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1 Aberdeen Global Funds Summary Prospectus March 2007

2 ABERDEEN GLOBAL Registered Office: 49, Avenue J. F. Kennedy L-1855 Luxembourg, Grand Duchy of Luxembourg (Registre de Commerce No B 27471) SUMMARY PROSPECTUS IMPORTANT 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. The Directors of Aberdeen Global are responsible for the information contained in this document. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure such is the case) the information contained in this document is in accordance with the facts and does not omit anything likely to affect the import of such information. The Directors accept responsibility accordingly. Aberdeen Global is incorporated as a société anonyme under the laws of the Grand Duchy of Luxembourg on 25 February 1988 for an unlimited period and qualifies as an open-ended société d investissement à capital variable (a SICAV ) with UCITS status (an Undertaking for Collective Investment in Transferable Securities as defined in the European Union Directive 85/611 of 20 December 1985, as amended). Aberdeen Global is authorised as an undertaking for collective investment in transferable securities under Part I of the law dated 20 December 2002 on undertakings for collective investment, as amended (the Law of 2002 ). Aberdeen Global is what is known as a UCITS III fund. There are twenty six Funds in total, as described in more detail on pages 2 to 8. The Shares relating to each Fund are issued in four main Classes, Class A, Class D, Class I, and Class Z, as described more fully on pages 13 to 14 and Appendix D. Class A, Class I and Class Z Shares may also be made available in Euro, Sterling or US Dollar hedged versions. Where a hedged Share Class is available, it will be expressed as Class A( ), Class A( ) and Class A ($) etc. Aberdeen Global has no present intention to offer any hedged Share Class to the public in Hong Kong and shareholders will be notified of any change in such intention in future. Class A, Class D, Class I and Class Z Shares of each Fund are offered at a price based on their Net Asset Value plus, if applicable, an initial charge. The hedged versions of Class A and Class I Shares will similarly be offered at a price based on their Net Asset Value plus, if applicable, an initial charge. Class Z Shares and the hedged versions of Class Z Shares of all the Funds will bear no initial charges or annual management fees. Class B Shares were issued until 28 February Existing Class B shareholders may retain their existing shareholding but will not be able to purchase any further new Class B Shares although they will be able to switch to Class B Shares in other Funds which historically issued Class B Shares. The Class B Shares of each Fund that remain in issue bear an annual distribution fee and are normally subject to a contingent deferred charge if redeemed within four years of issue. Class A, Class D, Class I, Class Z and the hedged versions of Class A, Class I and Class Z Shares of all the Funds are listed on the Luxembourg Stock Exchange. Aberdeen Global has been authorised under the Securities and Futures Ordinance; the Securities and Futures Commission does not, however, take any responsibility for the financial soundness of Aberdeen Global or the accuracy of any statement or opinion expressed in this document and does not imply that investment in Aberdeen Global is recommended by the Securities and Futures Commission. Date: March 2007 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; 1

3 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 on page 23; INVESTMENT OBJECTIVES AND POLICIES 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 their individual 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. The following applies to all Funds, 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 Equity Funds, namely Aberdeen Global - American Opportunities Fund, Aberdeen Global Asia Pacific Fund, Aberdeen Global Asia Pacific and Japan Fund, Aberdeen Global Asian Smaller Companies Fund, Aberdeen Global Australasian Equity Fund, Aberdeen Global China Opportunities Fund, Aberdeen Global Emerging Markets Fund, Aberdeen Global Emerging Markets Smaller Companies Fund, Aberdeen Global Ethical Engagement World Equity Fund, Aberdeen Global European Equity Fund, Aberdeen Global European Opportunities (Ex UK) Fund, Aberdeen Global India Opportunities Fund, Aberdeen Global Japanese Equity Fund, Aberdeen Global Japan Smaller Companies Fund, Aberdeen Global Technology Fund, Aberdeen Global UK Opportunities Fund, Aberdeen Global World Equity Fund and Aberdeen Global Worldwide Smaller Companies 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 non-eligible States and/or in markets which are not Regulated Markets shall in aggregate not exceed 10% of the Net Assets of any of these Funds. For the Bond Funds, namely the Aberdeen Global Asia Pacific and Australasian Bond Fund, the Aberdeen Global European High Yield Bond Fund, Aberdeen Global Fixed Interest Opportunities Fund, Aberdeen Global High Yield Bond Fund, Aberdeen Global Sterling Corporate Bond Fund, Aberdeen Global Sterling Financials Bond Fund, Aberdeen Global Sovereign High Yield Bond Fund (to be renamed Aberdeen Global Emerging Markets Bond Fund with effect from 30 March 2007) and Aberdeen Global World Bond Fund, no more than 10% of their Net Asset Value may be invested in equities or equity related securities. Distinct investment objectives have been established for each Fund, which, together with their currencies of denomination, are as follows: Aberdeen Global American Opportunities Fund The Fund s investment objective is long-term capital growth primarily through investment in the equities and equity-related securities of companies registered in the United States of America, or in companies which derive a significant proportion of their revenues or profits from American operations or have a significant proportion of their assets there. The base currency of the Fund is US Dollars. Aberdeen Global Asia Pacific Fund The Fund s investment objective is to pursue long term total return primarily through investment in equities and equity-related securities of corporations which are registered in Asia-Pacific countries (excluding Japan), or companies which derive a significant proportion of their revenues or profits from Asia-Pacific countries (excluding Japan), or have a significant proportion of their assets there. The base currency of the Fund is US Dollars. Aberdeen Global Asian Smaller Companies Fund The Fund s investment objective is to maximise the long-term total return to shareholders. The Fund will achieve its objective primarily through investment in a portfolio of equities and equity related securities of companies whose market capitalisation is under US$1 billion at the time of investment and which are listed on Asia Pacific exchanges (excluding Japan), or which are listed on other exchanges (including those in the United Kingdom and America) and derive a significant proportion of their revenues or profits from, or have a significant proportion of their assets in, Asia Pacific countries (excluding Japan). The Fund may invest up to 2

4 75% of its Net Assets in such equities and equity related securities listed on, or deriving an important proportion of their earnings from trade with or operations in, emerging Asia Pacific markets. The equity related securities in which the Fund has the ability to invest shall include the securities of Asia Pacific companies which are listed as Global Depository Receipts and American Depository Receipts, convertible bonds and warrants. Although up to 10% of the Net Assets of the Fund may be invested in warrants, it is not currently anticipated that the Fund will invest in warrants. All of the securities referred to above will be listed on Eligible Markets except as otherwise permitted by the investment restrictions. The base currency of the Fund is US Dollars. Aberdeen Global Asia Pacific and Australasian Bond Fund The Fund s investment objective is to maximise long-term total return by investing primarily in bonds issued by corporations, multilateral development banks, governments or government-related bodies that are domiciled in, or operate primarily from the Asia Pacific region including Japan and Australasia. The Fund may also invest in other transferable securities issued by corporations or government-related bodies that are domiciled in, or operate primarily from the Asia Pacific region including Japan and Australasia. 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 base currency of the Fund is US Dollars. Aberdeen Global Asia Pacific and Japan Fund The Fund's investment objective is to achieve capital growth by investing in equities and equity related securities of corporations which are registered in the Asia Pacific region, including Japan, or companies which derive a significant proportion of their revenues or profits from Asia Pacific countries including Japan, or have a significant portion of their assets there. The base currency of the Fund is US Dollars. Aberdeen Global Australasian Equity Fund The Fund s investment objective is long term capital growth primarily through investment in equities and equity-related securities of corporations registered in Australia or New Zealand, or companies that derive a significant proportion of their revenues or profits from Australia and New Zealand or have a significant portion of their assets there. The base currency of the Fund is Australian Dollars. Aberdeen Global China Opportunities Fund The Fund s investment objective is to aim for capital growth by investing in companies which are domiciled in China or either invest in, or trade with, China. The Fund will invest mainly in companies which invest in or trade with China or are domiciled in China. As the stock markets in China develop the Fund will increasingly invest directly in companies which are domiciled in China, but always within the investment limits set out in the investment restrictions. At present the Fund is restricted to investing no more than 60% of its assets in the Shanghai and Shenzhen stock markets. Distributable income will not be a consideration when investments are made. The base currency of the Fund is US Dollars. With effect from 30 March 2007, the investment objective of this Fund will be amended as follows: The Fund s investment objective is to aim for capital growth by investing in companies which are domiciled in China or either invest in, or trade with, China. The Fund will invest mainly in companies which invest in or trade with China or are domiciled in China. As the stock markets in China develop the Fund will increasingly invest directly in companies which are domiciled in China, but always within the investment limits set out in the investment restrictions. Distributable income will not be a consideration when investments are made. The base currency of the Fund is US Dollars. Aberdeen Global Emerging Markets Fund The Fund s investment objective is to provide long-term capital growth from direct or indirect investment in emerging stock markets worldwide or companies with significant activities in emerging markets. The base currency of the Fund is US Dollars. Aberdeen Global Emerging Markets Smaller Companies Fund The Fund's investment objective is to provide long-term capital growth from direct or indirect investment in a diversified portfolio of which at least two-thirds will be invested in equities and equity-related securities of smaller companies listed on emerging stock markets worldwide or smaller companies with significant activities in emerging markets. The Investment Manager shall determine what constitutes a "smaller company" from time to time. The base currency of the Fund is US Dollars. 3

5 Aberdeen Global Ethical Engagement World Equity Fund The Fund s investment objective is to seek long term growth by investing in equities and equity-related securities from a portfolio of internationally diversified companies. The Investment Manager will work actively to monitor the conduct of those companies and will engage with their management to seek high levels of performance in three specific areas: Corporate Governance, the Environment and Labour and Human Rights. The base currency of the Fund is US Dollars. Fund Description: The management of the fund is based upon SRI principles with an inclusive approach. The Investment Manager recognises that owning stock is a pre-requisite to having a critical voice in the management of a company. While the Investment Manager does not exclude any company or sector on SRI grounds, it analyses the portfolio and rates companies according to the three broad criteria: Corporate Governance, the Environment and Labour and Human Rights. The Investment Manager will encourage companies to attain high standards against these criteria and will pay particular attention to those companies which have a poor record. Through engagement with the latter, the Investment Manager will seek to eliminate shortcomings and improve their overall level of conduct. Aberdeen Global European Equity Fund The Fund s investment objective is long-term capital growth through investment primarily in equities and equity-related securities of corporations registered in Europe, or companies which derive a significant proportion of their revenues or profits from European operations or have a significant proportion of their assets there. The base currency of the Fund is Euro. Aberdeen Global European High Yield Bond Fund The Fund s investment objective is to maximise long term total return in Euro by investing primarily in high yield fixed interest securities denominated in Euro and issued by corporations or government related bodies. The Fund may also invest in other high yield fixed interest securities if, in the opinion of the Investment Manager, such investment would be compatible with achieving the Fund s investment objective. The base currency of the Fund is Euro. Aberdeen Global European Opportunities (Ex UK) Fund The Fund s investment objective is to aim for capital growth through investment in a broad spread of European (excluding the United Kingdom) securities chosen for their capital growth prospects. The Fund may also invest in securities of companies which, although incorporated outside of Europe, or in the United Kingdom, derive an important proportion of their earnings from trade with, or operations in Europe (excluding the United Kingdom). These securities will be listed/traded on Eligible Markets, except as otherwise permitted by the investment restrictions. The Fund will not invest in Emerging Markets. Distributable income will not be a consideration when investments are made. The base currency of the Fund is Euro. Aberdeen Global Fixed Interest Opportunities Fund The Fund s investment objective is to provide a high yield from a portfolio of Sterling denominated fixed interest, floating rate and variable rate securities including preference shares, where deemed appropriate. The Fund will invest in a Sterling denominated portfolio of both investment and non-investment grade securities without regard to the domicile of the issuer. Investment grade securities are considered to be Standard & Poor s long-term rated BBB- or higher, or the equivalent on the scale of other ratings bodies. The Fund may invest up to 100% of its Net Assets in securities which are below investment grade or which are not traded by any rating agency and a substantial proportion of the Fund may therefore be invested in such securities. The primary focus is on corporate debt and high yielding fixed interest, floating rate and variable rate securities issued by international bodies including governments, governmental organisations and supra-national bodies, particularly those issued in the Eurosterling Market. The majority of the portfolio will be invested in securities which are listed on the Eligible Markets of the European Union, Switzerland and the European Economic Area. The Investment Manager will not place any particular emphasis on specified maturity dates on acquisition. Securities acquired on the conversion of convertible securities held within the portfolio (or pursuant to schemes of reconstruction) and warrants attaching to investments acquired for the Fund may also be held for so long as the Investment Manager considers appropriate to maximise their realisation value. No more than 5% of the Net Assets of the Fund may be invested in warrants. Securities held by the Fund will be listed or traded on Eligible Markets, except as otherwise permitted by the investment restrictions. The base currency of the Fund is Sterling. 4

6 With effect from 30 March 2007, the investment objective of this Fund will be amended as follows: The Fund s investment objective is to provide a high yield from a portfolio of Sterling denominated fixed interest, floating rate and variable rate securities including preference shares, where deemed appropriate. The Fund will invest in a Sterling denominated portfolio of both investment and non-investment grade securities without regard to the domicile of the issuer. The Fund may also invest in securities denominated in currencies other than Sterling provided that the currency risk is mitigated by an appropriate hedging strategy designed to ensure that as far as possible the assets are protected against falls in the value of currencies other than in Sterling. Investment grade securities are considered to be Standard & Poor s long-term rated BBB- or higher, or the equivalent on the scale of other ratings bodies. The Fund may invest up to100% of its Net Assets in securities which are below investment grade or which are not rated by any rating agency and a substantial proportion of the Fund may therefore be invested in such securities. The primary focus is on corporate debt and high yielding fixed interest, floating rate and variable rate securities issued by international bodies including governments, governmental organisations and supra-national bodies, particularly those issued in the Eurosterling Market. The majority of the portfolio will be invested in securities which are listed on the Eligible Markets of the European Union, Switzerland and the European Economic Area. The Investment Manager will not place any particular emphasis on specified maturity dates on acquisition. Securities acquired on the conversion of convertible securities held within the portfolio (or pursuant to schemes of reconstruction) and warrants attaching to investments acquired for the Fund may also be held for so long as the Investment Manager considers appropriate to maximise their realisation value. No more than 5% of the net assets of the Fund will be listed or traded on Eligible Markets, except as otherwise permitted by the investment restrictions. The base currency of the Fund is Sterling. Aberdeen Global High Yield Bond Fund The Fund s investment objective is to invest in a broadly based portfolio of international fixed interest securities. The Fund will invest predominantly in fixed interest securities which do not constitute investment grade securities. The object of the Fund is to aim for a high income. Where opportunities exist, the Fund will endeavour to enhance capital growth. The Fund will be invested mainly in corporate Fixed Income Securities traded on the Eligible Markets of the European Union, Switzerland, the Europe Economic Area and North America. In addition the Fund may also invest in Sovereign and Convertible Fixed Income Securities traded on the said Eligible Markets. The Fund intends to hold no more than 50% of the Net Assets in non-sterling denominated fixed interest securities. The precise mix of the Fund is under continuing review to anticipate and take advantage of changing worldwide market conditions. At any time the Fund may contain a combination of any or all of the aforementioned securities. (A broadly based portfolio is one which invests in a number of different sectors of the market.). The Fund s base currency is Sterling. With effect from 30 March 2007, the investment objective of this Fund will be amended as follows: The Fund s investment objective is to invest in a broadly based portfolio of international fixed interest securities. The Fund will invest predominantly in fixed interest securities which do not constitute investment grade securities. The object of the Fund is to aim for a high income. Where opportunities exist, the Fund will endeavour to enhance capital growth. The Fund will be invested mainly in corporate Fixed Income Securities traded on the Eligible Markets of the European Union, Switzerland, the European Economic Area and North America. In addition the Fund may also invest in Sovereign and Convertible Fixed Income Securities traded on the said Eligible Markets. The precise mix of the Fund is under continuing review to anticipate and take advantage of changing worldwide market conditions. At any time the Fund may contain a combination of any or all of the aforementioned securities. (A broadly based portfolio is one which invests in a number of different sectors of the market). The Fund s base currency is Sterling. Aberdeen Global India Opportunities Fund The Fund aims to achieve long term capital appreciation by investing in the equity of companies which are incorporated in India or which derive significant revenue or profit from India. Dividend yield from the Fund will be of secondary importance. A flexible approach to the investment parameters will be taken in order to optimise growth potential from the portfolio of investments and to minimise the risks typical of emerging market investment and specifically in relation to liquidity and settlement issues. As a result, the Investment Manager intends to invest in India through three principal methods: i) companies listed on the Indian stock exchanges. ii) Indian securities listed on other international stock exchanges, such as Global Depository Receipts. 5

7 iii) India. companies listed on other international exchanges which derive significant revenue from or profit from The Fund may also, where appropriate, invest in UCITS/UCIs (being open-ended collective investment schemes) which invest in India and are listed on a Regulated Market. The balance of the Fund s assets will be invested in short-term debt securities of at least S&P rating A-, including certificates of deposit, and may hold ancillary liquid assets. The Fund may deal in and hold monies in currencies other than those of the countries in which it is invested. The Fund will not specialise in any market segment or geographical region of India. The base currency of the Fund will be US Dollars. The investment objective and policy also apply to the Mauritian Subsidiary. For more details on the Mauritian Subsidiary see Appendix E. Aberdeen Global Japan Smaller Companies Fund The Fund s investment objective is to aim to achieve long-term capital growth from active investment in the equity and equity related securities of Japanese small companies listed or traded in an Eligible Market i.e. through investment in Japanese securities, the majority of which are, at the time of investment, constituents of the bottom 20% of the market capitalisation of shares in Japan. The Fund will invest in equity and equity related securities issued by smaller companies listed or traded on a Regulated Market in Japan. The Fund may also invest in equity and equity related securities of smaller companies located in Japan and of companies which have, in the opinion of the Investment Manager, substantial economic exposure to Japan, but which are listed or traded on another Regulated Markets. The Investment Manager may increase the Fund's investment in securities outside the market capitalisation range referred to above, without being under an obligation to do so, when it believes that such a change is likely to enhance returns and/or decrease risk. The Fund can invest in securities listed or traded on any of the Japanese Stock Exchanges. It can also invest in the Japanese over-the-counter market. The intention is to capture the superior long-term performance whilst minimising risk through diversification. Although in the bottom 20% by market capitalisation at the time of investment, subsequent moves out of the bottom 20% will not be sold unless, in the opinion of the Investment Manager, this is in the best interests of the shareholders. The Fund mainly invests in stocks listed on the Tokyo Stock Exchange, which includes stocks listed on the Market for High Growth and Emerging Stocks ("MOTHERS"), a section of the Tokyo Stock Exchange. However, the Fund can also invest in companies quoted on any stock exchange located in Japan, the Japanese over-the-counter market regulated by the Securities Dealers Association of Japan and in the securities of Japanese companies or non-japanese companies with, in the opinion of the Investment Manager, significant exposure to Japan, which are listed or traded on any Regulated Market. In addition to the use of financial derivatives instruments, the Fund may also employ other techniques for efficient portfolio management, such as securities lending and reverse repurchase transactions. 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. Furthermore, the Fund's portfolio may be fully or partially hedged back to the base currency if, in the opinion of the Investment Manager, this is believed to be appropriate. The base currency of the Fund is Japanese Yen. Aberdeen Global Japanese Equity Fund The Fund s investment objective is long-term capital growth primarily through investment in equities and equity-related securities of corporations registered in Japan, or in companies which derive a significant proportion of their revenues or profits from Japanese operations or have a significant proportion of their assets there. The base currency of the Fund is Japanese Yen. 6

8 Aberdeen Global Sovereign High Yield Bond Fund (to be renamed Aberdeen Global - Emerging Markets Bond Fund with effect from 30 March 2007) The Fund s investment objective is to maximise long term total return by investing primarily in international high yield fixed interest securities including US, international and emerging market debt instruments, issued by emerging country governments, supranational organisations or government related bodies. The base currency of the Fund is US Dollars. Aberdeen Global Sterling Corporate Bond Fund The Fund s investment objective is to aim for a high and stable income through investment in a portfolio of Sterling denominated fixed interest, floating rate and variable rate securities including preference shares and convertible securities, with an emphasis on those assets which offer a higher yield than gilts. The Fund will invest in a Sterling denominated portfolio of both investment and non-investment grade securities without regard to the domicile of the issuer. Investment grade securities are considered to be Standard & Poor s longterm rated BBB or higher or the equivalent on the scale of other ratings bodies. The emphasis will be on investment grade corporate securities, however, the Fund may invest up to 40% of its Net Assets in below securities which are below investment grade or which are not traded by any rating agency and a substantial proportion of the Fund may therefore be invested in such securities. A proportion of the portfolio may be invested in gilts. The portfolio will include governmental issues, corporate debt and high yielding fixed interest, floating rate and variable rate securities issued by international bodies including governments, governmental organisations and supra-national bodies, particularly those issued in the Eurosterling Market. The majority of the portfolio will be invested in securities which are listed on the Eligible Markets of the European Union, Switzerland and the European Economic Area. The Investment Manager will not place any particular emphasis on specified maturity dates on acquisition. Securities acquired on the conversion of convertible securities held within the portfolio (or pursuant to schemes of reconstruction) and warrants attaching to investments acquired for the Fund may also be held for so long as the Investment Manager considers appropriate to maximise their realisation value. No more than 5% of the Net Assets of the Fund may be invested in warrants. Securities held by the Fund will be listed or traded on Eligible Markets, except as otherwise permitted by the investment restrictions. The base currency of the Fund is Sterling. Aberdeen Global Sterling Financials Bond Fund The Fund s investment objective is to provide a total return for investors which exceeds that available from UK building society deposits over the long term by investing in a portfolio of short-dated (i.e. maturity of five years or less) sterling denominated bonds and debt securities generally issued by UK banks, financial institutions and building societies ( financials ) and rated at least A by Standard & Poors Corporation ( S&P ). The base currency of the Fund is Sterling. Aberdeen Global Technology Fund The Fund s investment objective is to aim for above average long-term capital growth from an international portfolio of securities issued by companies involved in high technology industries. The base currency of the Fund is US Dollars. Aberdeen Global UK Opportunities Fund The Fund s investment objective is long-term capital growth through investment primarily in equities and equity-related securities of companies registered in the United Kingdom, or companies which derive a significant proportion of their revenues or profits from United Kingdom operations or have a significant proportion of their assets there. The base currency of the Fund is Sterling. Aberdeen Global World Bond Fund The Fund s investment objective is to invest in a range of high quality bonds in those fixed interest markets of the world which, in the opinion of the Investment Manager, offer the optimum potential for a high income and also capital growth. The core of the Fund is invested in the traditional major markets of Europe, the Far East and North America. In addition to this, the Investment Manageralso actively seeks out newer emerging bond markets where the higher yields available can often be at odds with improving economic and/or political trends. The Investment Manager also seeks to exploit anomalies between Government, supra-national and quality corporate issues. Derivatives (being the investment techniques and instruments referred to in Appendix A) are used when appropriate within the limits set down by the Central Bank of Ireland for the purposes of efficient portfolio management with the aim of improving capital and income returns. The precise mix of the portfolio is under continuing review to anticipate and take advantage of changing worldwide market conditions. The base currency of the Fund is Sterling. 7

9 Aberdeen Global World Equity Fund The Fund s investment objective is to provide long term total return from an internationally diversified portfolio of which at least two-thirds will be invested in equities or equity-related securities. The base currency of the Fund is US Dollars. Aberdeen Global Worldwide Smaller Companies Fund The Fund's investment objective is to provide long term total return by investing in an internationally diversified portfolio of which at least two-thirds will be invested in equities or equity-related securities of smaller companies. The Investment Manager shall determine what constitutes a "smaller company" from time to time. The base currency of the Fund is US Dollars. RISK FACTORS 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). Where a purchase involves a foreign exchange transaction, it may be subject to the fluctuations of currency values. Exchange rates may also cause the value of underlying overseas investments to go down or up. The Investor should be aware that not all of the following risk warnings apply to all Funds. Regulatory 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. Investment Objective There is no guarantee that the investment objectives of any of the above mentioned Funds will be achieved. The investor should also be aware of the investment objectives of the Fund as these may state that the Funds 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. An investor should ensure (prior to any investment being made) that they are satisfied with the risk profile of the overall objectives disclosed. 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. Futures and Options As detailed in the section Investment Techniques and Instruments Aberdeen Global may use, under certain conditions, options and futures on indices and interest rates, for the purposes of efficient portfolio management. 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. Transactions in futures carry a high degree of risk. The amount of the initial margin is small relative to the value of the futures contract so that transactions are leveraged or geared. A relatively small market movement will have a proportionately larger impact which may work for or against the investor. The placing of certain orders which are intended to limit losses to certain amounts may not be effective because market conditions make it impossible to execute such orders. Transactions in options also carry a high degree of risk. Selling ( writing ) an option generally entails considerably greater risk than purchasing options. Although the premium received by the seller is fixed, the seller may sustain a loss well in excess of that amount. The seller will also be exposed to the risk of the purchaser exercising the option and the seller will be obliged either to settle the option in cash or acquire or deliver the underlying interest. If the option is covered by the seller holding a corresponding position in the underlying interest or a future on another option, the risk may be reduced. Hedging Class A, Class I and Class Z shares may be made available in Euro, Sterling or US Dollar hedged versions. 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, the Investment Manager may use financial swaps, futures, forward currency 8

10 exchange contracts, options and other derivative transactions in order to preserve the value of the hedged Share Class currency against the base currency of the Fund. Where undertaken, the effects of the hedging will be reflected in the Net Asset Value of the hedged Share Class. Any expenses arising from such hedging transactions will be borne by the Share Class in relation to which they have been incurred and will thereby impact on the performance of that Share Class. Where such hedging is undertaken 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. Smaller Companies Funds The smaller companies equity Funds may fluctuate in value more than other Funds because of the greater volatility of share prices of smaller companies. 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 Fund invests, and cause severe or complete declines in the prices of the securities of those companies. Ethical 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. 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. 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. Nominee Arrangement By investing in the Funds through HSBC Institutional Trust Services (Asia) Limited, you will have a direct contractual relationship with HSBC Institutional Trust Services (Asia) Limited and will not have any direct contractual rights against Aberdeen Global and/or the Global Distributor. HSBC Trustee Institutional Trust Services (Asia) 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. HSBC Institutional Trust Services (Asia) Limited in its capacity as the nominee for shareholders of Aberdeen Global intends to resign and transfer all of its holdings in the Shares of Aberdeen Global to Aberdeen Nominees Services Limited. Such transfer will become effective on 26 March RBC Dexia Trust Services Hong Kong Limited will be appointed as administration agent to provide administrative services to Aberdeen Global. This change will not affect the operation of Aberdeen Global or the level of fees payable by Aberdeen Global. 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 9

11 statements are intended to summarise some of these risks, 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. 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. 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 on 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 shareholder s 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. 10

12 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. 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. 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. RISK PROFILE In addition to the general Risk Factors set out above potential investors should be aware of certain fund specific risks: Aberdeen Global American Opportunities Fund Aberdeen Global Australasian Equity Fund Aberdeen Global China Opportunities Fund Aberdeen Global India Opportunities Fund Aberdeen Global Japanese Equity Fund Aberdeen Global Japan Smaller Companies Fund Aberdeen Global UK Opportunities Fund where the Fund s exposure to a single country market increases potential volatility. Aberdeen Global Asian Smaller Companies Fund Aberdeen Global Emerging Markets Smaller Companies Fund Aberdeen Global Japan Smaller Companies Fund Aberdeen Global Worldwide Smaller Companies Fund where the Fund invests in smaller companies where share price volatility may be experienced and above average price movements may be expected. Aberdeen Global Asia Pacific and Australasian Bond Fund Aberdeen Global European High Yield Bond Fund Aberdeen Global High Yield Bond Fund Aberdeen Global Sovereign High Yield Bond Fund (to be renamed Aberdeen Global-Emerging Markets Bond Fund with effect from 30 March 2007) Aberdeen Global Sterling Corporate Bond Fund Aberdeen Global Sterling Financials Bond Fund Aberdeen Global World Bond Fund where 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 shares is likely to fall and vice versa. Credit rate risk reflects the ability of a bond issuer to meet its obligations. Aberdeen Global Australasian Equity Fund Aberdeen Global Asia Pacific Fund Aberdeen Global Asia Pacific and Japan Fund Aberdeen Global Asian Smaller Companies Fund Aberdeen Global European High Yield Bond Fund 11

13 where the Fund s exposure to a specific regional market increases potential volatility. Aberdeen Global Technology Fund where the Fund invests in a specialist market sector and as such is likely to be more volatile than a more diversified fund. Aberdeen Global European High Yield Bond Fund Aberdeen Global Fixed Interest Opportunities Fund Aberdeen Global High Yield Bond Fund Aberdeen Global Sovereign High Yield Bond Fund (to be renamed Aberdeen Global- Emerging Markets Bond Fund with effect from 30 March 2007) Aberdeen Global Fixed Interest Opportunities Fund where the Fund's portfolio has a significant position in high-yielding bonds, which means that there is more risk to investor's capital and income than from a fund investing in government or investment-grade bonds. Aberdeen Global Fixed Interest Opportunities Fund Aberdeen Global Sterling Corporate Bond Fund Aberdeen Global Sterling Financials Bond Fund where the Fund s portfolio has a significant position in one currency. MINIMUM INVESTMENT The minimum Investment Amount for any initial or subsequent investment in a Fund is US$1,500 or currency equivalent, However for Class I and Class Z Shares and the hedged versions of Class I and Class Z Shares the minimum investment amount for any investment in a Fund is US$1,000,000 or currency equivalent and the subsequent investment is US$10,000 or currency equivalent. These minima may be waived at Aberdeen Global s discretion. For initial investments the minimum may, at Aberdeen Global s discretion, be waived in order to facilitate an investor commencing a pre-defined regular savings scheme with a commitment to invest at least US$1,500 (US$10,000 for the Class I and Class Z Shares and the hedged versions of Class I and Class Z Shares) or currency equivalent. For subsequent investments the minimum may, at Aberdeen Global s discretion, be waived in order to facilitate an on-going, pre-defined regular savings scheme. TYPE OF SHARES Types of Shares The Shares relating to each Fund are issued in registered form and are not available in bearer form. Ownership of Shares is evidenced by an entry in Aberdeen Global s register of shareholders. Not all Funds will issue all Classes of Shares. Details of the Share Classes in issue as at the date of this Summary Prospectus are listed in Appendix D. However, Investors should refer to for current details of which Classes of Shares are in issue. Class A, Class I and Class Z Shares will be issued in the base currency of the relevant Fund. Class D Shares are Sterling denominated. Class A, Class I and Class Z Shares may also be made available in Euro, Sterling or US Dollar hedged versions. These hedged Share Classes will be invested with the intention that the impact on performance of the hedged share class of movements in the currencies of the hedging relative to the base currency of the relevant Fund will be limited. The Investment Manager will generally undertake currency hedging to minimise these Share Classes exposure to the fluctuations of the currencies of hedging against the base currency of the relevant Fund but in any event such hedging will not exceed 100% of the Net Asset Value of the relevant Share Class. The Investment Manager will seek to achieve this hedging by using 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 the CSSF and the SFC. If, due to market movements, a Class is more than 100% hedged a reduction to such exposure will be sought within an appropriate time scale, subject to market conditions and the best interests of the shareholders of that Class. 12

14 Class A, Class D Shares and the hedged versions of Class A Shares are available to all investors. Class I and Class Z Shares and the hedged versions thereof are only available to Institutional Investors who enter into a suitable agreement with the Investment Manager or an Associate. Class B Shares were closed to new subscriptions with effect from 28 February Class A Class D, Class I and Class Z Shares of each Fund are offered at a price based on the Net Asset Value adjusted to reflect any applicable dealing charges plus, if applicable, an initial charge. The hedged versions of Class A, Class I and Class Z Shares are similarly offered at a price based on the 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 pages 22 to 23). Those Class B Shares that remain in issue bear an annual distribution fee and are normally subject to a contingent deferred charge if redeemed within four years of issue. CHARGES AND EXPENSES SALES CHARGE STRUCTURE Class A and D Shares Initial Sales Charge Class A and Class D 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 6.0% of the aggregate investment amount). The current level of initial sales charge is 5.0% 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%. Class A and Class D Shares of all Funds will have no exit charge on redemption. The hedged versions of Class A Shares bear the same initial sales charge as Class A Shares. Class B Shares (Class B Shares are closed to new subscriptions from 1 March 2006) Contingent Deferred Sales Charge The proceeds of any redemption of Class B Shares by a shareholder during the first four years after purchase will be reduced in accordance with the following percentage scale. This represents a reducing contingent deferred sales charge liability for Class B shareholders. The scale is as follows: Year of Redemption Contingent Deferred Sales Charge as a Percentage of Relevant Share Price Within 1 year of purchase 4.0% After 1 year but within 2 years of purchase 3.0% After 2 years but within 3 years of purchase 2.0% After 3 years but within 4 years of purchase 1.0% After 4 years of purchase None The contingent deferred sales charge will be calculated as a percentage of the lesser of the relevant Share Price on the date of redemption and the date of issue. 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 B Shares first being redeemed are those Shares issued through dividend reinvestment (if any) and, after that, those which have been held by the shareholder for the longest period of time. 13

15 Class I Shares Class I Shares of all Funds will have no initial charge and no exit charge on redemption. Class I Shares are only available to Institutional Investors who have entered into a suitable agreement with the Investment Manager or one of its Associates. The hedged Class I Shares will similarly have no initial charge and no exit charge on redemption. They are also only available to Institutional Investors who have entered into a suitable agreement with the Investment Manager or one of its Associates. Class Z Shares Class Z Shares of all Funds will have no initial charge and no exit change on redemption. Class Z Shares are only available to Institutional Investors who have entered into a suitable agreement with the Investment Manager or one of its Associates. The Euro, Sterling and US Dollar hedged Class Z Shares will similarly have no initial charge. They are also only available to Institutional Investors who have entered into a suitable agreement with the Investment Manager or one of its Associates. ANNUAL CHARGE 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, three months' 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. Shareholders approval will be sought in the event of an increase beyond the maximum level permitted by the investment management agreement. Management Company s Fees Aberdeen Global will pay the Management Company a fee which will not exceed 0.04% per annum of the net assets of Aberdeen Global. General The Global Distributor and Investment Manager may share the whole or any part of the charges or fees outlined herein with the Domiciliary Agent, Registrar, Paying and Transfer Agent or with any sub-distributor or intermediary. The Domiciliary Agent, Registrar, Paying and Transfer Agent may act as the collecting or processing agent for such charges or fees. Operational Expenses Aberdeen Global will pay the expenses of its incorporation and operation. This includes remuneration of the Custodian, Aberdeen Global s legal advisers and auditors, and payment of certain expenses, as agreed from time to time, of the Administrator and the Global Distributor. Aberdeen Global will pay other expenses incurred in its operation including the cost of printing and distributing the Annual and Interim Reports, the Summary Prospectus and other offering documents, all brokerage, taxes and governmental duties and charges payable by Aberdeen Global, any fees and expenses involved in obtaining or maintaining any registration or authorisation of Aberdeen Global with any governmental agency or stock exchange, the cost of publication of Share Prices and all other operating expenses of Aberdeen Global determined to be reasonable and customary by the Board of Directors. In addition to the fees paid to service providers, advisers or agents of Aberdeen Global, Aberdeen Global may also pay certain out-of-pocket expenses of such entities determined to be reasonable and customary by the Board of Directors. 14

16 The costs of the launch of the Aberdeen Global Asian Smaller Companies Fund, Aberdeen Global China Opportunities Fund, Aberdeen Global European Opportunities (Ex UK) Fund, Aberdeen Global Fixed Interest Opportunities Fund, Aberdeen Global High Yield Bond Fund, Aberdeen Global India Opportunities Fund, Aberdeen Global Sterling Corporate Bond Fund, Aberdeen Global Sterling Financials Bond Fund and Aberdeen Global World Bond Fund will be borne by Aberdeen Asset Managers Limited. For so long as Aberdeen Global is authorised by the Securities and Futures Commission, expenses arising from any advertising or promotional activities shall not be paid from the property of Aberdeen Global. Custodian Fees and Expenses The Custodian's fee will not exceed 2% per annum (plus VAT, if any) of the net assets of Aberdeen Global as determined on the last Dealing Day of the month. In addition to the Custodian fees charged in accordance with the agreement with BNP Paribas Securities Services, Luxembourg Branch the Custodian is entitled to be reimbursed by Aberdeen Global for its reasonable out-of-pocket expenses and disbursements and for the transaction charges of any correspondent banks. The amount paid to the Custodian will be shown in the Annual Report of Aberdeen Global. Domiciliary & Paying Agent Fees and Expenses Under the Domiciliary and the Paying Agency Agreement, Aberdeen Global will pay the Domiciliary Agent and Paying Agent fees not exceeding 0.4% per annum of the net assets of Aberdeen Global as determined on the last Dealing Day of the month. The amount paid to the Domiciliary and Paying Agent will be shown in the Annual Report of Aberdeen Global. Registrar & Transfer Agent Fees and Expenses The Registrar and Transfer Agent's fees will not exceed 0.8% per annum of the net assets of Aberdeen Global as determined on the last Dealing Day of the month. The amount paid to the Registrar and Transfer Agent will be shown in the Annual Report of Aberdeen Global. Global Distributor s Fees and Expenses The Global Distributor s fees will not exceed 0.45% per annum of the net assets of Aberdeen Global as determined on the last of the net assets of Aberdeen Global as determined on the last Dealing Day of the month. The amount paid to Global Distributor will be shown in the Annual Report of Aberdeen Global. A fee of 1.0% per annum of the Net Asset Value of the Class B Shares is payable by Aberdeen Global to the Global Distributor for providing distribution services (i.e. co-ordinating sales and marketing activities) to Aberdeen Global. 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 financial intermediaries or institutions. Administrator Under the Administration Agency Agreement, Aberdeen Global will pay the Administrator s fees not exceeding 0.05% per annum (plus VAT, if any) of the net assets of Aberdeen Global as determined on the last Dealing Day of the month subject to a minimum of 32,500 per annum. The Administrator is entitled to be reimbursed by Aberdeen Global for any reasonable out-of-pocket expenses properly incurred in carrying out its duties. The amount paid to the Administrator will be shown in the Annual Report of Aberdeen Global. Directors Fees and Expenses Any Director of Aberdeen Global who is not a Connected Persons (as defined in the Articles of Incorporation of Aberdeen Global) of the Transfer Agent, the Administrator, the Investment Manager, any Investment Adviser or the Custodian will be entitled to a fee in remuneration for their services at the rate determined by Aberdeen Global in the Annual General Meeting. In addition, all Directors may be paid reasonable travelling, hotel and other incidental expenses for attending meetings of the Board of Directors or shareholders of Aberdeen Global. 15

17 Allocation of Charges and Expenses Each Class of Shares of each Fund is charged with all costs and expenses attributable to it. Costs and expenses not attributable to a particular Class or Fund are allocated between all the Classes of Shares pro rata to their respective Net Asset Values. Charges and expenses are normally charged first against investment income and then against net realised capital gains and thereafter may be taken against capital. Aberdeen Global is a single legal entity. Pursuant to Article 133 of the Law of 2002, 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. Four Classes of Shares are available, namely Class A, Class D, Class I and Class Z, although all are not available for each of the Funds. Investors should refer to for current details of which Classes of Shares are in issue. These Classes of Shares are further divided into Class A-1 and A-2 Shares, Class D-1 and D-2 Shares, Class I -1 and I - 2 Shares and Class Z - 1 and Z - 2 Shares. Class A, Class I and Class Z Shares may also be made available in Euro, Sterling or US Dollar hedged versions which are similarly divided into the following Classes of Shares: Class A( )-1 and Class A( )-2 Shares, Class A( )-1 and Class A ( )-2 Shares and Class A($)-1 and Class A($)-2 Shares Class I( )-1 and Class I( )-2 Shares, Class I( )-1 and Class I ( )-2 Shares and Class I($)-1 and Class I($)-2 Shares. Class Z( )-1 and Class Z( )-2 Shares, Class Z( )-1 and Class Z ( )-2 Shares and Class Z($)-1 and Class Z($)-2 Shares. Class B Shares, divided into Class B-1 and Class B-2 Shares have been closed to new business since 1 March Class A-1, Class B-1, Class I-1 and Class Z-1 Shares Dividends of net investment income will be distributed on this Class of Shares. Class A-2, Class B-2, Class I-2 and Class Z-2 Shares The Board of Directors does not intend to declare any dividends in respect of these Shares. Accordingly, the net investment income attributable to the Shares will be reflected in the respective Net Asset Value of the Shares. Class D-1 Shares Dividends of net investment income will be declared and distributed on this Class of Shares. Reinvestment of income to purchase additional Shares is also available. Class D-2 Shares Dividends of net investment income will be declared and accumulated within the share price on this class of Shares. This will be accumulated on an annual basis. The dividend policy of the hedged Share Classes are the same as that of the underlying Shares. For those Shares in issue, subject to income being available for distribution, the Board of Directors intends to declare dividends for the following Classes of Shares, namely, Class A-1, Class B-1, Class D-1, Class D-2, Class I-1 and Class Z-1. However, the Board of Directors reserves the right to increase or decrease the frequency of dividend payments at their discretion. 16

18 The dividends for the following Funds will be declared six monthly on the last Business Day of the month and will be paid two calendar months after declaration: Aberdeen Global American Opportunities Fund Aberdeen Global Asia Pacific Fund Aberdeen Global Asia Pacific and Japan Fund Aberdeen Global Asian Smaller Companies Fund Aberdeen Global Australasian Equity Fund Aberdeen Global China Opportunities Fund Aberdeen Global Emerging Markets Fund Aberdeen Global Emerging Markets Smaller Companies Fund Aberdeen Global European Equity Fund Aberdeen Global European Opportunities (Ex UK) Fund Aberdeen Global India Opportunities Fund Aberdeen Global Japanese Equity Fund Aberdeen Global Japan Smaller Companies Fund Aberdeen Global Sterling Financials Bond Fund Aberdeen Global Technology Fund Aberdeen Global UK Opportunities Fund Aberdeen Global World Bond Fund Aberdeen Global World Ethical Engagement Fund Aberdeen Global World Equity Fund Aberdeen Global Worldwide Smaller Companies Fund The dividends for the following Funds will be declared quarterly on the last Business Day of the month and will be paid two calendar months after declaration: Aberdeen Global Asia Pacific and Australasian Bond Fund Aberdeen Global High Yield Bond Fund The dividends for the following will be declared monthly on the last Business Day of the month and will be paid one calendar month after declaration: Aberdeen Global European High Yield Bond Fund Aberdeen Global Fixed Interest Opportunities Fund Aberdeen Global Sovereign High Yield Bond Fund (to be renamed Aberdeen Global Emerging Markets Bond Fund with effect from 30 March 2007) Aberdeen Global Sterling Corporate 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 the declaration of the preceding Business Day. CALCULATION OF NET INVESTMENT INCOME The net investment income available for distribution, accumulation or rollup 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 paid or 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: 17

19 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 levy); 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 or rollup 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 solely in respect of that Class; that Class share of the costs, charges and expenses incurred in respect of that Class and one or more other Classes in the Fund, but not in respect of the Fund as a whole; that Class proportion of the costs, charges and expenses incurred in respect of or attributable to the Fund as a whole. 4. In each case, the Administrator will make such adjustments for taxation matters as the Administrator considers appropriate after consultation with the Auditors such that no particular Class of Share suffers material prejudice as opposed to another Class of Share. 5. Where a Class of Share 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. PAYMENT OF DIVIDENDS Dividends for Reinvestment Dividends in respect of the A-1, B-1, D-1, I-1 and Z-1 Classes of Shares and the hedged versions of Class A-1, I-1 and Z-1 Shares will automatically be reinvested in additional Shares of the same Class (except for Class B Shares) 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 at the Share Price on the relevant dividend payment date and are free of any sales charge. Dividends declared in respect of Class B Shares will be received in cash. Reinvested dividends are likely to be treated as income received by the shareholder for tax purposes in most jurisdictions. Dividends for Payment by Cheque or Bank Transfer Dividends are declared in the currency in which the Fund giving rise to the dividend is denominated. They can, upon request, be paid, at the expense and risk of the shareholder, in the preferred currency of the shareholder (usually the currency of original investment), either by cheque, or, 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. 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. 18

20 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. In particular, the Investment Manager applies a dilution adjustment in the event that net subscriptions and redemptions reach 5% of the Net Asset Value of the relevant Fund although a lower limit may be set if required. This adjustment accrues to the benefit of the Fund itself. 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. The Board of Directors of Aberdeen Global may suspend dealing in the event that a reliable price cannot be established as at the valuation point. (A) Applications for the issue of Shares Class A, Class D and the hedged versions of Class A Shares are available to all investors. As noted above, Class I and Class Z Shares and the hedged versions thereof are only available to Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. The qualification for investors in the hedged Share Classes are the same as that for the underlying Class of Shares. Applications should be made either by using the enclosed application form or by letter or fax containing all relevant information requested in such 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 27. Applications may also be sent to HSBC Institutional Trust Services (Asia) 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 4.30 p.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. Potential investors should note that, in the case of Class A and Class D 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). 19

21 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., Sterling, US dollars, Australian dollars, Euros and Yen) but, in the case of payments other than in the currency in which the relevant Share price is expressed, the Global Distributor may charge the applicant the cost of conversion into that currency and deduct the same from the applicant s investment amount. 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. 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) by telegraphic transfer of HK dollars with instructions to advise the Global Distributor of receipt of funds and the applicant s name; or (ii) by HK dollar cheque drawn on the applicant(s) bank account or bank draft payable to Aberdeen Global 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. Applicants wishing to make payment by telegraphic transfer should remit the money to: - in the case of HK dollars: Bank of America N.A. (SWIFT: BOFAHKHX) Hong Kong Branch 17-F1 Devon House 979 King s Road Quarry Bay Hong Kong SWIFT address: BOFAHKHX Account Name: Aberdeen Global Account Number: Reference: Aberdeen Global + Client Name and/or Contract Number Upon receipt by the Global Distributor of an application, the Global Distributor will issue a receipt in respect of such application 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. Pursuant to the Luxembourg laws of 19 February 1973 to combat drug addiction, as amended, of 5 April 1993, relating to the financial sector, as amended, and of 12 November 2004 on the fight against money laundering and prevention of terrorist financing and to the relevant circulars of the supervisory authority, obligations have been imposed on professionals of the financial sector to prevent the use of undertakings for collective investment such as Aberdeen Global for money laundering purposes. Within this context measures to ensure the identification of investors have been imposed. The Application Form of an investor must be supported in the case of individuals, by a copy of the passport or identification card and/or in the case of legal entities, a copy of the statutes and an extract from the commercial register (any such copy must be certified to be a true copy by one of the following authorities: ambassador, consulate, notary, local police). Investors may be asked to produce additional documents for verification of their identity before acceptance of their applications. The right is reserved by Aberdeen Global to reject any application 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 by cheque or, at the cost of the applicant, by telegraphic transfer. 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 20

22 Services (UK) Ltd.) 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. 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.) as attorney-in-fact to collect from State Street Bank Luxembourg 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. Aberdeen Asset Managers Limited employs International Financial Data Services (UK) Ltd. as a data processing agent to receive and enter into the Registrar and Transfer Agent system subscription, redemption and conversion orders for acceptance by the Registrar and Transfer Agent. (B) Requests and instructions for the redemption and 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 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 being less than US$1,500 (or US$1,000,000 for Class I Shares or Class Z Shares or the hedged versions of these Share Classes), or currency equivalent, Aberdeen Global reserves the right to redeem the full shareholding in the Fund (or Class) and pay the proceeds to the shareholder. If a request to switch Shares would result in that shareholder s investment in one Fund being less than US$1,500 (or US$1,000,000 for Class I Shares or Class Z Shares or the hedged versions of these Share Classes), or currency equivalent in any one Fund or Class, Aberdeen Global reserves the right to switch the full shareholding in the Fund (or Class). Subject to the qualifications for investment being, Class A and Class D shareholders may switch between those Classes in the same Fund or another Fund. Class A and Class D shareholders may only switch into Class I Shares or Class Z Shares of the same Fund or another Fund with the prior consent of the Global Distributor and provided they qualify as Institutional Investors and they comply with the minimum investment requirements. Class I shareholders may switch in Class A or D Shares. Shareholders may not switch Class A, D, I or Z Shares into Class B Shares of the same Fund or another Fund, or vice versa. However, existing Class B shareholders may switch into Class B Shares in a Fund which historically issued Class B Shares. The conditions for exchange or switching of the hedged versions of Class A, I and Z Shares are the same as the underlying Share Class. If a request to switch shares would result in a shareholder owning less than the minimum holding of US$ 1,500 (or US$ 1,000,000 for Class I Shares or Class Z Shares or the hedged versions of these Share Classes), or currency equivalent in any one Fund or Class, Aberdeen Global reserves the right to switch the full shareholding in that Fund (or Class). 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 subject to applicable switching charges. A charge payable to the Global Distributor of up to 1% of the Net Asset Value of the Shares being switched may be made. Due to the settlement period of five business days, Shares are not available to be switched within five business days following a previous subscription or switch (affecting those shares). 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 4:30 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. In the case of a redemption of Shares, the Transfer Agent will pay the redemption proceeds in accordance with the shareholder s instructions given at the time of application for the relevant Shares unless otherwise requested by the shareholder. No third party payment can be made. Unless otherwise requested, proceeds of redemption 21

23 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. If bank account details are not available, payment will be made by cheque, made payable to the registered shareholder(s) and sent to their registered address. 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. (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 ). 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) the Net Asset Value per Share of that class is calculated on that Dealing Day (for further details, please refer to Appendix B); (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; (c) 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 (d) 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) in the case of the issue of Class A and Class D Shares (as described in the Summary Prospectus), an initial charge may be deducted from an investor s investment amount (i.e., subscription monies) prior to application in acquiring Shares; (ii) in the case of the redemption of Shares (whether Class A or Class D 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 I and Class Z Shares (as described in the 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 initial charge and no exit charge on redemption; and (v) in the case of the switching of Shares, a switching charge may be applied as described on page 21. 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 to reflect any dealing charges (which shall include any expenses 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 22

24 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 is rounded to the nearest number of the smallest denomination available in 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 in the South China Morning Post and the Hong Kong Economic Times. Prices are also available in The Financial Times. Share Prices will not, however, be current by the time of publication. SUSPENSION OF DEALING Aberdeen Global may suspend the determination of the Net Asset Value of shares of any Fund and the dealing of such Shares. Please refer to Appendix C for further details for the relevant circumstances. TAXATION OF ABERDEEN GLOBAL Aberdeen Global is not liable to any Luxembourg tax on profits or income. Aberdeen Global is liable in Luxembourg to a tax at a rate of 0.05% per annum (0.01% for Class I Shares and Class Z Shares, being Shares that can be held by Institutional Investors ) of the Net Asset Value of each Class 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 1, Euro paid by Aberdeen Global on its incorporation. No Luxembourg tax is payable on the realised capital gains or unrealised capital appreciation of the assets of Aberdeen Global. Dividends and interest received by Aberdeen Global on its investments may be subject to irrecoverable withholding taxes at source. 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. TAXATION OF SHAREHOLDERS 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. 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 13:00 hours on the twenty-first day, or, if such day is not a Business Day, the next Business Day thereafter, in February. 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. 23

25 Aberdeen Global s financial year ends on 30 September. Annual reports giving details of each of the Funds together with the audited consolidated annual accounts of Aberdeen Global (in US Dollars) will be sent to shareholders and made available at Aberdeen Global s registered office within four months of the end of the year which it covers and at least 15 days before the Annual General Meeting. In addition, a half-yearly report including unaudited consolidated half-yearly accounts will be available, free of charge to shareholders upon request at the registered office of Aberdeen Global within two months of the period which it covers. 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. 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 and public holidays excepted) at the offices of the Global Distributor, at the registered office of the Management Company, 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 the Mauritian Subsidiary; (b) the latest un-audited semi-annual 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 Domiciliary and Paying Agent and the Custodian; (f) the agreements concluded by Aberdeen Global and the Management Company with the Registrar and Transfer Agent, 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 UCITS I Regulations applicable to the Funds will be available at the Investment Manager s office detailed below. 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. 24

26 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. 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 OF 2002 Notwithstanding Aberdeen Global s intended adoption of the new investment restrictions under the Law of 2002, for so long as Aberdeen Global and the Funds remain authorised under the Securities and Futures Ordinance (Cap 571, Laws of Hong Kong) and unless otherwise approved by the Securities and Futures Commission, Aberdeen Global will take all reasonable steps to operate the Funds having regard to the general investment principles under the European Union Directive 85/611 of 20 December 1985 ( UCITS I Regulations ). 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 Securities and Futures Commission 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 UCITS I Regulations applicable to the Funds will be available at the Investment Manager s office detailed below. IMPORTANT INFORMATION 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. Martin Gilbert Bev Hendry Christopher Little Gary Marshall David van der Stoep Was founding director of Aberdeen Asset Management PLC in 1983 and has been Chief Executive since He holds a Masters degree in Accountancy and Bachelor 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 several investment trust boards. He is Chairman of First Group PLC and Chaucer plc. Has been a Managing Director of Aberdeen Asset Management Inc since 1995 and is resident in the United States of America. He has a degree in Economics and Statistics from Aberdeen University and is a qualified Chartered Accountant. 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 including an Investment Trust. Is Chief Executive of Aberdeen Unit Trust Managers 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 and is now Head of Group Marketing. Was a Managing Director of Staten Bank Holland NV in The Hague from 1976 to 1989 and is now President of AR Group Limited, based in Monaco, where he has been involved in corporate and mining finance and foreign exchange 25

27 Hugh Young Neville Miles Was an investment manager with Fidelity International and MGM Assurance prior to joining what is now Aberdeen Asset Managers Limited in December He is the managing director of Aberdeen Asset Management Asia Limited, responsible for all investment in the Far East. He is also a director of the Investment Manager and a number of Investment Trusts. Is the Executive of Ballyshaw Pty Ltd, based in Sydney. He has a breadth of international investment banking experience having worked for UAL Merchant Bank Ltd, Westpac banking Corporation and Ord Minnett Securities Ltd. He has several non-executive directorships. BOARD OF DIRECTORS OF RBS (LUXEMBOURG) S.A. Peter Craft (Chairman) Managing Director of Trust and Depositary Services 30 years securities industry experience with RBS (unit trusts, private trusts and personal taxation). Matthias Maertens Alisdair Stewart Thierry Logier Dr Christian Szylar Véronique Gillet Henry Kelly Managing Director 14 years experience in various legal, compliance, tax and managerial banking and investment fund functions. Previous employers include Cedel, Citibank, Fidelity and Credit Suisse Asset Management. Director, 35 years financial services industry experience (corporate and retail banking, asset finance, venture capital and securities services). Director, Head of Sales and Marketing over 20 years experience within the financial industry (corporate banking, project financing, private banking and investor services). Previous employers include Credit Agricole Investor Services, State Street Bank and Euroclear. Director, Head of Audit and Fund Compliance 10 years of internal auditing at corporate level, risk management and compliance experiences in various environments. Director, Head of Operations over 16 years of fund administration experience (fund accounting, transfer agency, legal and compliance) in Luxembourg. Previous employers include Deloitte, Credit Lyonnais, Bisys, and Credit Agricole Investor Services. Director (Non-Executive) over 20 years experience within the financial industry. After having worked for PWC and Fleming, Henry set up his own consultancy servicing company operating in the financial sector, in particular in the pan-european investment funds arena. SHAREHOLDER SERVICE CENTRE DOMICILIARY AGENT, REGISTRAR, PAYING, LISTING AND TRANSFER AGENT State Street Bank Luxembourg S.A. 49, avenue J. F. Kennedy L-1855 Luxembourg Grand Duchy of Luxembourg Tel: (352) (shareholders outside UK) Fax: (352) ADMINISTRATOR BNP Paribas Fund Services 33, rue de Gasperich Howald-Hesperange L-2085 Luxembourg Grand Duchy of Luxembourg 26

28 GLOBAL DISTRIBUTOR and INVESTMENT MANAGER: Aberdeen International Fund Managers Limited Rooms th Floor Alexandra House 18 Chater Road Central Hong Kong Tel: (852) Fax: (852) LEGAL ADVISER AS TO MATTERS OF HONG KONG LAW Deacons, 5 th Floor, Alexandra House, 18 Chater Road, Central, Hong Kong. CUSTODIAN: BNP Paribas Securities Services, Luxembourg Branch, 33, rue de Gasperich Howald-Hesperange L-2085 Luxembourg Grand Duchy of Luxembourg. AUDITORS: KPMG Audit, 31 Allée Scheffer, L Luxembourg, Grand Duchy of Luxembourg. DATA PROCESSING AGENT International Financial Data Services Limited and International Financial Data Services (UK) Limited St. Nicholas Lane Basildon Essex SS15 5FS MANAGEMENT COMPANY RBS (Luxembourg) S.A. 33, rue de Gasperich L-5826 Hesperich Grand Duchy of Luxembourg INVESTMENT ADVISERS: The day to day investment management decisions of the Funds as indicated below have been delegated by the Investment Manager to the following Investment Advisers: ABERDEEN ASSET MANAGERS LIMITED, One Bow Churchyard, London, EC4M 9HH UK, authorised and regulated by the Financial Services Authority. Aberdeen Global American Opportunities Fund Aberdeen Global Emerging Markets Fund (excluding Asian assets) Aberdeen Global Emerging Markets Smaller Companies Fund (excluding Asian assets) Aberdeen Global Ethical Engagement World Equity Fund Aberdeen Global European Equity Fund Aberdeen Global European High Yield Bond Fund Aberdeen Global European Opportunities (Ex UK) Fund Aberdeen Global Fixed Interest Opportunities Fund Aberdeen Global High Yield Bond Fund Aberdeen Global Sovereign High Yield Bond Fund (to be renamed Aberdeen Global Emerging Markets Bond Fund with effect from 30 March 2007) Aberdeen Global Sterling Corporate Bond Fund Aberdeen Global Sterling Financials Bond Fund Aberdeen Global Technology Fund Aberdeen Global UK Opportunities Fund Aberdeen Global World Bond Fund 27

29 Aberdeen Global World Equity Fund Aberdeen Global Worldwide Smaller Companies Fund ABERDEEN ASSET MANAGEMENT ASIA LIMITED, 21 Church Street, #01-01 Capital Square Two, Singapore Aberdeen Global Asia Pacific Fund Aberdeen Global Asia Pacific and Australasian Bond Fund Aberdeen Global Asia Pacific and Japan Fund Aberdeen Global Asian Smaller Companies Fund Aberdeen Global Australasian Equity Fund Aberdeen Global China Opportunities Fund Aberdeen Global Emerging Markets Fund (Asian asset only) Aberdeen Global Emerging Markets Smaller Companies Fund (Asian assets only) Aberdeen Global India Opportunities Fund Aberdeen Global Japan Smaller Companies Fund Aberdeen Global Japanese Equity Fund Attachment: APPLICATION FORM - ABERDEEN GLOBAL 28

30 Appendix A - Investment Restrictions 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 an EU Member State or not, provided that: - such other UCIs have been authorised under the laws of any Member State of the EU or under the laws of Canada, Hong Kong, Japan, Norway, Switzerland or the United States of America, - 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 assets segregation, borrowing, lending, and uncovered sales of Transferable Securities and Money Market Instruments are equivalent to the requirements of directive 85/611/EEC, 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 that 12 months, provided that the credit institution has its registered office in a country which is an OECD member state and a FATF State; 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 section (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 are themselves 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 an EU Member State, the European Central Bank, the EU or the European Investment Bank, a non-eu 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 EU Member States belong, or - issued by an undertaking any securities of which are dealt in on Regulated Markets, or - issued or guaranteed by a credit institution which has its registered office in a country which is an OECD member state and a FATF State, or - 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. 29

31 (2) 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 (I) 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 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 an EU Member State, its local authorities, or by another Eligible State or by public international bodies of which one or more EU 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 of the EU 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 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). 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 of the EU, by its local authorities or agencies, or by another member State of the OECD or by public international bodies of which one or more Member States of the EU 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. IV. a) 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 an/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. 30

32 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 of the EU or its local authorities or by any other Eligible State, or issued by public international bodies of which one or more Member States of the EU 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 of the EU 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 paragraph III., V. and VI. a), b), c) and d). VI. a) Aberdeen Global may acquire units of the UCITS and/or other UCIs referred to in paragraph (I) c), 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. b) 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. c) 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, 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 UCIs. In respect of a Fund's investments in UCITS and other UCIs, the total management fee (excluding any performance fee, if any) charged both to such Fund and the UCITS and/or other UCIs concerned shall not exceed 4% of the relevant assets. 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. d) 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. VII. Aberdeen Global shall ensure for each Fund that the global exposure relating to 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. 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 VII. VIII. 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. 31

33 This restriction shall not prevent Aberdeen Global from (i) acquiring Transferable Securities, Money Market Instruments or other financial instruments referred to in (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 instruments. d) Aberdeen Global may not acquire movable or immovable property. e) Aberdeen Global may not acquire either precious metals or certificates representing them. IX. 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. INVESTMENT TECHNIQUES AND INSTRUMENTS Aberdeen Global may, for the purpose of efficient management of its assets under the conditions and within the limits laid down by law, regulation and administrative practice and as described below, employ techniques and instruments described below. (a) Options on Transferable Securities Aberdeen Global will only purchase and sell call and put options on securities, if they are traded on a regulated market, which operates regularly and is recognised and open to the public. At the time of selling call options on securities, Aberdeen Global will hold either the underlying securities or equivalent call options or other instruments, such as warrants, which can adequately cover the liabilities arising therefrom. Such underlying securities, options or instruments covering call options sold by Aberdeen Global will not be realised as long as the options sold by Aberdeen Global have not expired or are otherwise covered as aforesaid. Notwithstanding the foregoing, Aberdeen Global may sell uncovered call options if the exercise price of all such options does not exceed 25% of the Net Asset Value of the relevant Fund and the relevant Fund is at all times able to cover the resulting open position. When a put option is sold, Aberdeen Global will, for the full duration of the option, maintain liquid resources sufficient to pay for the securities deliverable to it on the exercise of the option by the counterparty. (b) Futures, Swaps and Options on Indices Aberdeen Global will only deal in financial futures if they are traded on a regulated market which operates regularly and is recognised and open to the public. As a global hedge against the risks of unfavourable stock market movements, Aberdeen Global may buy or sell futures or options on stock market indices, provided there exists in each case a sufficient correlation between the composition of the index used and the composition of the relevant Fund. However, the aggregate liability of any Fund in respect of such futures and options will not exceed the aggregate value of securities held by the relevant Fund in the market corresponding to each index. Aberdeen Global may also deal in financial futures in order to protect the value of debt securities held by any Fund against interest rate risk and, as a global hedge against interest rate fluctuations, Aberdeen Global may sell interest rate futures contracts or call options, buy put options or enter into interest rate swaps with first class financial institutions specialised in the relevant type of transaction. However, the aggregate liability of any Fund in respect of such contracts, options and swaps will not exceed the aggregate value of its assets being hedged, expressed in the currency of such liabilities. In addition, Aberdeen Global may, for a purpose other than hedging, buy and sell futures and option contracts on any type of financial instruments, provided that the aggregate liability of any Fund in respect of such transactions and in respect of the sale of put and uncovered call options referred to in (a) above at no time exceeds the Net Asset Value of the relevant Fund. The liability of any Fund in respect of futures contracts shall be calculated by reference to the net liquidation value of these and any other contracts relating to similar financial instruments, after netting between purchase and sale positions but without taking into account the respective maturities of the contracts. 32

34 (c) (d) (e) General The aggregate premiums paid by any Fund to acquire any outstanding options of the type referred to in (a) above and to acquire options on warrants and other financial futures may not exceed 15% of the Net Asset Value of the relevant Fund. The aggregate liability of any Fund arising from the sale of put and uncovered call options, from dealing in financial futures and from transactions, as described in (b) above, undertaken for purposes other than hedging may not at any time exceed the Net Asset Value of the relevant Fund. Hedging Exchange Risks Aberdeen Global may sell currency forward or call options on currencies or purchase put options on currencies by means of contracts which are dealt in on a regulated market which is operating regularly, recognised and open to the public or, in the case of selling currency forward by means of contracts with first class financial institutions specialising in that type of transaction. Aberdeen Global will enter into such contracts only to hedge against exchange risks and provided that the value of such contracts does not exceed the total value of the relevant Fund s assets denominated in the currency of such contracts. The duration of such contracts will not normally exceed the period for which the relevant assets are to be held. Lending of Portfolio Securities Aberdeen Global may participate in securities lending transactions only in the framework of a standardised lending system organised by a recognised security clearing body such as Clearstream or Euroclear or by a highly rated financial institution specialised in these type of transactions. 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. 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. (f) Repurchase Agreements Each Fund may invest in securities subject to Repurchase Agreements concluded with high quality financial institutions specialised in this type of transactions. Under such agreements, the seller agrees with the Fund, upon entering into the contract, to repurchase the securities at a mutually agreed upon time and price, thereby determining the yield during the time of the agreement. This investment technique permits the Fund to earn a fixed rate of return isolated from market fluctuations during such period. During the lifetime of a repurchase agreement, Aberdeen Global 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. Incremental income from the use of Repurchase Agreements and Securities Lending Agreements will accrue to the respective Funds. 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 of the relevant Fund will employ, if applicable, a process for accurate and independent assessment of the value of any OTC derivative instrument. 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. 33

35 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) all cash in hand or on, or instructed to be placed on, deposit, including any interest accrued or to be accrued thereon; (ii) 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) all loans, bills and accounts payable; (ii) 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 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 hedge currency exposure on the hedged Share Classes will be allocated to the appropriate hedged 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; (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; 34

36 (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 be valued at their last available net asset value reduced by any applicable charges; and (6) 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) 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 to reflect any dealing charges / dilution levy (which shall include any expenses 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 / dilution levy will reflect costs and liabilities not included in the calculation of the Net Asset Value of the relevant Class. The dealing charges / dilution levy shall not exceed 1.5% of the Net Asset Value of the relevant Class on the Dealing Day in question. The Board of Directors current policy is normally to impose a dealing charge / dilution levy 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% in value (calculated by reference to their current price) 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. The dealing charges / dilution levy may also be charged in any other case where the Board of Directors is of the opinion that the interests of shareholders require imposition of a dealing charge / dilution levy If charged the dealing charges / dilution levy will be paid into the relevant Fund and become part of the relevant Fund. The Share Price of certain Funds may be rounded to up to four decimal places in the currency of denomination. It is the intention of the Board of Directors to price the Shares of certain Funds up to four decimal places in the currency of denomination in the next six months. In all cases, transaction values may be rounded to up to four decimal places in the currency of denomination. The Net Asset Value of Class A, Class B, Class D, Class I and Class Z, and the hedged Shares in the same Fund may differ as a result of the differing charging structures and hedging policy applicable to each Class. (3) CALCULATION OF SWITCHING PRICES Holders of Shares in a Fund will be entitled to switch some or all of their shareholdings into Shares of the same Class in another Fund, by giving notice to the Transfer Agent, in accordance with the procedure set out on page 21. The basis of the switch is related to the respective Share Prices of the two Funds 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 where A is the number of Shares in the new Fund to which the shareholder shall become entitled; B is the number of Shares in the original Fund which the shareholder has requested to be switched; C is the Share Price of a Share in the original Fund; D is the switching charge (if any) payable per Share; E when the original Fund and the new Fund are not designated in the same currency, is the currency conversion rate provided to the Transfer Agent by a reputable bank on the relevant Dealing Day as representing the effective rate of exchange applicable to the transfer of assets between the relevant portfolios after adjusting such rate to reflect the effective costs of making such transfer and, in any other case, is 1; and F is the Share Price of a Share in the new Fund. Fractions of one-thousandth of a Share will be issued on switching. 35

37 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 amended on 21 March 1988, 19 December 1988, 12 October 1989, 9 April 1991, 16 April 1993, 2 January 1996, 28 December 1998 and 23 January 2006, as published in the Luxembourg Mémorial on 8 April 1988, 14 April 1989, 5 December 1989, 31May 1991, 1 June 1993, 30 January 1996, 25 February 1999, 10 September 2001 and 17 February 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 of Registered Office Aberdeen Global s registered office is 49 Avenue J. 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 133 of the Law of 2002, 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 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. (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. (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. 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. 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. 36

38 (ii) If Aberdeen Global is to be voluntarily liquidated, its liquidation will be carried out in accordance with the provisions of the Luxembourg law relating to collective investment undertakings 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 A ( ), Class A ( ), Class A ($), Class B, Class D, Class I, Class I ( ), Class I ( ), Class I ($), Class Z, Class Z ( ), Class Z ( ) and Class Z ($) Shares. 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 holders of Shares of that Fund by a simple majority of the holders of the relevant Shares present or represented and voting. (iii) Termination and Amalgamation of Funds by decision of special Class meetings. Termination of a Fund by compulsory redemption of all relevant shares or its merger with another Fund of Aberdeen Global or with another Luxembourg UCITS, in each case for reason other than those mentioned in 7 (a) (1) below, may be effected only upon its prior approval of the shareholders of the Fund to be terminated or merged, at a duly convened Fund meeting which may be validly held without a quorum and decided by a simple majority of the shares present or represented. A merger so decided by the Board of Directors or approved by the shareholders of the affected Class will be binding on the holders of shares of the relevant Fund upon 30 days prior notice given to them, during which period shareholders may redeem their shares without redemption charge. (iv) Subject to the Articles of Incorporation, the 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 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 there is more than one Class of Shares and the resolution of the general meeting is such as to change the respective rights thereof, the resolution must, in order to be valid fulfil the conditions as to attendance and majority provided for by article 11 of the Articles of Incorporation. 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 qualify. Directors may resign or be removed or replaced at any time 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 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 37

39 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. 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 Luxembourg law the Directors must submit the question of dissolution of Aberdeen Global to a General Meeting, acting without minimum quorum requirements, by a simple majority vote of the Shares represented at the General 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 Luxembourg law, the Directors must submit the question of dissolution of Aberdeen Global to a General Meeting, acting without minimum quorum requirements, by a vote of one-quarter of the Shares represented at the General 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 one 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 interest 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, or may, merge that Fund with another Fund of Aberdeen Global or with another Luxembourg UCITS. 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 a same Fund or 10% 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 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 auditor. (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. 10. Suspension Suspension of the Calculation of the Net Asset Value and Allotment, Issue, 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; 38

40 (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) 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 (f) if Aberdeen Global is being or may be wound-up, on or following the date on which notice is given of the General Meeting at which a resolution to wind-up Aberdeen Global is to be proposed. 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. 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 together with, if issued, the relevant Share Certificate(s). 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 or to increase the fees payable to any company appointed by the Directors to act as the custodian of the assets of Aberdeen Global a resolution must be passed by a majority consisting of two thirds of the votes of those present and voting. Any resolution to be voted upon in any meeting may be decided on a show of hands unless, when or before the result of the show of hands is declared, a poll is demanded by the chairman of the meeting or by one or more shareholders holding in the aggregate 5% of the outstanding Shares of Aberdeen Global. If a poll is duly demanded it shall be taken in such manner as the chairman of the meeting may direct. 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: (a) shareholders may be represented by proxies appointed in writing; (b) votes shall be proportionate to the number of Shares held by the person participating in the vote and, in the event shareholders are dissatisfied with a show of hands, there shall be a ballot vote; (c) the quorum and majorities shall be as laid down by Luxembourg law; (d) if, within half an hour from the time appointed for the meeting a quorum is not present, the meeting shall be adjourned and, at a new special meeting called in accordance with Luxembourg law, the quorum shall be those persons present in person or by proxy and the amendments proposed may be approved as provided in this paragraph; (e) 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 (f) 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. 39

41 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 its 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 by it so as to update the share register and enable the Transfer Agent to send a Share confirmation or Certificate (if requested) 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 revert to Aberdeen Global absolutely at the end of five years. 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. (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 Mauritian 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 Prospectus. (7) None of the Directors of Aberdeen Global nor any of their families has an interest in the share capital of Aberdeen Global which would be required to be shown in the Register under Sections 324 and 327 of the Companies Act 1985 of Great Britain if Aberdeen Global were subject to the provisions of that Act. (8) The Articles of Incorporation provide that the following jurisdictions shall be Eligible States; all member states of the OECD and all other countries of Europe, North and South America, Africa, Asia and Australasia. (9) 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. (10) From time to time, the Investment Manager, the Investment Advisers or any of their respective 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 not include travel, accommodation, entertainment, general administrative goods or services, general office equipment or premises, membership fees, employee salaries or direct money payments. (11) 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. 40

42 Appendix D Share Classes and Dividends Details of the base currency, Share Classes and dividends details for each of the Funds of Aberdeen Global are detailed below. Share Class Definitions Class A Shares net investment income distribution Shares (Class A-1 Shares) and net accumulation Shares (Class A-2 Shares) in the base currency of the Fund Class B Shares dividends declared in respect of Class B-1 Shares and Class B-2 Shares will be distributed in cash. Class B Shares have been closed to new business since 1 March Class D Shares net investment income distribution Shares (Class D-1 Shares) and net accumulation Shares (Class D-2 Shares) denominated in Sterling in respect of which the Directors intend to apply for distributor status. Class I Shares net investment income distribution Shares (Class I-1 Shares) and net accumulation Shares (Class I-2 Shares) in the base currency of the Fund. These Classes of Shares are accessible by Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. Class Z Shares net investment income distribution Shares (Class Z-1 Shares) and net accumulation Shares (Class Z-2 Shares) in the base currency of the Fund. These Classes of Shares are accessible by Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. Class A, Class I and Class Z Shares may also be made available in Euro, Sterling and US Dollar hedged versions. These hedged Share Classes will have the same characteristics as the underlying Class of Shares. Minimum Investment Limits Class A and D Shares - the minimum Investment Amount for any initial or subsequent investment in a Fund is US$1,500 or currency equivalent. Class I 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 investment limits for the currency hedged Share Classes are the same as that of the underlying Share Class. These minima may be waived at Aberdeen Global s discretion. Dividend Details: Subject to income being available for distribution, Class A-1, Class B -1, Class D-1, Class D -2, Class I -1 and Class Z-1 Shares will issue a dividend. Dividend of net investment income of Class D-2 Shares declared will be accumulated within the share price on this class of Shares on an annual basis. Class A-2, Class B 2, Class I-2 and Class Z-2 Shares will not issue a dividend. The dividend policy for the currency hedged Share Classes are the same as that of the underlying Share Class. The Board of Directors reserves the right to increase or decrease the frequency of dividend payments at their discretion: Fund Base Currencies and Share Classes in Issue Name of Fund Fund Base Share Classes in Issue* Currency Aberdeen Global American Opportunities US Dollars US Dollar Class A-2 Shares Fund US Dollar Class B-2 Shares Sterling Class D-2 Shares Aberdeen Global Asia Pacific Fund US Dollars US Dollar Class A-2 Shares US Dollar Class B-2 Shares Sterling Class D-2 Shares US Dollar Class I-2 Shares Aberdeen Global Asia Pacific and Japan Fund US Dollars This Fund has not been launched as at the date of this Prospectus. 41

43 Aberdeen Global Asia Pacific and Australasian Bond Fund Aberdeen Global Asian Smaller Companies Fund US Dollars US Dollar Class A-1 Shares US Dollar Class A-2 Shares US Dollar Class B-1 Shares US Dollar Class B-2 Shares US Dollars US Dollar Class A-2 Shares Sterling Class D-2 Shares US Dollar Class I-2 Shares Aberdeen Global Australasian Equity Fund Australian Dollars AUS $ Class A-2 Shares AUS $ Class B-2 Shares Aberdeen Global China Opportunities Fund US Dollars US Dollar Class A-2 Shares Sterling Class D-2 Shares. US Dollar Class I-2 Shares Aberdeen Global Emerging Markets Fund US Dollars US Dollar Class A-2 Shares US Dollar Class B-2 Shares Sterling Class D-2 Shares US Dollar Class I-2 Shares Aberdeen Global Emerging Markets Smaller Companies Fund Aberdeen Global Ethical Engagement World Equity Fund US Dollars US Dollars This Fund has not been launched as at the date of this Prospectus. This Fund has not been launched as at the date of this Prospectus. Aberdeen Global European Equity Fund Euro Euro Class A-2 Shares Euro Class B-2 Shares Aberdeen Global European High Yield Bond Fund Aberdeen Global European Opportunities (Ex UK) Fund Euro Euro Class A-1 Shares Euro Class A-2 Shares Euro Class B-1 Shares Euro Class B-2 Shares Sterling Class D-1 Shares Euro Euro Class A-2 Shares Sterling Class D-2 Shares 42

44 Aberdeen Global Fixed Interest Sterling Sterling Class D-1 Shares Opportunities Fund Aberdeen Global High Yield Bond Fund Sterling Sterling Class D-1 Shares Aberdeen Global India Opportunities Fund US Dollar US Dollar Class A-2 Shares Sterling Class D-2 Shares US Dollar Class I-2 Shares Aberdeen Global Japan Smaller Companies Fund Japanese Yen This Fund has not been launched as at the date of this Prospectus. Aberdeen Global Japanese Equity Fund Japanese Yen Yen Class A-2 Shares Yen Class B-2 Shares Aberdeen Global-Sovereign High Yield Bond Fund (to be renamed Aberdeen Global Emerging Markets Bond Fund with effect from 30 March 2007) US Dollars US Dollar Class A-1 Shares US Dollar Class A-2 Shares US Dollar Class B-1 Shares US Dollar Class B-2 Shares Aberdeen Global Sterling Corporate Bond Sterling Sterling Class D-1 Shares Fund Aberdeen Global Sterling Financials Bond Sterling Sterling Class A-2 Shares Fund Aberdeen Global Technology Fund US Dollars US Dollar Class A-2 Shares US Dollar Class B-2 Shares Sterling Class D-2 Shares Aberdeen Global UK Opportunities Fund Sterling Sterling Class A-2 Shares Sterling Class B-2 Shares Sterling Class D-1 Shares Aberdeen Global World Bond Fund Sterling Sterling Class D-1 Shares Aberdeen Global World Equity Fund US Dollars US Dollar Class A-2 Shares US Dollar Class B-2 Shares Sterling Class D-2 Shares Aberdeen Global Worldwide Smaller Companies Fund US Dollars This Fund has not been launched as at the date of this Prospectus. * The above table provides details of the Share Classes of the Funds as at the date of this Summary Prospectus. However, investors should note that at the date of this Summary Prospectus, certain Share Classes for certain Funds and the hedged versions of Class A, Class I and Class Z Shares may not be in issue. For up to date details of the Share Classes in issue for each Fund, please refer to 43

45 Appendix E - Initial Charges and Management Fees Initial Charges The current initial charge currently applied for investment into Class A and Class D Shares is 5%. This charge is purely indicative and is subject to an increase of up to the maximum initial charge provided for in the Summary Prospectus. The hedged versions of Class A Shares have the same initial charge as the underlying Class of Share. Currently, no initial charge is charged for investment into Class I or Class Z Shares and their hedged versions. Class B Shares were closed to new subscriptions with effect from 28 February Contingent Deferred Sales Charge This charge only applies in respect of the Class B Shares which remain in issue. The proceeds of any redemption of Class B Shares by a shareholder during the first four years after purchase, will be reduced in accordance with the following percentage scale. This represents a reducing contingent deferred sales charge liability for Class B shareholders. The scale is as follows: Year of Redemption Contingent Deferred Sales Charge as a Percentage of Relevant Share Price Within 1 year of purchase 4.0% After 1 year but within 2 years of purchase 3.0% After 2 years but within 3 years of purchase 2.0% After 3 years but within 4 years of purchase 1.0% After 4 years of purchase None The contingent deferred sales charge is calculated as a percentage of the lesser of the relevant Share Price (as defined in the Prospectus) on the date of redemption and the date of issue. 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 B Shares first being redeemed are those Shares issued through dividend reinvestment (if any) and, after that, those which have been held by the shareholder for the longest period of time. Management Fees (% of Net Asset Value) Fund Name Class A*, Class B** Class I Shares*** Class Z Shares**** and Class D Shares Aberdeen Global American Opportunities Fund Aberdeen Global Asia Pacific Fund Aberdeen Global Asia Pacific and Australasian Bond Fund Aberdeen Global Asia Pacific and Japan Fund Aberdeen Global Asian Smaller Companies Fund Aberdeen Global Australasian Equity Fund Aberdeen Global China Opportunities Fund Aberdeen Global Emerging Markets Fund Aberdeen Global - Sovereign High Yield Bond Fund (to be renamed Aberdeen Global Emerging Markets Bond Fund with effect from 30 March 2007) Aberdeen Global Emerging Markets Smaller Companies Fund

46 Aberdeen Global Ethical Engagement World Equity Fund Aberdeen Global European Equity Fund Aberdeen Global European High Yield Bond Fund Aberdeen Global European Opportunities (Ex UK) Fund Aberdeen Global Fixed Interest Opportunities Fund Aberdeen Global High Yield Bond Fund Aberdeen Global India Opportunities Fund Aberdeen Global Japan Smaller Companies Fund Aberdeen Global Japanese Equity Fund Aberdeen Global Sterling Corporate Bond Fund ***** Aberdeen Global Sterling Financials Bond Fund Aberdeen Global Technology Fund Aberdeen Global UK Opportunities Fund Aberdeen Global World Bond Fund ***** Aberdeen Global World Equity Fund Aberdeen Global Worldwide Smaller Companies Fund Note: * The hedged versions of Class A Shares will bear the same management charge as the underlying Class A Share for the relevant Fund. ** Class B Shares were closed to new subscription with effect from 1 March *** Class I Shares are only accessible by Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. The Euro, Sterling and US Dollar hedged versions of Class I Shares will bear the same management charge as the underlying Class I Share for the relevant Fund. **** Class Z Shares are only accessible by Institutional Investors who enter into a suitable agreement with the Investment Manager or one of its Associates. The Euro, Sterling and US Dollar hedged versions of Class Z Shares will bear the same management charge as the underlying Class Z Share for the relevant Fund. ***** For Aberdeen Global - Sterling Corporate Bond Fund, with effect from 1 January 2007, the investment management fees for Class A and Class D Shares was reduced from 1.25% of the Net Asset Value (as defined in the Summary Prospectus) to 1.00% and for Class I Shares from 0.75% to 0.50%. For Aberdeen Global - World Bond Fund, with effect from 1 January 2007, the investment management fees for Class A and Class D Shares was reduced from 1.25% of the Net Asset Value (as defined in the Summary Prospectus) to 0.90% and for Class I Shares from 0.75% to 0.40%. 45

47 Appendix F Investment through the Mauritian Subsidiary 1. Investment through the Mauritian Subsidiary It is not the intention to hold directly investments in India made for the Aberdeen Global India Opportunities Fund. Instead, Aberdeen Global will hold investments through Aberdeen Global India Opportunities Fund (Mauritius) Limited (formerly Aberdeen International India Opportunities Fund (Mauritius) Limited) (the Mauritian Subsidiary ), its wholly-owned subsidiary company. The Mauritian Subsidiary will hold all of the India Opportunities Fund s investments in India. The Custodian holds the assets and shares of the Mauritian Subsidiary. Mauritius is a widely used jurisdiction for investing on a collective basis into India. Hence it has developed an infrastructure to support such vehicles encompassing the full range of administration services. The Mauritian Subsidiary was established to benefit from such infrastructure in a time zone which is in between that of India and Luxembourg. Further, it is expected that the Mauritian Subsidiary should be governed by the provisions of the India- Mauritius Double Tax Avoidance Treaty. If it is no longer beneficial to invest indirectly through the Mauritian Subsidiary, Aberdeen Global India Opportunities Fund may elect to invest directly in India. Aberdeen Global India Opportunities Fund (Mauritius) Limited was incorporated on 13 September 1996 as a limited liability company under the Companies Act 1984 and is registered as an Offshore Company under the Mauritius Offshore Business Activities Act 1992 with ordinary status. The Mauritian Subsidiary is a wholly owned subsidiary of Aberdeen Global. The Mauritian Subsidiary has been granted approval by the Securities and Exchange Board of India ( SEBI ) as a sub-account of Aberdeen Asset Managers Limited. Aberdeen Asset Managers Limited is registered with SEBI as an FII. Aberdeen Global India Opportunities Fund is authorised to invest only in accordance with the investment objective, policies and restrictions set out in this Prospectus. Aberdeen Global India Opportunities Fund will advance monies to the Mauritian 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 India Opportunities Fund and the Mauritian 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. 2. Mauritian Subsidiary The operations of the Mauritian Subsidiary will be carried on under the supervision and direction of the board of directors of the Mauritian Subsidiary which will also be responsible for the monitoring of the Mauritian Subsidiary s investments and performance and for providing advisory services to the exclusive benefit of Aberdeen Global, including in relation to massive redemptions in the sub-fund. The investment policy of the Mauritian Subsidiary will be the same as that of the India Opportunities Fund as set out on page 5. The board of directors of the Mauritian Subsidiary comprises individuals with extensive experience in financial markets. The board of directors of the Mauritian Subsidiary will comprise at least two locally resident Mauritius directors. Two directors who are present in Mauritius will be required for a quorum of the Mauritian Subsidiary. The directors of Aberdeen Global form the majority on the board of the Mauritian Subsidiary. The board of directors of the Mauritian Subsidiary will meet at least twice each year in Mauritius; the first to approve halfyearly accounts of the Mauritian Subsidiary and the second to approve the annual accounts. Any other matters of strategic importance to the Mauritian Subsidiary will also be considered at such board meetings. At the regular board meetings, the directors of the Mauritian Subsidiary will review the investment performance of the Mauritian Subsidiary and, in conjunction with the Investment Adviser, develop investment strategies for the following halfyearly period. The board will, inter-alia, confirm allotment of shares, approve the use of the company seal, determine the date and venue of the Annual General Meeting of the shareholders of the Mauritian Subsidiary and instruct the company secretary to make appropriate arrangements. The board will ensure that appropriate agreements/contracts are executed with the different agencies that will provide services to the Mauritian Subsidiary. The board of the Mauritian Subsidiary will review any non-routine operational matters and will expect to be advised by its legal advisers, auditors and administrators on any changes in the regulatory and tax environment which may impact on the Mauritian Subsidiary. Other board meetings of the Mauritian Subsidiary, which are of a more routine nature, may be conducted by telephone conference call, with at least two resident directors present in Mauritius. Such meetings will be chaired from Mauritius. 46

48 The Mauritian Subsidiary will: provide the Mauritius Offshore Business Activities Authority ( MOBAA ) with this Prospectus, the Memorandum and Articles of Association and other documents necessary to effect registration of the Mauritian Subsidiary as an offshore company, the investment plans and the operational agreements concerning the management, custodians, advisers and other participants in the Fund and the Mauritian Subsidiary and inform it of any substantial changes and modifications in the documents; provide MOBAA with a copy of any authorisation/permission/consent required from any supervisory body in relation to the conduct and implementation of the Mauritian Subsidiary; have its registered office in Mauritius; maintain its banking transactions through a bank account in Mauritius; hold its directors meetings in Mauritius; retain a company secretary resident in Mauritius; maintain a set of accounting records in Mauritius; cause its Net Asset Value calculation to be prepared and signed in Mauritius; provide MOBAA with reports on investment performance on a quarterly basis; provide a copy of its half-yearly unaudited accounts and its annual audited accounts to MOBAA; comply with such conditions as may from time to time be adopted and imposed in relation to investment funds, collective investment schemes and conduct of investment business; and in general, provide such other information as MOBAA may require from time to time. The use of the Mauritian Subsidiary and the tax treaty it is afforded is based on the law and practice which is currently in force in India and Mauritius as understood by the Directors after making reasonable enquiries. It is subject to any future changes and any such changes may adversely affect the returns of the India Opportunities Fund. This includes any circumstances where the India/Mauritius double taxation treaty may not apply or cases to be applied, as a result of, inter alia, any future ruling by the Indian tax authorities. The Indian Government has released an official statement confirming that Indian tax authorities should accept a registration certificate issued by the Mauritian Government as proof of an investor s residence. The Directors have been advised that so long as this remains the case the underlying portfolio of Indian investments should not be subject to Indian capital gains tax. Should this position change or the treaty not be applied, interest earned on securities listed on the Indian Stock Exchange (earned by the Mauritian Subsidiary being treated as a Foreign Institutional Investor) would be subject to tax at a rate of 20%. Capital gains on the disposal of such investments would be subject to tax and rates of 10% or 30% in respect of listed Indian Securities depending on the length of time the investment has been held. 3. Mauritian Administrator The Mauritian Subsidiary has appointed Multiconsult Limited, 10 Frere Felix De Valios Street, Port Louis, Mauritius, to act as administrator, secretary and registrar of the Mauritian Subsidiary. Multiconsult Limited is incorporated in Mauritius and is licensed by the MOBAA to provide, inter alia, company management services to offshore companies. 4. Directors of Mauritian Subsidiary The Directors of the Mauritian Subsidiary are as follows:- Mr G. Marshall (British) (see above for details). Martin Gilbert (British) (see above for details). Hugh Young (British) (see above for details). Mr U. Gujadhur (Mauritian) (date of birth: 1955) is a partner in De Chazal Du Mee and Manager of Multiconsult Limited. Mr Gujadhur is a Fellow of the Chartered Association of Certified Accountants and has extensive experience in auditing, especially in the banking and insurance sectors. Mr Yuvraj Kumar Juwaheer (Mauritian) (date of birth 1958) ioined Multiconsult in Mauritius in 1993 and became a partner in He qualified as an Associate Member of the Institute of Chartered Secretaries & Administrators in 1991 after gaining an LLB London in Agreements for the Mauritian Subsidiary Custodian Agreement between the Mauritian Subsidiary and BNP Paribas Securities Services, Luxembourg Branch dated 24 March 2006 under which the Custodian was appointed custodian of the Mauritian Subsidiary s assets. The agreement can be terminated on 3 months written notice. 47

49 Investment Advisory Agreement between the Mauritian Subsidiary and Aberdeen Asset Managers Limited dated 5 November 1996 whereby the Investment Adviser agrees to provide investment management services to the Mauritian Subsidiary. The Mauritian Subsidiary undertakes to indemnify the Investment Adviser against all actions, proceedings, claims, costs, demands and expenses which may be brought against, suffered or incurred by it in performance of its obligations, other than due to negligence, fraud, bad faith or wilful default. The Investment Adviser has sub-delegated the day-to-day investment decisions of the Mauritian subsidiary to Aberdeen Asset Management Asia Limited (see page 28 for details). Mauritian Administration Agreement between the Mauritian Subsidiary and the Mauritian Administrator dated 5 November 1996 whereby the latter agrees to provide registration, administrative and company secretarial services on behalf of the Mauritian Subsidiary. The Agreement can be terminated on 90 days written notice. The Mauritian Subsidiary undertakes to indemnify the Mauritian Administrator against all actions, proceedings, claims, costs, demands and expenses which may be brought against, suffered or incurred by it in performance of its obligations, other than due to negligence, fraud, bad faith or wilful default. Subscription Agreement between Aberdeen Global and the Mauritian Subsidiary dated, 5 November 1996, whereby the Company agrees to subscribe for shares in the Mauritian Subsidiary and the Mauritian Subsidiary agrees to allot and issue such shares to the Company. 48

50 Appendix G - Glossary of Terms This glossary is intended to help readers who may be unfamiliar with the terms used in this Summary Prospectus. It is not intended to give definitions for legal purposes. Application Form Articles of Incorporation Associate The application form attached to this Summary Prospectus. The articles of incorporation of Aberdeen Global. A company within the Aberdeen Asset Management PLC group of companies. Business Day A day on which banks in Luxembourg are open for business (24 December is not a Business Day). Board of Directors/Board Class(es) of Shares/Share Class(es)/ Classes Connected Person CSSF Dealing Day Directors Eligible Market Eligible State EU The board of directors of Aberdeen Global. Pursuant to the Articles of Incorporation, the Board of Directors may decide to issue, within each sub-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. Commission de Surveillance du Secteur Financier or its successor. With respect to any Fund, any Business Day other than days during a period of suspension of dealing in Shares in that Fund. Members of the Board. 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. European Union Institutional Investor An investor within the meaning of article 129 of the Law of Investment Amount Member State 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. A member state of the European Union. Money Market Instruments Instruments normally dealt in on the money market which are liquid, and have a value which can be accurately determined at any time. Net Asset Value 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. 49

51 Other UCIs Primarily Regulated Market SFC Share Price SRI Transferable Securities UCITS UK 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. In relation to the investment objectives of the Funds primarily shall mean that at least two thirds of the assets of the relevant Fund are directly invested in the currency, country, the type of security or other material element set out in the name of the fund and its investment objective. A market within the meaning of Article 1.13 of directive 93/22/EEC and any other market which is regulated, operates regularly and is recognised and open to the public in an Eligible State. Securities and Futures Commission or its successor. The price of a Share in any one of the Funds, this price being the Net Asset Value of that Share s Class divided by the number of Shares in issue in that Class, adjusted and calculated as described in Section 2 of Appendix B. Socially Responsible Investment. Shares and other securities equivalent to shares, bonds and other debt instruments, any other negotiable securities which carry the right to acquire any such transferable securities by subscription or exchange, excluding the techniques and instruments referred to in article 42 of the Law of An Undertaking for Collective Investment in Transferable Securities authorised pursuant to Council Directive 85/611/EEC, as amended. The United Kingdom 50

52 ABERDEEN GLOBAL SUPPLEMENT TO THE SUMMARY PROSPECTUS DATED MARCH 2007 IMPORTANT: If you are in any doubt about the contents of this document, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser. This supplement should be read together with the Summary Prospectus dated March 2007 for Aberdeen Global ( the Company ) and is authorised for distribution only when accompanied by the Summary Prospectus. New Share Classes Effective 25 April 2007, the following share classes will be offered in respect of the following sub-funds: US Dollar Class A-2 Shares will be available for Aberdeen Global - Asia Pacific and Japan Fund; US Dollar Class A-2 Shares, Sterling Class D-2 Shares and US Dollar Class I-2 Shares will be available for Aberdeen Global - Emerging Markets Smaller Companies Fund; Yen Class A-2 Shares, Sterling Class D-2 Shares and Yen Class I-2 Shares will be available for Aberdeen Global - Japan Smaller Companies Fund. Dated: 20 April 2007 Aberdeen International Fund Managers Limited Room , 26/F Alexandra House, 18 Chater Road, Central, Hong Kong Telephone: Fax:

53 Aberdeen Global Société d'investissement à capital variable 49, Avenue J.F. Kennedy, L-1855 Luxembourg R.C.S. Luxembourg No. B June 2007 IMPORTANT: This document requires your immediate attention. If you have any doubts regarding the contents of this letter and what action to take we recommend that you consult your usual financial adviser. Dear Shareholder ABERDEEN GLOBAL FIXED INTEREST OPPORTUNITIES FUND The Board of Directors has decided to close Aberdeen Global Fixed Interest Opportunities Fund (the "Fund") following notification of a large redemption which will reduce the Net Asset Value to significantly less than $10 million which is the wind-up threshold under Article 21 of the Articles of Incorporation. This requires shareholders to be given at least one months prior notice and accordingly, the Board of Directors intend to close the Fund on 10 July You may, of course, switch your investment to another sub-fund in the Aberdeen Global range or, redeem your shares if you wish. This may be undertaken free of any switch or redemption charges until 9 July Our goal is to minimise both the dealing costs and other miscellaneous expenses associated with the liquidation of the portfolio that will be borne by the Fund. Accordingly, the portfolio will be progressively liquidated in the period immediately preceding the closure, to minimise dealing costs. All of the other costs of the Fund s closure (including any audit and other miscellaneous costs) will be borne by the Promoter, Aberdeen Asset Managers Limited. This prevents shareholders who remain during this period having to bear a disproportionate share of these costs and expenses. During this period the Investment Adviser may also deem it necessary to deviate from the Investment Objective and the Fund may under-perform its benchmark as a result. Individual shareholders should seek independent advice on the consequences of the changes referred to in this letter. The Board of Directors of Aberdeen Global 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 has 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 import of such information. If you have any questions or would like any further information please contact us at our registered office or, alternatively, call Yours faithfully For and on behalf of the Board of Directors Aberdeen Global Aberdeen International Fund Managers Limited Room , 26/F Alexandra House, 18 Chater Road, Central, Hong Kong Telephone: Fax:

54 ABERDEEN GLOBAL THIS LETTER IS IMPORTANT AND REQUIRE YOUR IMMEDIATE ATTENTION. IF YOU ARE IN ANY DOUBT AS TO THE ACTION TO BE TAKEN, YOU SHOULD IMMEDIATELY CONSULT YOUR STOCKBROKER, BANK MANAGER, SOLICITOR OR ATTORNEY OR OTHER PROFESSIONAL ADVISOR. This letter should be read in conjunction with the enclosed notice dated 7 June Unless the context otherwise requires and except as varied or otherwise specified in this letter, words and expressions contained herein shall bear the same meaning as in the enclosed document. Dear Shareholder, ABERDEEN GLOBAL FIXED INTEREST OPPORTUNITIES FUND This cover letter contains information specific to Hong Kong shareholders. 8 June 2007 In addition to the information contained in the enclosed notice dated 7 June 2007, your Board of Directors would like to provide you with the following information relating to the proposed termination of Aberdeen Global Fixed Interest Opportunities Fund (the "Fund"). As at 31 May 2007, the Net Asset Value of the Fund is 24,769, and the total expense ratio of the Fund for the period ended 31 March 2007 is 1.54%. Based on the foregoing fund size, the large redemption mentioned in the enclosed notice represents approximately 81.44% of the Net Asset Value of the Fund. The estimated costs for all the proposed termination are 30,000 which will be born by the Promoter. Hong Kong investors in the Fund may, of course, switch your investment to another sub-fund in the Aberdeen Global range authorised for sale in Hong Kong or, redeem your shares if you wish. This may be undertaken free of any switch or redemption charges until 9 July In respect of shares redeemed by 9 July 2007, the proceeds will be payable as provided for in the Summary Prospectus of Aberdeen Global. Shareholders whether or not resident in Hong Kong will not be liable for Hong Kong tax in respect of any income or gains made on the issue, redemption, conversion or other disposal in Hong Kong of shares, save that persons carrying on in Hong Kong a business of trading securities may be subject to Hong Kong profits tax if those gains form part of such business. If you have any questions regarding this letter or its enclosures, please contact Aberdeen International Fund Managers Limited whose office is at Rooms , 18 Chater Road, 26 th Floor Alexandra House, Central, Hong Kong, Tel The Board of Directors of Aberdeen Global accepts responsibility for the accuracy of the contents of this letter. Yours faithfully, The Board of Directors Aberdeen International Fund Managers Limited Room , 26/F Alexandra House, 18 Chater Road, Central, Hong Kong Telephone: Fax:

55 安本環球基金 於 2007 年 3 月刊發之招股說明書摘要之補編 重要聲明 : 如閣下對本文件的內容有任何疑問, 應諮詢閣下的股票經紀 銀行經理 律師 會計師或其他財務顧問 本補編應與安本環球基金 ( 本公司 ) 於 2007 年 3 月刊發的招股說明書摘要一併閱讀, 並且必須連同招股說明書摘要方獲准派發 新股份類別 由 2007 年 4 月 25 日起, 下列子基金將提呈發售以下股份類別 : 安本環球 亞太及日本基金將備有美元 A-2 類股份可供認購 ; 安本環球 新興市場小型公司基金將備有美元 A-2 類股份 英鎊 D-2 類股份及美元 I-2 類股份可供認購 ; 安本環球 日本小型公司基金將備有日圓 A-2 類股份 英鎊 D-2 類股份及日圓 I-2 類股份可供認購 日期 :2007 年 4 月 20 日 Aberdeen International Fund Managers Limited Room , 26/F Alexandra House, 18 Chater Road, Central, Hong Kong Telephone: Fax: