Aberdeen Investment Funds ICVC - Aberdeen Asset Management

Investment Objectives, Policies and Other Details of the Funds continued
ABERDEEN UK SMALLER COMPANIES FUND (previously Aberdeen UK Emerging Companies Fund)
Investment objective and policy:
The investment objective of Aberdeen UK Smaller Companies Fund (previously Aberdeen UK Emerging Companies Fund) is to
provide capital growth, whilst not excluding the occurrence of income, from investment in smaller UK companies being companies
which are not included within the 200 largest UK companies at the time of purchase, in terms of market capitalisation.
Share classes in issue:
Share classes available for investment:
Income:
Initial issue of shares:
Please refer to Appendix III.
For up to date details of the share classes available for investment in this Fund, please
refer to www.aberdeen-asset.co.uk.
Income will be calculated six-monthly as at 31 January and 31 July (final), with the
appropriate distributions or allocations made within 3 months of these dates.
Shares were first issued pursuant to the conversion of an existing authorised unit trust,
Aberdeen UK Emerging Companies Unit Trust which was managed by Aberdeen Unit
Trust Managers Limited, on 17 June 2005.
Calendar Year Performance
Year to 31/12/10
%
Year to 31/12/09
%
Year to 31/12/08
%
Year to 29/12/07
%
Year to 29/12/06
%
33.17 45.35 -37.93 18.78 26.59
Source: Lipper. Basis: Total Return, NAV to NAV, UK Net Income Reinvested
The above performance figures are based on NAV to NAV prices. These performance figures are presented as a matter of historical
record. Performance is determined by many factors, not just the skill of the ACD or Investment Adviser, including the general
direction and volatility of markets and may not be repeatable. Past performance is not a guide to future rates of return. The latest
performance figures may be obtained from the ACD and at www.aberdeen-asset.co.uk.
Performance information is shown for a period of five years. The historical track record reflects that of Aberdeen UK Emerging
Companies Unit Trust since its investment objective mirrors that of the new fund. Long-term performance is based on Aberdeen UK
Emerging Companies Unit Trust launched 1 April 1993.
Risk warnings appropriate to the Aberdeen UK Smaller Companies Fund (previously Aberdeen UK Emerging Companies
Fund)
• The value of shares and the income from them can go down as well as up and you may get back less than the amount invested.
• Past performance is not a guide to the future.
• When cancellation rights apply and you exercise them, you may not get back the full amount invested if the share price falls
before written notice of the wish to cancel is received.
• The annual management charge for the Fund will be charged to the Fund’s income account. If insufficient income is generated
by the Fund to cover the charge, the balance will be deducted from the Fund’s capital and to that extent will constrain capital
growth.
• Derivatives may be used to hedge against various risks but may not be used for speculative purposes. The use of derivatives for
hedging in a rising market may restrict potential gains.
• Exposure to a single country market increases potential volatility.
• The fund invests in a small market sector and is likely to carry higher risk of loss than a more widely invested fund.
• Due to the specialist nature of its investments, the fund, at times, may experience difficulty in realising holdings.
• The Fund invests in smaller companies which may be riskier and less liquid than larger companies leading to increased potential
volatility.
32 Aberdeen Investment Funds ICVC Prospectus November 2011