time that Shares are beneficially owned by a United States person, either alone or in conjunction with any other person, Aberdeen Global shall have the right compulsorily to redeem such Shares. (v) Where a resolution affects more than one Class of Shares or Funds and the resolution is such as to change the respective rights thereof, the resolution must, in order to be valid be approved separately by Shareholders of such Class of Shares or Fund in accordance with the quorum and majority requirements provided for by article 10 of the Articles of Incorporation. (vi) Important information to Canadian-resident investors The Shares of Aberdeen Global will not be publicly offered in Canada. Any offering of Shares in Canada will be made only by way of private placement: (i) pursuant to a Canadian offering memorandum containing certain prescribed disclosure, (ii) on a basis which is exempt from the requirement that Aberdeen Global prepare and file a prospectus with the relevant Canadian securities regulatory authorities pursuant to applicable requirements in the relevant Canadian jurisdictions, and (iii) to persons or entities that are "permitted clients" (as such term is defined in National Instrument Registration Requirements, Exemptions and On-going Registrant Obligations). The Management Company, which acts as the manager of Aberdeen Global as well as its private placement agent in Canada, is not registered in any capacity in any jurisdiction in Canada and may rely on one or more exemptions from various registration requirements in certain Canadian jurisdictions. If a Canadian-resident investor, or an investor that has become a Canadian-resident after purchasing Shares, is required to be a permitted client and does not qualify, or no longer qualifies, as a permitted client, the investor will not be able to purchase any additional Shares and may be required to redeem its outstanding Shares. Two or more Classes of Shares or Funds may be treated as a single Class or Fund if such Classes or Funds would be affected in the same way by the proposals requiring the approval of holders of Shares relating to the separate Classes or Funds 6. Directors The Board shall be composed of at least three persons. Each Director shall be elected by the Shareholders at the Annual General Meeting for a period ending at the next Annual General Meeting and until their successors are elected and qualified. Directors may resign or be removed or replaced or an additional Director appointed at any time by resolution adopted by the Shareholders. There are no age limits or share qualifications for Directors. The Directors are vested with all powers to perform all acts necessary or useful for accomplishing Aberdeen Global s objectives. In particular the Directors have power to appoint any entity to act as management company, custodian or any entity to act as distributor, administrator, investment manager or investment adviser and such other representatives and agents as they may consider necessary. No contract or other transaction between Aberdeen Global and any other company or firm shall be affected or invalidated by the fact that any one or more of the Directors or officers of Aberdeen Global has a material interest in, or is a director, associate, officer or employee of, that other company or firm. Save for any item described in this Summary Prospectus and subject to the preceding paragraph, if any Director or officer of Aberdeen Global has any material interest in any transaction of Aberdeen Global, that Director or officer shall declare such material interest to the Board and shall not be counted in the quorum of any meeting of the Directors to consider or vote on any such transaction and he shall not vote on any such transaction and such transaction and the Director s or officer s interest therein shall be reported to the next succeeding meeting of Shareholders. Directors shall account to Aberdeen Global for any fees resulting from appointments held by them as a result of investments held by Aberdeen Global. Aberdeen Global shall indemnify any Director or officer against expenses reasonably incurred by him in connection with any proceedings to which he may be made a party by reason of such position in Aberdeen Global, except where due to gross negligence or wilful misconduct on his part

138 At no time will a majority of the Directors be resident in the UK nor will Directors resident in the UK form a valid quorum for a Board meeting. 7. Compulsory Redemptions-Dissolution (a) Minimum Valuation of Aberdeen Global (1) If at any time the aggregate of the Net Asset Values of all Shares falls below two-thirds of the minimum capital for the time being prescribed by Law, the Directors must submit the question of dissolution of Aberdeen Global to a General Meeting, acting without minimum quorum requirement and deciding by a simple majority vote of the votes cast at such meeting. (2) If at any time the aggregate Net Asset Values of all Shares is less than one-quarter of the minimum capital for the time being prescribed by Law, the Directors must submit the question of dissolution of Aberdeen Global to a General Meeting, acting without minimum quorum requirement and deciding, by a vote of one-quarter of the votes cast at such meeting. (b) Minimum Valuation of the Funds In the event that for a period of 30 consecutive days, for any reason the Net Asset Value of any Fund is lower than US$10,000,000 or in the case of a Class denominated in a currency other than U.S. Dollars, the equivalent in that currency of such amount, or in case the Board of Directors deems it appropriate because of changes in the economic or political situation affecting Aberdeen Global or the relevant Fund, or because it is in the best interests of the relevant Shareholders, the Board of Directors may redeem all shares of the relevant Fund at a price reflecting the anticipated realisation and liquidation costs on closing of the relevant Fund, but with no redemption charge. 8. Deferral of Redemptions Aberdeen Global may limit the total number of Shares of any Fund which may be redeemed on any Dealing Day to a number representing 10% of the net assets of that Fund. Aberdeen Global will ensure the consistent treatment of all holders who have sought to redeem shares at any Dealing Day at which redemptions are deferred. Aberdeen Global will pro-rata all such redemption requests to the stated level (i.e. 10% of the Fund s value) and will defer the remainder until the next Dealing Day. Aberdeen Global will also ensure that all deals relating to an earlier Dealing Day are completed before those relating to a later Dealing Day are considered. 9. In Specie Subscriptions & Redemptions (1) Shares may, at the discretion of the Board of Directors, be issued in consideration of the vesting in Aberdeen Global of securities acceptable to it and having a value (after deducting any relevant charges and expenses) equal to the relevant Shares. Such securities will be independently valued in accordance with Luxembourg law by a special report of a Luxembourg approved statutory auditor, if required. The specific costs for such subscription in specie, will be borne by the subscriber or by a third party, but will not be borne by Aberdeen Global unless the Board of Directors considers that the subscription in specie is in the interests of Aberdeen Global or made to protect the interests of Aberdeen Global. (2) Redemptions are normally effected in cash. However, Aberdeen Global has power (subject to the consent of the Shareholder) to satisfy redemptions in specie by allocating to the holder investments from the portfolio of the relevant Fund equal in value (calculated in the manner described in Appendix B) to the value of the holding to be redeemed. The Shareholder may elect to have the assets allocated to him for the in-specie redemption sold for cash. The cash issued to the Shareholder would therefore be net of dealing costs. The nature and type of assets to be transferred in such cases will be determined on a fair and reasonable basis and in circumstances which the Directors consider do not prejudice the interests of the other Shareholders in the relevant Fund. This power will be exercised only rarely. However, it may result in the Shareholder receiving investments per Share redeemed which may be worth less or more than the Share Price of each such Share. The specific costs for such redemptions in specie, (such as but not limited to a report, if required, by Aberdeen Global s auditors) will be borne by the redeeming Shareholders or by a third party, but will not be borne by Aberdeen Global unless the Board of Directors considers that the redemption in specie is in the interests of Aberdeen Global or made to protect the interests of Aberdeen Global

139 10. Suspension Suspension of the Calculation of the Net Asset Value and Allotment, Issue, Subscription, Switching and Redemption of Shares Aberdeen Global may suspend the allotment, issue and redemption of Shares relating to a Fund, the right to switch Shares into those of another Fund and the calculation of the Net Asset Value of any Class: (a) during any period when any market or stock exchange on which a material part of the investments of the relevant Fund for the time being is quoted, is closed (otherwise than for ordinary holidays), or during which dealings are substantially restricted or suspended; (b) during the existence of any state of affairs as a result of which disposal or valuation of assets owned by Aberdeen Global attributable to such Fund would be impracticable; (c) during any breakdown in or restriction in the use of the means of communication normally employed to determine the price or value of any of the investments attributable to such Fund or the current prices or values on any stock exchange; (d) during any period when Aberdeen Global is unable to repatriate funds for the purpose of making payments on the redemption of such Shares or during which any transfer of funds involved in the realisation or acquisition of investments or payments due on redemption of such Shares cannot in the opinion of the Directors be effected at normal rates of exchange; (e) (f) (g) during any period when in the opinion of the Directors of Aberdeen Global there exists unusual circumstances where it would be impractical or unfair towards the Shareholders to continue dealing in the Shares of Aberdeen Global or of any Fund or any other circumstance or circumstances where a failure to do so might result in the Shareholders of Aberdeen Global, a Fund or a Class of Shares incurring any liability to taxation or suffering other pecuniary disadvantages or other detriment which the Shareholders of Aberdeen Global, a Fund or a Class of Shares might not otherwise have suffered; if Aberdeen Global, a Fund or a Class of Shares is being or may be wound-up, on or following the date on which such decision is taken by the Board of Directors or notice is given to Shareholders of a general meeting of Shareholders at which a resolution to wind-up Aberdeen Global, a Fund or a Class of Shares is to be proposed; in the case of a merger of Aberdeen Global or a Fund, if the Board of Directors deems this to be necessary and in the best interest of Shareholders; or (h) in the case of a suspension of the calculation of the net asset value of one or several funds in which a Fund has invested a substantial portion of assets. Shareholders who have requested switching or redemption of their Shares will be promptly notified in writing of any such suspension and of the termination thereof. The Board of Directors may also make public such suspension in such manner as it deems appropriate. Details of the beginning and end of any period of suspension (except for customary closing of stock exchanges for not more than three days) will be made available at the registered office of Aberdeen Global and at the office of the Global Distributor. Notice thereof will also be given to any Shareholder lodging a request for switching or redemption of Shares. 11. Transfers Transfers of Shares may normally be effected by delivery to Aberdeen Global of an instrument of transfer in appropriate form. 12. Amendment of the Articles of Incorporation The Articles of Incorporation may be amended at any time by a resolution of a General Meeting of Shareholders subject to the quorum and voting requirements provided by Luxembourg law and by the Articles of Incorporation. Written notice to Shareholders of the effectiveness of each amendment to the Articles of Incorporation shall be provided with the next report following its effectiveness. Such notice shall either state the text of the amendment or summarise its content and provide that the complete text of the amendment will be sent to any Shareholder upon request. To amend the Articles of Incorporation or to dissolve Aberdeen Global a resolution must be passed by the General Meeting with a majority consisting of two thirds of the votes cast at such meeting. In those cases where a General Meeting is to be held to amend the Articles of Incorporation of Aberdeen Global, the following shall apply by way of additional rules for the conduct of business at such meeting:

140 (a) (b) (c) (d) (e) Shareholders may be represented by proxies appointed in writing; votes shall be proportionate to the number of Shares held by the person participating in the vote; the quorum and majorities shall be as laid down by Luxembourg law; if there is a possibility of a conflict of interest between holders of Shares in different Classes or Funds, or the Board of Directors determines that it would be in the best interests of holders of Shares in any particular Class or Fund, separate meetings of the Shareholders relating to each Class or Fund shall be organised at the time of the General Meeting called pursuant to the Articles of Incorporation and no such special amendment of the Articles of Incorporation shall be made if it is not also approved by a resolution of the Shareholders in the affected Class or Fund; and the Transfer Agent, Administrator, Investment Manager and/or the Custodian and their Connected Persons shall not be entitled to vote in respect of any Shares beneficially held by it or them (as the case may be) on any resolution proposed at any meeting of the Shareholders of Aberdeen Global when the Transfer Agent, Administrator, Investment Manager, Custodian or any of their Connected Persons has a material interest in such resolution. In any case where persons are restricted from voting Shares in accordance with the above arrangements they shall not be counted in the quorum of such meeting. 13. Dealings in Shares by the Global Distributor & Payment of Dividends (1) The Global Distributor may as principal acquire and hold Shares and may at their sole discretion satisfy, in whole or in part, an application or request: (a) for the purchase of Shares, by effecting a transfer to the applicant, at the relevant Share Price plus any applicable initial charge, of Shares owned by the Global Distributor; or (b) for the redemption of Shares, by buying such Shares from the Shareholder at the relevant Share Price. (2) The Global Distributor will forthwith notify the Transfer Agent of any such transactions effected by it so as to update the share register and enable the Transfer Agent to send a Share confirmation to the investor. (3) On any date for the payment of dividends Aberdeen Global shall make payment thereof to the relevant Shareholders. To the extent such monies remain unclaimed they shall be held by the Transfer Agent on behalf of the relevant Shareholder, without any liability to account for interest thereon, and shall be forfeited within five years of their due date and revert to the relevant Fund. 14. Other Information (1) Neither the Transfer Agent, Administrator, the Investment Manager, the Custodian nor a Connected Person of any of them may as principal knowingly buy or sell any security from or to Aberdeen Global without the consent of the Directors. (2) Aberdeen Global is subject to the jurisdiction of the courts of Luxembourg and has submitted to the jurisdiction of the courts of Hong Kong for contracts entered into there. (3) Aberdeen Global is not engaged in any litigation or arbitration and no litigation or claim is known to the Directors to be pending or threatened against Aberdeen Global as at the date of this Summary Prospectus. (4) Aberdeen Global has not established, nor does it intend to establish, a place of business in Hong Kong. (5) Aberdeen Global has no employees and no subsidiaries except for the Subsidiary. (6) There are no existing or proposed service contracts between any of the Directors and Aberdeen Global but the Directors may receive remuneration as referred to in this Summary Prospectus. (7) The Articles of Incorporation provide that the following jurisdictions shall be Eligible States; all member states of the European Union and all other countries of Europe, North and South America, Africa, Asia and Australasia. (8) Trading in the Shares of Aberdeen Global on the Luxembourg Stock Exchange will be in accordance with the Rules and Regulations of the Luxembourg Stock Exchange and subject to the payment of normal brokerage fees. (9) From time to time, the Investment Manager, the Investment Advisers or any Connected Persons (collectively the Managers ) may effect transactions by or through the agency of another person with whom the Managers have an arrangement under which that party will from time to time provide to or procure for the Managers goods, services or other benefits (such as research or advisory services, computer hardware associated with specialised software or research services and performance measures) the nature of which is such that their provision can reasonably be expected to benefit Aberdeen Global as a whole and may contribute to an improvement in the performance of Aberdeen Global or of the respective Manager or any of its Connected Person(s) in providing services to Aberdeen Global and for which no direct payment is made but instead the Manager undertakes to place business with that party. For the avoidance of doubt, such goods and services do

141 not include travel, accommodation, entertainment, general administrative goods or services, general office equipment or premises, membership fees, employee salaries or direct money payments. (10) Neither the Investment Manager, any Investment Adviser or any Connected Person may retain the benefit of any cash commission rebate (being repayment of a cash commission made by a broker or dealer to the Investment Manager, Investment Adviser and/or any Connected Person) paid or payable from any such broker or dealer in respect of any business placed with such broker or dealer by the Investment Manager, Investment Adviser or any Connected Person for or on behalf of Aberdeen Global. Any such cash commission rebate received from any such broker or dealer will be held by the Investment Manager, Investment Adviser or any Connected Person for the account of Aberdeen Global

142 Appendix D Share Classes Details of the Share Classes which may be offered in the Funds of Aberdeen Global are detailed below. Share Class Definitions Class A Shares income Shares (Class A-1 Shares) and accumulation Shares (Class A-2 Shares) in the Base Currency of the Fund Class B Shares Class B Shares are closed to new subscription. Class C Shares income Shares (Class C-1 Shares) and accumulation Shares (Class C-2 Shares) in the Base Currency of the Fund. These Classes of Shares are only accessible to investors whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates. Class D Shares income Shares (Class D-1 Shares) and accumulation Shares (Class D-2 Shares) denominated in Sterling. Class E Shares income Shares (Class E-1 Shares) and accumulation Shares (Class E-2 Shares) denominated in Euro. Class F Shares income Shares (Class F-1 Shares) and accumulation Shares (Class F-2 Shares) in the Base Currency of the Fund. Class G Shares income Shares (Class G-1 Shares) and accumulation Shares (Class G-2 Shares) in the Base Currency of the Fund. These Classes of Shares are only accessible to Institutional Investors who are approved by the Global Distributor and whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates which specifically references the G Share Class and has an effective date on or after the launch of such class. Class H Shares income Shares (Class H-1 Shares) and accumulation Shares (Class H-2 Shares) denominated in Euro. These Classes of Shares are only accessible to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. Class I Shares income Shares (Class I-1 Shares) and accumulation Shares (Class I-2 Shares) in the Base Currency of the Fund. These Classes of Shares are only accessible to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. Class N Shares income Shares (Class N-1 Shares) and accumulation Shares (Class N-2 Shares) denominated in Japanese Yen. These Classes of Shares are only accessible to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates, and may only be acquired by fund of funds type undertakings for collective investment in the form of unit trusts or corporate type funds, which are distributed primarily in Japan. Class S Shares - income Shares (Class S-1 Shares) and accumulation Shares (Class S-2 Shares) in the Base Currency of the Fund. These Classes of Shares are only accessible to investors whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates. Class U Shares income Shares (Class U-1 Shares) and accumulation Shares (Class U-2 Shares) denominated in US Dollars. Class Z Shares income Shares (Class Z-1 Shares) and accumulation Shares (Class Z-2 Shares) in the Base Currency of the Fund. These Classes of Shares are only accessible to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. Class A, Class C, Class D, Class F, Class G, Class I, Class N, Class S and Class Z Shares may also be made available in base currency exposure versions in such currencies as the Board of Directors of Aberdeen Global may determine from time to time. These Base Currency Exposure Share Classes will have the same characteristics as the underlying Class of Shares. Fund Share Classes in Issue For up to date details of the Share Classes in issue for each Fund, please refer to

143 Appendix E - Sales Charges and Investment Manager s Fees Initial Charges The current initial charge applied for investment into Class A, Class D, Class E, Class S and Class U Shares ranges from 4.25% to 5%. This charge is purely indicative and is subject to an increase of up to the maximum initial charge provided for in this Summary Prospectus. An initial sales charge of 6.38% is currently levied by the Board of Directors on all investments in Class F and Class G Shares, although the Board of Directors reserves the right, at its discretion, to direct the Global Distributor to apply or remove a waiver of such initial sales charge from time to time and for a particular period of time and/or for particular individuals or groups of investors. The initial sales charge levied in respect of Class F and Class G Shares shall be collected for the benefit of the relevant Fund of Aberdeen Global. An initial charge of up to 6.38% may also be applied for investment into Class H and Class I Shares. A mandatory initial charge of up to 6.38 % of the Net Asset Value may be levied by the Board of Directors on all investments in Class A, Class C, Class D, Class E, Class H, Class I, Class S, Class U and Class Z Shares, in addition to (subject to the maximum provided above), or in place of, any initial charge (including part thereof) already levied and paid to the Global Distributor. An initial charge applied could therefore be partially payable to the Global Distributor and partially payable to the relevant sub-fund, but at no time will the aggregate of a charge levied by the Global Distributor and a mandatory charge applied by the Board of Directors exceed 6.38%. Such initial sales charge shall be collected for the benefit of the relevant Fund of Aberdeen Global and shall not be payable to the Global Distributor or rebated to any persons by way of a commission or discount. Currently, no initial charge is charged for investment into Class N Shares. Class B Shares are closed to new subscriptions. The base currency exposure versions of Class A, Class C, Class D, Class F, Class G, Class I, Class N, Class S and Class Z Shares have the same initial charge as the underlying Class of Share (if any). Investors should refer to for up to date information on the actual initial sales charge applicable at any time. Contingent Deferred Sales Charge A contingent deferred sales charge only applies in respect of Class C Shares. Class C Shares A contingent deferred sales charge of 1.00% of the Share Price of the Shares being redeemed is imposed on Class C Shares and the base currency exposure versions thereof, if the Shareholder redeems their Shares within one year of purchase. The contingent deferred sales charge will be calculated as a percentage of the lesser of the relevant Share Price of the Shares on the date of redemption or the date of issue, exclusive of reinvestments. In determining whether a contingent deferred sales charge is applicable to the proceeds of a redemption, the calculation will be made in the manner which results in the lowest possible charge. Thus, it will be assumed that the Class C Shares (or the base currency exposure versions thereof ) first being redeemed are those Shares held by the Shareholder which are not subject to a contingent deferred sales charge then, after that, those which have been held by the Shareholder for the longest period of time

144 Distributor s Fees Class C Shares Investors should note that in the case of Class C Shares and the base currency exposure versions of thereof, a distributor fee of 1.00% per annum of the Net Asset Value of the relevant Class is payable by Aberdeen Global to the Global Distributor for providing distribution services (i.e. co-ordinating sales and marketing activities). This fee is accrued daily and paid monthly in arrears. The Global Distributor reserves the right, at its discretion, to reallocate the Global Distributor s Fees, in whole or in part to certain recognized financial intermediaries or institutions. Investment Manager s Fees (% of Net Asset Value) Fund Name Class A 1, Class B 2, Class C 3, Class D, Class E, Class F and Class U Shares Class H, Class G 7, Class I 4 and Class N Shares 4, 5 Class S Shares 3 Class Z Shares 6 Aberdeen Global - Asia Pacific Equity Fund Aberdeen Global - Asian Local Currency Short Duration Bond Fund Aberdeen Global - Asian Property Share Fund Aberdeen Global - Asian Smaller Companies Fund Aberdeen Global - Australasian Equity Fund Aberdeen Global - Brazil Bond Fund Aberdeen Global - Brazil Equity Fund Aberdeen Global - Chinese Equity Fund Aberdeen Global - European Equity Dividend Fund Aberdeen Global - Eastern European Equity Fund Aberdeen Global - Emerging Markets Corporate Bond Fund Aberdeen Global - Emerging Markets Equity Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund Aberdeen Global - Emerging Markets Local Currency Bond Fund Aberdeen Global - Emerging Markets Smaller Companies Fund Aberdeen Global - European Equity Fund Aberdeen Global - European Equity (Ex UK) Fund Aberdeen Global - Indian Equity Fund Aberdeen Global - Japanese Equity Fund Aberdeen Global - Japanese Smaller Companies Fund Aberdeen Global - Latin American Equity Fund Aberdeen Global - North American Equity Fund Aberdeen Global - North American Smaller Companies Fund

145 Fund Name Class A 1, Class B 2, Class C 3, Class D, Class E, Class F and Class U Shares Class H, Class G 7, Class I 4 and Class N 4, 5 Shares Class S 3 Shares Class Z 6 Shares Aberdeen Global - Responsible World Equity Fund Aberdeen Global - Russian Equity Fund Aberdeen Global - Select Euro High Yield Bond Fund Aberdeen Global - Select Emerging Markets Bond Fund Aberdeen Global - Select Global Credit Bond Fund Aberdeen Global - Select High Yield Bond Fund Aberdeen Global - Technology Equity Fund Aberdeen Global - UK Equity Fund Aberdeen Global - World Equity Fund Aberdeen Global - World Resources Equity Fund Aberdeen Global - World Smaller Companies Fund Note: 1. The base currency exposure versions of Class A, Class D and Class F Shares will bear the same management charge as the underlying Class A, Class D or Class F Share for the relevant Fund. 2. Class B Shares are closed to new subscriptions. 3. Class C and Class S Shares are only accessible to investors whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates. The base currency exposure versions of Class C and Class S Shares will bear the same management charge as the underlying Class C or Class S Share for the relevant Fund. 4. Class H, Class I Shares and Class N Shares are only accessible to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates (and additionally Class N Shares may only be acquired by fund of funds type undertakings for collective investment in the form of unit trusts or corporate type funds, which are distributed primarily in Japan). The base currency exposure versions of Class I and Class N Shares will bear the same management charge as the underlying Share Class for the relevant Fund. 5. The management charge for Class N Shares of Aberdeen Global Emerging Markets Infrastructure Equity Fund is 0.52% instead of 1.00%. The management charge for Class N Shares of Aberdeen Global - Brazil Bond Fund is 0.50% instead of 1.00%. The management charge for Class N Shares of Aberdeen Global - Brazil Equity Fund is 0.65% instead of 1.00%. All other Class N Shares have the same management charge as Class I Share of the relevant Fund. 6. Class Z Shares are only accessible to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. The base currency exposure versions of Class Z Shares will bear the same management charge as the underlying Class Z Share for the relevant Fund. 7. Class G Shares are only accessible to Institutional Investors who are approved by the Global Distributor and whose investment is covered by a suitable agreement with the Investment Manager or one of its Associates which specifically references the G Share Class and has an effective date on or after the launch of such class. The base currency exposure versions of Class G Shares will bear the same management charge as the underlying Class G Share for the relevant Fund

146 Appendix F Investment through the Subsidiary 1. Investment by the Subsidiary Aberdeen Global Indian Equity Limited (the Subsidiary ), is the wholly-owned subsidiary company of Aberdeen Global. The Subsidiary will make investments into Indian securities in accordance with the investment objective, policies and restrictions of the Aberdeen Global - Indian Equity Fund set out in this Prospectus. Aberdeen Global Indian Equity Fund will advance monies to the Subsidiary principally by means of subscription for shares, but may also enter into loans, debt instruments and convertible debt instruments of all kinds to the extent permitted by the Regulations. The Subsidiary was incorporated in Mauritius on 13 September 1996 as private company limited by shares now under the Companies Act The Subsidiary has been granted approval by the Securities and Exchange Board of India ( SEBI ) to invest in India under an FII licence. The Custodian holds the assets and shares of the Subsidiary. The Subsidiary will be centrally managed and controlled from Singapore. The Investment Adviser of the Aberdeen Global Indian Equity Fund and the control and management of Subsidiary are located in Singapore, a jurisdiction which has a developed infrastructure to support such vehicles encompassing the full range of administration and custody services in a time zone which is closer to that of India. The place of management and control of the Subsidiary along with the location of the Investment Adviser will be aligned in Singapore. This is likely to benefit the Subsidiary from a risk and control perspective, and will allow the Subsidiary to benefit from large pool of resources that are already available in Singapore. If it is no longer commercially beneficial to invest through the Subsidiary, Aberdeen Global Indian Equity Fund may elect to invest directly in India or through another suitable vehicle in any jurisdiction. 2. Subsidiary The operations of the Subsidiary will be carried on under the supervision and direction of the board of directors of the Subsidiary which will also be responsible for the monitoring of the Subsidiary s investments and performance. The Subsidiary intends to conduct its affairs in a manner such that it is regarded as a tax resident of Singapore. In view that the investment function of the Subsidiary is undertaken by Aberdeen Asset Management Asia Limited, a Singapore fund management company, the Subsidiary may be construed to be carrying on activities of a trade or business in Singapore. In such an event, the income and gains derived by the Subsidiary from its investments may be considered income accruing in, or derived from, Singapore and be subject to Singapore income tax, unless the income and gains are exempted from tax pursuant to the Enhanced-Tier Fund Tax Incentive Scheme or otherwise exempted under the Singapore Income Tax Act. The Subsidiary intends to apply to the Monetary Authority of Singapore to seek approval as an approved person for purposes of Section 13X of the Income Tax Act (Chapter 134 of Singapore). With the approval, the Subsidiary will be eligible for the Enhanced-Tier Fund Tax Incentive Scheme and, subject to meeting the conditions under that scheme, it will be exempt from Singapore income tax on specified income that it derives in respect of designated investments. Designated investments includes stocks and shares of any company, other than a company that is in the business of trading or holding of Singapore immovable properties (other than the business of property development) and is not listed on a stock exchange in Singapore or elsewhere, whereas specified income means, with effect from 17 February 2012, all income and gains from designated investments unless specifically excluded. As Singapore tax resident the Subsidiary would be entitled to avail of the treaty benefits under the India- Singapore tax treaty as described below. Provisions of the India-Singapore tax treaty A Singapore resident company will be entitled to the beneficial provisions of taxation of capital gains on disposal of Indian securities subject to satisfaction of conditions prescribed under Article 3 of the Protocol to the India-Singapore tax treaty. Article 3 of the Protocol to the India Singapore tax treaty inter-alia provides that a "shell or conduit" company shall not be entitled to the benefits of the capital gains tax exemption provisions under the India-Singapore tax treaty. A Singapore resident company is deemed to be a shell/ conduit company unless: (a) (b) it is a company listed on a recognized stock exchange; or it is a company with total annual expenditure on operations in Singapore equal to or more than S$200,000 in

147 24 months immediately preceding the date the gains arise. The term "annual expenditure" is defined to mean expenditure incurred during a period of 12 months. Further, the period of 24 months shall be calculated by referring to two blocks of 12 months immediately preceding the date when the gains arise. It is the intent of the Aberdeen Global India Equity Fund that the Subsidiary will be tax resident in Singapore and will satisfy the provisions of Article 3 of the Protocol to the India-Singapore tax treaty referred to in (b) above. On the basis that the Subsidiary meets the conditions of Article 3 of the Protocol, then: (a) (b) (c) (d) Pursuant to the provisions of the India-Singapore tax treaty, any capital gains earned by the Subsidiary on disposal of Indian securities should not be liable to tax in India. However, where the Subsidiary transfers any Indian securities without satisfaction of the Article 3 of the Protocol of the India-Singapore tax treaty, it is likely that the gains, if any, arising from such transfer, would be subject to tax in India as per the provision of the India Income Tax Act. Dividend income earned by the Subsidiary from investments in securities in Indian capital markets should be exempt from Indian tax in the hands of the Subsidiary as per the provisions of the Indian Income Tax Act. Indian-sourced interest income earned and beneficially owned by the Subsidiary would be subject to tax in India at the rate of 15% on a gross basis. Any other "business income" earned by the Subsidiary should only be subject to tax in India to the extent that it is attributable to a permanent establishment in India. In the event that the Subsidiary has a permanent establishment in India, any income attributable to such permanent establishment will be taxed in India at the rate of 43.26% on a net income basis (i.e. after reducing all deductible expenditure). The Subsidiary is expected to operate in a manner that should not cause it to be treated as having a permanent establishment in India. However, there can be no assurance that this position will be respected by the Indian tax authorities. There can be no assurance that any future changes to the India-Singapore tax treaty or future interpretations of the India-Singapore tax treaty will not adversely affect the tax position of the Subsidiary's investments in India. Further, the benefits of exemption from tax in India on capital gains earned on the sale of shares of Indian companies by the Subsidiary under the India-Singapore tax treaty are linked to that of the India-Mauritius Tax Agreement and, as such, there can be no assurance that the India-Mauritius Tax Agreement will not be changed, amended, terminated or renegotiated during the term of the Subsidiary. Should the treaty not be applied, interest and capital gains earned by the Subsidiary would be subject to tax as per the domestic tax laws of India applicable to Foreign Portfolio Investors (FPIs). Accordingly, where the treaty is not applied the income of the Subsidiary would be subject to tax in India at a rate ranging from 0% to 30%, depending on the nature of income and the period for which the securities have been held. 3. Directors of Subsidiary The board of directors of the Subsidiary will comprise at least two locally resident Singapore directors and one locally resident Mauritius director (the latter in order to comply with Mauritian company law requirements). Two directors who are present in Singapore will be required for a quorum of the Subsidiary. The directors of Aberdeen Global form the majority on the board of the Subsidiary. Accordingly, Directors of the Subsidiary are as follows:- Hugh Young (British, Singapore resident). * Ian Macdonald (British, Singapore resident). * Mr Yashin Foolah (Mauritian) * see in the section Board of Directors of Aberdeen Global for details holds an Advanced Diploma in Accounting and Business. He is also a member of the International Fiscal Association and the Mauritius Institute of Directors. Mr Foolah has more than seven years of professional experience in the global business sector including 4 years of experience in a management role. He joined the Cim Group in 2015 involved in the Fund Services Team of Cim Global Business as a Manager and has under his responsibility several teams handling a wide portfolio of clients and providing a full range of services. He also acts as director on the board of several client companies of Cim Global Business

148 Appendix G Additional Information for Investors This Appendix provides additional information on Aberdeen Global in the following jurisdictions: France Korea South Africa Taiwan Please note that registrations are subject to change, please contact the Management Company for up-to-date information

149 1. Additional Information on Aberdeen Global in France Plan d'epargne Actions (PEA) The following Funds are eligible for the Plan d'epargne Actions (PEA): Aberdeen Global - European Equity Dividend Fund Aberdeen Global - European Equity Fund Aberdeen Global - European Equity (ex UK) Fund

150 2. Additional Information on Aberdeen Global in Korea In Korea, certain Classes of Shares of the following Funds have been approved by the Financial Supervisory Service, for offering or distribution in Korea: Aberdeen Global - Asia Pacific Equity Fund Aberdeen Global - Asian Local Currency Short Duration Bond Fund Aberdeen Global - Asian Property Share Fund Aberdeen Global - Asian Smaller Companies Fund Aberdeen Global - Australasian Equity Fund Aberdeen Global - Brazil Bond Fund Aberdeen Global - Brazil Equity Fund Aberdeen Global - Chinese Equity Fund Aberdeen Global - Eastern European Equity Fund Aberdeen Global - Emerging Markets Corporate Bond Fund Aberdeen Global - Emerging Markets Equity Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund Aberdeen Global - Emerging Markets Local Currency Bond Fund Aberdeen Global - Emerging Markets Smaller Companies Aberdeen Global - European Equity Dividend Fund Aberdeen Global - European Equity Fund Aberdeen Global - Indian Equity Fund Aberdeen Global - Japanese Equity Fund Aberdeen Global - Japanese Smaller Companies Fund Aberdeen Global - Latin American Equity Fund Aberdeen Global - North American Equity Fund Aberdeen Global - North American Smaller Companies Fund Aberdeen Global - Responsible World Equity Fund Aberdeen Global - Russian Equity Fund Aberdeen Global - Select Emerging Markets Bond Fund Aberdeen Global - Select Euro High Yield Bond Fund Aberdeen Global - Select Global Credit Bond Fund Aberdeen Global - Technology Equity Fund Aberdeen Global - World Equity Fund Aberdeen Global - World Resources Equity Fund Aberdeen Global - World Smaller Companies Fund

151 3. Additional Information on Aberdeen Global in South Africa In South Africa, certain Classes of Shares of the following Funds have been approved by the Financial Services Board, for offering or distribution: Aberdeen Global - Emerging Markets Equity Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund Aberdeen Global - Emerging Markets Smaller Companies Fund Aberdeen Global - European Equity Fund Aberdeen Global - Japanese Equity Fund Aberdeen Global - Latin American Equity Fund Aberdeen Global - North American Equity Fund Aberdeen Global - North American Smaller Companies Fund Aberdeen Global - Technology Equity Fund Aberdeen Global - World Equity Fund Aberdeen Global - World Resources Equity Fund Aberdeen Global - World Smaller Companies Fund

152 4. Additional Information on Aberdeen Global in Taiwan In Taiwan, certain Classes of Shares of the following Funds have been approved by the Financial Supervisory Commission, for offering or distribution: Aberdeen Global - Asia Pacific Equity Fund Aberdeen Global - Asian Property Share Fund Aberdeen Global - Asian Smaller Companies Fund Aberdeen Global - Australasian Equity Fund Aberdeen Global - Chinese Equity Fund Aberdeen Global - Eastern European Equity Fund Aberdeen Global - Emerging Markets Corporate Bond Fund Aberdeen Global - Emerging Markets Equity Fund Aberdeen Global - Emerging Markets Infrastructure Equity Fund Aberdeen Global - Emerging Markets Local Currency Bond Fund Aberdeen Global - Emerging Markets Smaller Companies Fund Aberdeen Global - European Equity Dividend Fund Aberdeen Global - European Equity Fund Aberdeen Global - Indian Equity Fund Aberdeen Global - Japanese Equity Fund Aberdeen Global Japanese Smaller Companies Aberdeen Global - Latin American Equity Fund Aberdeen Global - North American Equity Fund Aberdeen Global - Responsible World Equity Fund Aberdeen Global - Select Emerging Markets Bond Fund Aberdeen Global - Select Euro High Yield Bond Fund Aberdeen Global - Technology Equity Fund Aberdeen Global - UK Equity Fund Aberdeen Global - World Equity Fund Aberdeen Global - World Resources Equity Fund

153 安本環球 Aberdeen Global 招股說明書摘要 2016年4月

154 此乃重要文件, 務須閣下即時垂注 閣下如有任何疑問閣下如有任何疑問, 請尋求專業意見 親愛的股東 : 安本環球基金 閣下的董事會已決定對安本環球基金作出更改 主要建議更改詳情載於本函件 安本環球基金的香港銷售文件 ( 香港銷售文件 ) 亦將作出相應更新 除非文義另有規定, 否則本函件所用字詞應與香港銷售文件的最新版本所賦與者具相同涵義 對現有子基金作出作出的變更 1. 更換安本環球 澳洲股票基金的投資顧問 由 2016 年 10 月 7 日起,Aberdeen Asset Management Limited 將取代 Aberdeen Asset Management Asia Limited 作為安本環球 澳洲股票基金的投資顧問 Aberdeen Asset Management Limited 由澳洲證券及投資監察委員會 (Australian Securities and Investments Commission) 授權並受其規管 子基金的投資目標及政策將維持不變, 上述變更將不會對子基金的現有投資組合及投資策略或風險狀況構成任何影響 上述變更將不會導致子基金的營運及 / 或子基金的管理方式有任何變更 香港銷售文件中所述的適用於安本環球基金及其子基金的費用及支出的最高及現有水平 ( 包括有效的營運 行政及服務開支 ) 將不會因上文所述變更而變更 如受上述變更影響的股東認為上述變更不再符合其投資要求, 股東可要求在免繳任何適用贖回及 / 或認購費用的情況下, 在 2016 年 10 月 6 日的下午五時正 ( 香港時間 ) 前贖回或轉換其股份 行政變更 香港銷售文件亦將就真實資料以及若干澄清 ( 包括但不限於以下各項 ) 作出更新 與安本環球基金董事會有關的資料將予更新, 以反映董事會組成的近期變更 其將作出澄清, 下列子基金可直接或間接將不多於其資產淨值的 10% 投資於中國內地證券 ( 包括透過 QFII RQFII 滬港股票市場交易互聯互通機制 參與票據 與股票掛鉤的票據及任何其他合資格方式作出投資 ).. 安本環球 亞太股票基金安本環球 亞洲地產股票基金安本環球 亞洲小型公司基金 Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

155 安本環球 中國股票基金安本環球 新興市場股票基金安本環球 新興市場基建股票基金安本環球 新興市場當地貨幣債券基金安本環球 新興市場小型公司基金 香港銷售文件中的香港額外國家特定限制將作出相應更新 一般風險因素將就有關投資於中國的風險因素作出更新, 特別是包含與滬港股票市場交易互聯互通機制有關的風險 香港銷售文件將就安本環球 東歐股票基金的管理費用作出更新 ( 一如較早前知會股東般 ), 該管理費用將於 2016 年 7 月 1 日起調減 香港銷售文件將予更新, 以計入下列對相關國家特定詳情作出的更新.. a. 安本環球 北美小型公司基金的若干股份類別已獲金融監督管理委員會認可, 可在台灣發售或分銷 因此, 與台灣有關的額外國家特定投資限制應適用於安本環球 北美小型公司基金 b. 安本環球 澳洲股票基金的若干股份類別已被韓國的南韓金融監督院撤銷註冊 因此, 與韓國有關的額外國家特定投資限制則不再適用於安本環球 澳洲股票基金 c. 安本環球 東歐股票基金已合資格參與法國股票儲蓄計劃 (French Plan d'epargne Actions (PEA)) 因此, 與法國有關的額外國家特定投資限制應適用於安本環球 東歐股票基金 香港銷售文件 本函件詳載的變更將在適當時候在安本環球基金的新香港銷售文件中反映 閣下的董事會對本函件所載資料的準確性承擔責任 董事會盡其所知及所信 ( 已採取合理審慎措施確保情況如此 ), 本函件所載資料與事實相符, 並無遺漏可能影響該等資料的重要性的任何內容 閣下如有任何疑問或如欲索取任何進一步資料, 請聯絡我們的註冊辦事處 如屬香港股東, 請聯絡安本國際基金管理有限公司, 其辦事處位於香港干諾道中 8 號遮打大廈 1601 及 室, 電話 : 閣下的董事會相信上述變更為公平及合理變更, 並為股東的最佳利益而作出 代表安本環球基金董事會謹啟 2016 年 9 月 6 日 2

156 此乃重要文件, 務須閣下即時垂注 閣下如有任何疑問閣下如有任何疑問, 請尋求專業意見 致安本環球 - 新興市場當地貨幣債券基金股東的通知 親愛的股東.. 茲向閣下作為安本環球 - 新興市場當地貨幣債券基金 ( 本基金本基金 ) 的股東發出通知, 知會股東有關安本環球基金 ( 本公司本公司 ) 董事會 ( 董事會董事會 ) 已決定於 2016 年 9 月 23 日 ( 星期五 ) 下午 11 時 59 分 ( 盧森堡時間 )( 生效日期生效日期 ) 以透過兼併的方式將 Aberdeen Global II( 一家設於盧森堡的獨立資本可變傘子投資公司, 並為一家 UCITS) 的子基金 Aberdeen Global II Emerging Europe Bond Fund( 合併基金合併基金 ) 與本基金合併 ( 合併合併 ) 的事宜 Aberdeen Global II Emerging Europe Bond Fund 及 Aberdeen Global II 並未獲證券及期貨事務監察委員會認可, 並不可供香港投資者認購 合併將根據 2010 年 12 月 17 日有關集體投資企業的盧森堡法律 ( 經修訂 ) 的第 1(20) a) 條的條文及第 8 章進行 1 參與合併的合併基金股東將接獲本基金以下新類別的股份, 以與其股份作交換.. E-2 類股份 (ISIN: LU ) 1) 合併的背景及理由 合併為合理化改革安本管理定息基金系列的一部份, 合併旨在提高管理及銷售產品的效率 其包括將具類似投資策略的基金合併 安本透過按投資策略 基金規模 規模經濟及成本效益定期審視現有的產品系列, 以求優化其產品系列 合併旨在統一受管理資產, 並令產品更具商業利益 2) 對本基金的影響 1 1 合併基金的投資組合將會在合併前重新調整 目前, 合併基金的投資組合之重新調整 1 合併基金並未獲證券及期貨事務監察委員會認可, 並不可供香港投資者認購 Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

157 過程擬將於合併前一週開始 其投資組合的重大部份將減為現金, 並將轉讓予本基金, 以作為合併的一部份 本基金的投資組合將無需在合併前或合併後重新調整 在進行合併後, 本基金將繼續按其現行投資目標及政策受到管理 此外, 由於已就本基金實施收入平衡政策, 故將不會因合併而攤薄任何累算至現有股東的收入 因此, 董事會概不預期會因合併而對本基金的投資組合或表現構成任何重大影響 3) 對交易及估值時間的影響 為促進合併並將可能因合併而出現的運作錯誤風險減至最低, 董事會根據本公司組織章程第 21 條, 及在諮詢本基金的保管人 BNP Paribas Securities Services, Luxembourg branch 後, 決定於生效日期 2016 年 9 月 23 日 ( 星期五 ) 暫停計算資產淨值, 以及暫停本基金的股份交易 在暫停期間, 本基金將繼續接納贖回要求, 該等要求將會在恢復交易後即時處理 股東應注意, 任何在 2016 年 9 月 22 日 ( 星期四 ) 下午五時正 ( 香港時間 ) 後接獲的本基金股份的認購 贖回或轉換申請將於 2016 年 9 月 26 日 ( 星期一 ) 定價 董事會相信, 有關暫停符合本基金股東的最佳利益 本函件的附錄載有將受暫停交易影響的本基金股份類別名單 4) 開支及成本 1 安本將支付合併基金的投資組合之重新調整成本 實施合併的所有其他成本 ( 包括法律 會計及其他行政開支 ) 亦將由安本支付 5) 下一步行動 如閣下欲透過本基金繼續投資於安本環球基金, 閣下毋須採取任何進一步行動 本基金的股東有權在 2016 年 9 月 22 日 ( 星期四 ) 下午五時正 ( 香港時間 ) 前免費贖回其股份 股東可自本公司的註冊辦事處免費取得與合併有關的核數師報告的副本, 以及本公司及 Aberdeen Global II 之間議定的一般合併條款 董事會對本函件所載資料的準確性承擔責任 董事會盡其所知及所信 ( 已採取合理審慎措施確保情況如此 ), 本函件所載資料與事實相符, 並無遺漏可能影響該等資料的重要性的任何內容 2

158 閣下如有任何疑問或如欲索取任何進一步資料, 請聯絡我們的註冊辦事處 如屬香港股東, 請聯絡安本國際基金管理有限公司, 其辦事處位於香港干諾道中 8 號遮打大廈 1601 及 室, 電話 : 代表安本環球基金董事會 ( 代表安本環球 - 新興市場當地貨幣債券基金 ) 謹啓 2016 年 8 月 18 日 3

159 附錄受暫停交易影響的本基金股份類別名單 股份類別名稱 ISIN SEDOL 安本環球 - 新興市場當地貨幣債券基金 A-1 類 LU B3K89Q3 安本環球 - 新興市場當地貨幣債券基金 A-2 類 LU B3K89R4 安本環球 - 新興市場當地貨幣債券基金 A-2 類 ( 歐 LU B4SYZG2 元 ) 安本環球 - 新興市場當地貨幣債券基金 I-2 類 LU B3K8B01 4

160 此乃重要文件, 務須閣下即時垂注 閣下如有任何疑問閣下如有任何疑問, 請尋求專業意見 致安本環球 - 歐元高收益債券基金股東的通知 親愛的股東.. 茲向閣下作為安本環球 - 歐元高收益債券基金 ( 本基金本基金 ) 的股東發出通知, 知會股東有關安本環球基金 ( 本公司本公司 ) 董事會 ( 董事會董事會 ) 已決定於 2016 年 9 月 23 日 ( 星期五 ) 下午 11 時 59 分 ( 盧森堡時間 )( 生效日期生效日期 ) 以透過兼併的方式將下列兩項基金與本基金合併 ( 分別為 合併合併 ) 的事宜 - 本公司的獨立子基金 安本環球 - 高收益債券基金 ( 安本環球 - 高收益債券基金 ); 及 - Aberdeen Global II 的子基金 Aberdeen Global II Euro High Yield Bond Fund ( AG II EHYBF, 連同安本環球 - 高收益債券基金合稱為 合併基金合併基金 ); Aberdeen Global II 與本公司一樣是一家設於盧森堡的資本可變傘子投資公司, 並為一家 UCITS Aberdeen Global II Euro High Yield Bond Fund 及 Aberdeen Global II 並未獲證券及期貨事務監察委員會認可, 並不可供香港投資者認購 各合併將根據 2010 年 12 月 17 日有關集體投資企業的盧森堡法律 ( 經修訂 ) 的第 1(20) a) 條的條文及第 8 章進行 參與合併的安本環球 - 高收益債券基金股東將接獲本基金以下類別的股份, 以與其股份作交換.. D-1 類股份 (ISIN: LU ) 參與合併的 AG II EHYBF 1 股東將接獲本基金以下類別的股份, 以與其股份作交換.. A-2 類股份 (ISIN: LU ) 及 I-2 類股份 (ISIN: LU ) 1 AG II EHYBF 並未獲證券及期貨事務監察委員會認可, 並不可供香港投資者認購 Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

161 1) 合併的背景及理由 各合併為合理化改革安本管理定息基金系列的一部份, 合併旨在提高管理及銷售產品的效率 其包括將具類似投資策略的基金合併 安本透過按投資策略 基金規模 規模經濟及成本效益定期審視現有的產品系列, 以求優化其產品系列 各合併旨在統一受管理資產, 並令產品更具商業利益 2) 對本基金的影響 在進行合併後, 本基金將繼續按其現行投資目標及政策受到管理 本基金的投資組合將無需在合併前或合併後重新調整 此外, 由於已就本基金實施收入平衡政策, 故將不會因合併而攤薄任何累算至現有股東的收入 因此, 董事會概不預期會因合併而對本基金的投資組合或表現構成任何重大影響 3) 對交易及估值時間的影響 為促進合併並將可能因合併而出現的運作錯誤風險減至最低, 董事會根據本公司組織章程第 21 條, 及在諮詢本基金的保管人 BNP Paribas Securities Services, Luxembourg branch 後, 決定於生效日期 2016 年 9 月 23 日 ( 星期五 ) 暫停計算資產淨值, 以及暫停本基金的股份交易 在暫停期間, 本基金將繼續接納贖回要求, 該等要求將會在恢復交易後即時處理 股東應注意, 任何在 2016 年 9 月 22 日 ( 星期四 ) 下午五時正 ( 香港時間 ) 後接獲的本基金股份的認購 贖回或轉換申請將於 2016 年 9 月 26 日 ( 星期一 ) 定價 董事會相信, 有關暫停符合本基金股東的最佳利益 本函件的附錄載有將受暫停交易影響的本基金股份類別名單 4) 開支及成本 任何產生的投資組合調整成本將會由相關合併基金承擔 實施合併的所有其他成本 ( 包括法律 會計及其他行政開支 ) 將由安本支付 5) 下一步行動 如閣下欲透過本基金繼續投資於安本環球基金, 閣下毋須採取任何進一步行動 本基金的股東有權在 2016 年 9 月 22 日 ( 星期四 ) 下午五時正 ( 香港時間 ) 前免費贖回其股份 股東可自本公司的註冊辦事處免費取得與合併有關的核數師報告的副本, 以及本公司及 Aberdeen Global II 之間議定的一般合併條款 2

162 董事會對本函件所載資料的準確性承擔責任 董事會盡其所知及所信 ( 已採取合理審慎措施確保情況如此 ), 本函件所載資料與事實相符, 並無遺漏可能影響該等資料的重要性的任何內容 閣下如有任何疑問或如欲索取任何進一步資料, 請聯絡我們的註冊辦事處 如屬香港股東, 請聯絡安本國際基金管理有限公司, 其辦事處位於香港干諾道中 8 號遮打大廈 1601 及 室, 電話 : 代表安本環球基金董事會 ( 代表安本環球 - 歐元高收益債券基金 ) 謹啓 2016 年 8 月 18 日 3

163 附錄 受暫停交易影響的本基金股份類別名單 股份類別名稱 ISIN SEDOL 安本環球 - 歐元高收益債券基金 A-1 類 ( 美元 ) LU B7YH9Z3 安本環球 - 歐元高收益債券基金 I-1 類 ( 美元 ) LU BK00N00 安本環球 - 歐元高收益債券基金 A-1 類 LU 安本環球 - 歐元高收益債券基金 A-2 類 LU 安本環球 - 歐元高收益債券基金 D-1 類 LU B0L1034 安本環球 - 歐元高收益債券基金 A-2 類 ( 美元 ) LU B27Z3Q8 安本環球 - 歐元高收益債券基金 A-1 類 ( 英鎊 ) LU B4SYZM8 安本環球 - 歐元高收益債券基金 A-2 類 ( 英鎊 ) LU B4SYZN9 安本環球 - 歐元高收益債券基金 D-2 類 ( 英鎊 ) LU B3QN995 4

164 此乃重要文件, 務須閣下即時垂注 閣下如有任何疑問閣下如有任何疑問, 請尋求專業意見 親愛的股東 : 致安本環球 高收益債券基金股東的通知 茲向閣下作為安本環球 高收益債券基金 ( 合併基金合併基金 ) 的股東發出通知, 知會閣下董事會已決定於 2016 年 9 月 23 日 ( 星期五 ) 下午 11 時 59 分 ( 盧森堡時間 )( 生效日期 ), 將合併基金合併至同一安本環球基金傘子投資公司的子基金 安本環球 歐元高收益債券基金 ( 接管方基金接管方基金 ) 合併基金的資產與負債將於生效日期 1 轉移至接管方基金 上述合併( 合併合併 ) 的詳情連同有關閣下應採取的行動以及對閣下作為股東的影響之詳情均載於本文件 董事會已決定在合併符合股東的最佳利益之基礎上根據安本環球基金的組織章程第 20 條, 以及根據有關集體投資企業的二 一 年十二月十七日法例 ( 經修訂 )( 2010 年法例 ) 的第 1 (20) a) 條的條文及第 8 章將合併基金與接管方基金合併 由本通知日期起, 合併基金不再獲准向香港公眾推廣, 並不再接納任何新投資者的認購 合併基金將在合併後盡快清盤 在此文件中, 除非文義另有要求, 否則所用字詞應與附錄 1 的詞彙所載者具相同涵意 實施合併過程的主要日期時間表載於附錄 3 合併的理由 2 合併基金的規模約為 4800 萬歐元 合併基金為一項規模相對小的基金, 故與規模較大的基金相比, 較難以有效方式管理 董事會並不相信合併基金對尋求長期收益及資本增值的投資者而言將仍屬可行之選 3 接管方基金的策略與合併基金的策略相當相似 接管方基金的規模約為 9.13 億歐元, 並被積極推廣為安本系列中的頭號歐洲高收益產品 接管方基金的規模及廣泛的投資者基礎代表其一般可以較合併基金更有效率的方式管理 合併為合理化改革安本定息基金系列的一部份, 改革的實施旨在提高管理及銷售產品的效率 其包括將具類似投資策略的基金合併 1 合併基金以基本貨幣 ( 英鎊 ) 計值的的資產與負債價值將按 2016 年 9 月 22 日 ( 星期四 ) 下午 1 時 01 分 ( 盧森堡時間 ) 的現行匯率兌換為接管方基金的基本貨幣 ( 歐元 ) 2 截至 2016 年 6 月 3 日的數字 3 截至 2016 年 6 月 3 日的數字 Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax:

165 吾等相信, 實施合併符合股東的最佳利益, 最終將會隨著時間因合理化改革效率而令股東受惠 合併基金及接管方基金接管方基金之間的比較 合併基金及接管方基金之間的主要相似及差異之處 合併基金及接管方基金的投資目標及政策相當相似, 兩者均旨在透過投資於由企業或政府相關組織發行的具有次級投資評級的定息證券提供收益及資本增值 然而, 合併基金及接管方基金之間在貨幣風險方面存在一項值得注意的差異 在合併基金的資產以未對沖為主, 而接管方基金的資產則以歐元計值或以歐元對沖 就 D 類股東而言, 常年管理費用 ( AMC ) 將會較低 合併基金的 D 類股份的現有 AMC 為 1.35%, 而將向 D 類股東發行的接管方基金之 D 類股份的 AMC 則為 1.25% 較低的 AMC 將會帶來較低的經常性開支 ( 見附錄 2) 此外, 謹請注意, 合併基金會以季度形式支付可得收益, 而接管方基金則會以每月形式支付收益 概不會因合併而對接管方基金的投資目標及費用架構作出任何變更 風險狀況 合成風險回報指標 (Synthetic Risk Reward Indicator; SRRI ) 展示投資基金就其潛在風險及回報的排名 數值越高, 潛在回報越大, 但同時虧損金錢的風險亦會越大 合併基金的 SRRI 為 4, 而接管方基金則有較高的 SRRI 數值為 5 該等數值乃基於過往數據釐定, 而兩項基金之間的數值差異乃由於接管方基金的年化波動性較高 在合併後, 合併基金的股東將投資於具較高的 SRRI 數值為 5 之基金 ( 即接管方基金 ) 波動性較高的潛在後果為導致一個較高的風險及回報狀況 在贖回投資者於具較高 SRRI 的基金內的投資之任何一個特定時間, 該基金的投資者可能會有較高收益或較高虧損 接管方基金的風險狀況及 SRRI 將不會因合併而變更 然而,SRRI 會隨著時間變更, 且其可能並非投資基金日後風險狀況的可靠指標 強調合併基金及接管方基金之間的主要相似及差異之處的表格載列於附錄 2 合併的預期影響 概不預期股東的權利在合併生效前後將有任何重大差異 兩項基金的投資組合均由安本的相同投資管理團隊管理, 因此, 股東可以對管理及投資程序的持續性抱有信心 2

166 最後分派 如在截至 2016 年 9 月 22 日 ( 星期四 ) 止期間, 合併基金股份有可供分派收益, 該可供分派收益將轉移至合併基金的分派賬戶中 任何有關累算收益的分派支付日期將為 2016 年 11 月 22 日 ( 星期二 ) 合併條款 在生效日期, 並未贖回其於合併基金內的股份之股東 ( 見下文的下一步行動 ) 將會成為接管方基金的股東, 並將接獲接管方基金的相應新股份 ( 該等新股份與股東現時持有的股份類別 ( 即 D-1( 收益 ) 類 ) 相同 ( 見下文載述 )), 以將合併基金的資產與負債轉移至接管方基金 合併基金的股份將被視為已被取消, 並將不再具有任何價值 合併基金及接管方基金的投資組合將無需在合併前或合併後調整或重新調整 根據合併將發行予股東的新股份類別如下.. 股份類別 合併基金 ISIN 代碼 新股份類別 接管方基金 ISIN 代碼 D-1( 收益 ) 類 LU D-1( 收益 ) 類 LU 新股份將根據以下公式發行予各投資於合併基金的股東.. N = (S x P) / R 當中.. N = 將發行予有關股東的新股份數目 S = 有關股東緊接在生效日期前持有的相應類別股份數目 P = 有關股東為合併持有之相應類別的每股價格 R = 接管方基金相關類別之每新股價格 將予發行的各新股份價格應為根據接管方基金價值決定的價格 所有已發行的新股份將為收入平衡目的而被編為第 2 組別股份 (Group 2 Shares) 將發行予各股東的新股份數目將 ( 如有需要 ) 會向上調整至最接近分數 ( 三個小數位 ), 有關開支將由管理公司承擔 發行接管方基金的新股份之部份代價可被視為收入平衡 成本 合併基金及接管方基金並無任何未攤銷的初步開支 實施合併的所有成本 ( 包括法律 顧問及行政開支 ) 以及合併基金在合併後的清盤成本預計約為 45,000 英鎊, 並將由安本支付 3

167 稅務影響 只要安本環球基金不在香港從事經營證券或商品的貿易或業務, 安本環球基金便不需交付任何香港稅款 安本環球基金並無意進行此等貿易或交易業務或在香港設立一個業務的場所 股東就安本環球基金的股息分派或將安本環球基金任何股份銷售 轉換 贖回或以其他方式出售而獲得的資本收益均無需交付任何香港稅款, 除非安本環球基金股份的收購和變現在香港構成一項買賣 專業或業務, 在該情況下, 有關股東所得的收益可能須繳交香港的利得稅 安本環球基金股份的發行和轉讓均無需繳交任何香港印花稅 謹請注意, 合併可能會可能會在閣下的稅務居住國家在閣下的稅務居住國家產生產生一項應課稅事件一項應課稅事件 閣下的稅務狀況亦可能在閣下的在閣下的國籍國籍 居住居住地 戶籍或註冊成立所在國家的稅務法律下戶籍或註冊成立所在國家的稅務法律下因合併而變因合併而變更, 吾等強烈建議閣下向閣下的財務顧問尋求意見, 以確保閣下將成為股東的股東的接管方基金與閣下的要求及狀況相符 下一步行動 如合併合併與閣下的要求閣下的要求相符, 閣下無需採取任何行動 如閣下並未以載述於下文的方式贖回閣下的股份, 閣下將於 2016 年 9 月 23 日 ( 星期五 ) 下午 11 時 59 分 ( 盧森堡時間 ) 自動成為接管方基金的股東, 並將在其後短期內接獲安本的確認書, 詳列閣下的新股份持股 新股份的交易將於 2016 年 9 月 26 日 ( 星期一 )( 即生效日期後下一個營業日 ) 上午 9 時 ( 盧森堡時間 ) 開始 如合併與閣下的要求不符, 閣下有權在 2016 年 9 月 22 日 ( 星期四 ) 下午 5 時 ( 香港時間 ) 前免費贖回閣下於合併基金的股份, 或免費將該等股份轉換為安本環球基金的另一項證監會認可子基金 在該情況下, 閣下應注意, 贖回或轉換將被視為就稅務目的出售股份, 閣下可能須就贖回或轉換股份所產生的任何收益股份所產生的任何收益繳納稅項繳納稅項 額外資料 閣下可以書面方式向 Aberdeen Global Services S.A.( 地址為 35a avenue John F. Kennedy, L Luxembourg, Grand Duchy of Luxembourg) 免費索取核數師報告的副本 一般合併條款的副本以及存管公司就合併作出的相關確認陳述的副本 安本環球基金的招股說明書摘要及組織章程, 以及接管方基金的產品資料概要於任何平日 ( 星期六 星期日及公眾假期除外 ) 的一般營業時間內在安本國際基金管理有限公司 Aberdeen International Fund Managers Limited 的辦事處 ( 地址為香港干諾道中 8 號遮打大廈 1601 及 室 ) 可供查閱 閣下的董事會對本函件所載資料的準確性承擔責任 董事會盡其所知及所信 ( 已採取合理審慎措施確保情況如此 ), 本函件所載資料與事實相符, 並無遺漏可能影響該等資料的重要性的任何內容 4

168 閣下如有任何疑問或如欲索取任何進一步資料, 請聯絡我們的註冊辦事處 如屬香港股東, 請聯絡安本國際基金管理有限公司, 其辦事處位於香港干諾道中 8 號遮打大廈 1601 及 室, 電話 : 代表安本環球基金董事會 ( 代表安本環球 - 高收益債券基金 ) 謹啓 2016 年 8 月 18 日 5

169 附錄 1 詞彙 2010 年法例安本 Aberdeen SICAV 有關集體投資企業的二 一 年十二月十七日盧森堡法例 ( 經修訂 ); Aberdeen Asset Management PLC 集團旗下之公司 ; 安本環球基金, 一家設於盧森堡並成立為一家股份有限公司 (société anonyme) 的資本可變投資公司 ( société d investissement à capital variable); 類別基金的任何股份類別 ; 生效日期基金第 2 組別股份管理公司合併基金合併基金價值 合併的生效日期 ( 預期為 2016 年 9 月 23 日 ( 星期五 ) 下午 11 時 59 分 ( 盧森堡時間 )) 或 Aberdeen SICAV 及存管公司在該等其他時間及 / 或日期前可能協定的該等其他時間及 / 或日期 ; 合併基金及接管方基金, 基金 應按文理指其中一項基金 ; 就分派期間而言, 在該分派期間購買的股份, 該等股份會在該分派期間結束時於營業結束時持有 ; Aberdeen Global Services S.A. Aberdeen SICAV 的受委管理公司 ; 安本環球 高收益債券基金 Aberdeen SICAV 的子基金 ; 合併基金的資產淨值, 有關資產淨值乃根據 Aberdeen SICAV 的組織章程, 於截至 2016 年 9 月 22 日 ( 星期四 ) 下午 1 時 01 分 ( 盧森堡時間 ) 前計算, 並減去 ( 如適用 ) 任何就截至 2016 年 9 月 22 日 ( 星期四 ) 下午 1 時 ( 盧森堡時間 ) 止的期間將分派予合併基金的股份股東的任何收益計算 ; 6

170 合併 合併基金與接管方基金於生效日期的合併 ; 新股份將根據合併發行的接管方基金之適當類別股份 ; 接管方基金安本環球 歐元高收益債券基金 Aberdeen SICAV 的子基金 ; 接管方基金價值股份存管公司 接管方基金的財產價值, 有關價值乃根據 Aberdeen SICAV 的組織章程, 於截至 2016 年 9 月 22 日 ( 星期四 ) 下午 1 時 01 分 ( 盧森堡時間 ) 按計劃財產於 2016 年 9 月 22 日 ( 星期四 ) 下午 1 時 01 分 ( 盧森堡時間 ) 的估值計算 ; 基金的任何類別的任何股份 ; 及 Aberdeen SICAV( 其合併基金及接管方基金均為子基金 ) 的存管公司現時為 BNP Paribas Securities Services, Luxembourg branch 7

171 附錄 2 合併基金及接管方基金接管方基金的主要特性比較 特性 合併基金 接管方基金 基金安本環球 高收益債券基金安本環球 歐元高收益債券基金 基金類別 UCITS UCITS 公司安本環球安本環球 管理公司 Aberdeen Global Services S.A. Aberdeen Global Services S.A. 投資顧問 Aberdeen Asset Managers Limited Aberdeen Asset Managers Limited 存管公司 保管人 BNP Paribas Securities Services, Luxembourg Branch BNP Paribas Securities Services, Luxembourg Branch 基本貨幣英鎊歐元 交易每日每日 交易日 該項基金股份暫停買賣期間以外的任何營業日, 或買賣相關基金之投資組合的重大部份所在的任何交易所或市場關門的日子 ( 按董事會酌情釐定 ) 以外的營業日 BNP Paribas Securities Services, Luxembourg Branch BNP Paribas Securities Services, Luxembourg branch 該項基金股份暫停買賣期間以外的任何營業日, 或買賣相關基金之投資組合的重大部份所在的任何交易所或市場關門的日子 ( 按董事會酌情釐定 ) 以外的營業日 投資目標及政策投資於其他集體投資計劃合資格證券及衍生工具市場政府及公共證券 該項基金的投資目標是通過將該項基金至少三分之二的資產, 投資於由企業及政府相關組織發行的具有次級投資評級的定息證券, 以獲得長期總回報 該項基金的投資目標是通過將該項基金至少三分之二的資產, 投資於由企業及政府相關組織發行的具有次級投資評級的歐元定息證券, 以獲得長期總回報 限制於本基金淨資產的 10% 限制於本基金淨資產的 10% 任何歐盟成員國或東歐及西歐 亞洲 非洲 澳洲 北美洲 南美洲及大洋洲的任何其他國家的證券交易所或受規管市場 本基金淨資產的最多 100% 可投資於招股說明書摘要載列的若干發行人的任何一家發行或保證的政 任何歐盟成員國或東歐及西歐 亞洲 非洲 澳洲 北美洲 南美洲及大洋洲的任何其他國家的證券交易所或受規管市場 本基金淨資產的最多 100% 可投資於招股說明書摘要載列的若干發行人的任何一家發行或保證的政府及 8

172 特性 合併基金 接管方基金 特定風險因素 衍生工具 府及公共證券, 惟本基金必須持有最少六次發行的證券, 且一次發行的證券不得佔本基金淨資產超過 30% 基金的相關投資涉及利率風險及信貸風險 利率波動影響投資的資本值 倘長期利率上升, 債券的資本值可能下跌, 反之亦然 信貸風險反映債券發行人履行其責任的能力 倘債券市場只有少量買家及 / 或大量賣家, 其可能較難按預期價格及 / 或及時出售特定債券 基金的投資組合或會對次級投資評級債券及 / 或高收益債券有重大持倉, 換言之, 相比投資於投資評級債券的基金, 會使投資者承受較大的資本及收益風險 基金可投資於或有可轉換債券 如債券發行人的財務實力跌至預定下限, 則該債券可能會蒙受重大或全部資本虧損 ( 投資者應參閲招股說明書摘要中 一般風險因素 一節中的風險因素 或有證券, 以了解有關與或有可轉換債券相關的其他風險 ) 基金將僅為對沖及 / 或管理外匯風險而投資於金融衍生工具 風險管理方法承擔取向承擔取向 合成風險回報指標 (Synthetic Risk Reward Indicator; SRRI) 股份類別及相關的常年管理費用 (AMC) D-1 類股份.. 4 D-1 類股份.. 5 公共證券, 惟本基金必須持有最少六次發行的證券, 且一次發行的證券不得佔本基金淨資產超過 30% 基金的相關投資涉及利率風險及信貸風險 利率波動影響投資的資本值 倘長期利率上升, 債券的資本值可能下跌, 反之亦然 信貸風險反映債券發行人履行其責任的能力 倘債券市場只有少量買家及 / 或大量賣家, 其可能較難按預期價格及 / 或及時出售特定債券 基金將面對單一貨幣的重大風險, 增加其潛在波動性 基金投資於特定地區市場, 會增加潛在波動性 基金的投資組合或會對次級投資評級債券及 / 或高收益債券有重大持倉, 換言之, 相比投資於投資評級債券的基金, 會使投資者承受較大的資本及收益風險 基金可投資於或有可轉換債券 如債券發行人的財務實力跌至預定下限, 則該債券可能會蒙受重大或全部資本虧損 ( 投資者應參閲招股說明書摘要中 一般風險因素 一節中的風險因素 或有證券, 以了解有關與或有可轉換債券相關的其他風險 ) 基金將僅為對沖及 / 或管理外匯風險而投資於金融衍生工具 D-1 類股份 % D-1 類股份 % 9

173 特性 合併基金 接管方基金 經常性開支機制及經常性開支比率 若干經常性營運 行政及服務開支 ( 營運 行政及服務開支 ) 被訂為低於本基金各股份類別的適用最高費率, 有關詳情載於招股說明書摘要 若干經常性營運 行政及服務開支 ( 營運 行政及服務開支 ) 被訂為低於本基金各股份類別的適用最高費率, 有關詳情載於招股說明書摘要 D-1 類股份 % D-1 類股份 % 首次投資最低款額 最低其後購買 經常性開支比率是根據截至 2015 年 9 月 30 日的年度費用計算 D-1 類股份.. 1,500 美元 * 或在各情況下的等值貨幣 D-1 類股份.. 1,500 美元 * 或在各情況下的等值貨幣 經常性開支比率是根據截至 2015 年 9 月 30 日的年度費用計算 D-1 類股份.. 1,500 美元 * 或在各情況下的等值貨幣 D-1 類股份.. 1,500 美元 * 或在各情況下的等值貨幣 最低部份贖回所有股份類別..不設最低額所有股份類別..不設最低額 財務報表的日期 12 月 31 日 6 月 30 日 12 月 31 日 6 月 30 日 基金規模 4800 萬歐元 9.13 億歐元 遞延贖回 * 截至 2016 年 6 月 3 日的數值 安本環球基金可限制在任何交易日可贖回的股份數目為該基金淨資產的 10% * 截至 2016 年 6 月 3 日的數值 安本環球基金可限制在任何交易日可贖回的股份數目為該基金淨資產的 10% 定價以遠期方式採用的單一價格以遠期方式採用的單一價格 估值點下午 1 時 ( 盧森堡時間 ) 下午 1 時 ( 盧森堡時間 ) 投資者概者概況 會計收益期間結束日期 基金投資於高收益固定收益證券, 並可能適合願意接納其債券投資組合內高水平風險的投資者 由於非投資級別債券涉及高風險, 故投資者可能會使用基金作為補足現有主要債券投資組合的一部份, 並或須具備最少五年的投資目光 年度 9 月 30 日 中期 12 月 31 日 3 月 31 日 6 月 30 日 基金投資於歐元計值的高收益證券, 並可能適合願意接納其定息投資內的高水平風險的投資者 由於非投資級別債券涉及高風險, 故投資者可能會使用基金作為補足現有主要債券投資組合, 並或須具備最少五年的投資目光 每月的最後一個曆日 10

174 特性 合併基金 接管方基金 收益支付日期 在各會計收益期間結束日期的兩個月內 在各會計收益期間結束日期的一個月內 * 新股份的首個收益支付日期將為 2016 年 10 月 31 日 11

175 附錄 3 合併時間表 行動 2016 年的日期 供發函予股東的名冊摘錄日期 8 月 8 日 ( 星期一 ) 向股東發送文件 8 月 18 日 ( 星期四 ) 接納合併基金交易的截止時間 合併基金為進行交易之最後估值點 9 月 22 日 ( 星期四 ) 下午 1 時 ( 盧森堡時間 ) 9 月 22 日 ( 星期四 ) 下午 1 時 ( 盧森堡時間 ) 合併基金暫停交易緊接在 9 月 22 日 ( 星期四 ) 下午 1 時 ( 盧森堡時間 ) 後 合併基金的最終分派的除淨日 合併基金為進行合併之估值點 將合併基金的資產與負債價值兌換為接管方基金的基本貨幣 9 月 22 日 ( 星期四 ) 下午 1 時 01 分 ( 盧森堡時間 ) 9 月 22 日 ( 星期四 ) 下午 1 時 01 分 ( 盧森堡時間 ) 9 月 22 日 ( 星期四 ) 下午 1 時 01 分 ( 盧森堡時間 ) 合併的生效日期 9 月 23 日 ( 星期五 ) 下午 11 時 59 分 ( 盧森堡時間 ) 開放新股份交易 接管方基金的年度會計期間 ( 生效日期後的首個年度會計期間 ) 的結束日期 9 月 26 日 ( 星期一 ) 上午 9 時 ( 盧森堡時間 ) 9 月 30 日 ( 星期五 ) 向股東發送的接管方基金持股結單 10 月 3 日 ( 星期一 ) 接管方基金的股息支付日期 ( 生效日期後的首個支付日期 ) 10 月 31 日 ( 星期一 ) 合併基金的最終分派支付日期 11 月 22 日 ( 星期二 ) 謹請注意, 如 Aberdeen SICAV 及存管公司同意生效日期應在 2016 年 9 月 23 日 ( 星期五 ) 之後, 則該等時間及日期可能會有所該等時間及日期可能會有所改變 如有任何日期與如有任何日期與上述上述時間表所時間表所載的不同, 股東將接獲相應通知相應通知 12

176 此乃重要文件, 務須閣下即時垂注 閣下如有任何疑問閣下如有任何疑問, 請尋求專業意見 親愛的股東 : 安本環球 東歐股票基金 茲致函通知閣下有關對安本環球 東歐股票基金作出的下列變更, 有關變更將由 2016 年 7 月 1 日起生效 本文所用字詞應與日期為 2016 年 4 月的香港招股說明書摘要 ( 招股說明書摘要招股說明書摘要 )( 可能經不時修訂及補充 ) 所用者具相同涵義 調低費用 就安本環球 東歐股票基金的某些股份類別而言, 其投資經理費用或常年管理費用 ( 常年管理費用 ) 及繼而其經常性開支 ( 經常性開支比率 ) 的水平將調低如下.. 股份類別 ISIN 截至 2016 年 6 月 30 日的先前常年管理費用 ( 資產淨值的百分比 ) 截至 2016 年 6 月 30 日的先前經常性開支比率 ( 資產淨值的百分比 ) 自 2016 年 7 月 1 自 2016 年 7 月 1 日日起的有效常年起的有效有效經常性開管理費用 ( 資產支比率 ( 資產淨值淨值的百分比 ) 的百分比 ) A - 2 LU % 2.24% 1.50% 1.99% I - 2 LU % 1.45% 0.75% 1.20% 安本環球 東歐股票基金的新招股說明書摘要及產品資料概要將在適當時候予以更新, 以反映本函件詳述的變更 管理公司對本函件所載資料的準確性承擔責任 管理公司盡其所知及所信 ( 已採取合理審慎措施確保情況如此 ), 本函件所載資料與事實相符, 並無遺漏可能影響該等資料的重要性的任何內容 閣下如有任何疑問或如欲索取任何進一步資料, 請聯絡我們的註冊辦事處 如屬香港股東, 請聯絡安本國際基金管理有限公司, 其辦事處位於香港干諾道中 8 號遮打大廈 1601 及 室, 電話 : 代表 Aberdeen Global Services S.A. 謹啟 2016 年 6 月 30 日 Aberdeen International Fund Managers Limited Suite 1601 Chater House, 8 Connaught Road Central, Hong Kong Telephone: Fax: