Aberdeen UK OEIC Fund Range - Alliance Trust

Aberdeen UK OEIC Fund RangeSimplified ProspectusAugust 2011The Financial Services Authority (FSA) is the UK’s independent financial services regulator.It requires us, Aberdeen Unit Trust Managers Limited, to give you this important informationto help you decide whether the Aberdeen UK OEIC is right for you.

Contact DetailsWHAT ARE ABERDEEN’S CONTACT DETAILS?Aberdeen Unit Trust Managers Limited (The Manager)Freepost RLTZ-CKGZ-ESTAPO Box 9029ChelmsfordCM99 2WJInvestorsPlease contact our Customer Services DepartmentTelephone: 0845 300 2890Fax: 0870 888 3037E-mail: customer.services@aberdeen-asset.comWebsite: www.aberdeen-asset.co.uk/oeicFinancial AdvisersPlease contact our Broker DeskTelephone: 0800 592 487E-mail: broker.desk@aberdeen-asset.comDealing linesOEIC/ISA ApplicationsTel: 0800 833 580Fax: 0870 888 3036Telephone calls may be recorded.HOW DO I CONTACT THE FINANCIAL SERVICES AUTHORITY?Aberdeen Unit Trust Managers is authorised and regulated by the Financial Services Authority in the United Kingdom. The FSAcan be contacted at:25 The North Colonnade, Canary Wharf, London, E14 5HSFrom UK: 0845 606 1234 (local call rates)Website: www.fsa.gov.ukE-mail: consumer.queries@fsa.gov.ukEmail ServicesRegister to receive our latest fund manager presentations, market outlooks and Aberdeen’s monthly fund factsheets through ouremail services.Advisers can register at www.aberdeen-asset.co.uk/focalemail and individual investors can register at www.aberdeen-asset.co.uk/emailThis Simplified Prospectus is an important document which you should read and understand prior to making an investment. Please retain itfor future reference.

ContentsIntroduction 2What are the aims of the Aberdeen OEIC and the Aberdeen ISA? 3Important - Risk Factors 4Key Fund Data 6Questions and Answers 12Charges and Expenses 13How to Invest 16Additional Investor Information 18Fund Performance 19Aberdeen Investment Funds ICVC - Terms and Conditions 26Glossary 33Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 1

IntroductionSIMPLIFIED PROSPECTUSThis Simplified Prospectus contains key information for investors of the 24 sub-funds of the Aberdeen Investment Funds ICVC (“theAberdeen OEIC”). Full details of the Aberdeen OEIC are available in the Prospectus of the Aberdeen Investment Funds ICVC.For more information relating to these funds please contact your Financial Adviser, our Customer Services Department or visit our website.All documentation, including the Prospectus, annual or half-yearly report and accounts and application forms, are available from ourCustomer Services Department and our website. All contact details are listed inside the front cover.Unless otherwise defined, the terms in this Simplified Prospectus shall have the same meaning as in the Prospectus of Aberdeen InvestmentFunds ICVC.We offer private investors the opportunity to invest in Class A Shares of these funds directly or through an ‘ISA’.FUNDSThe following Funds are available:• Aberdeen American Equity Fund • Aberdeen Japan Growth Fund• Aberdeen Asia Pacific Fund • Aberdeen Latin American Equity Fund• Aberdeen Asia Pacific and Japan Fund • Aberdeen Managed Distribution Fund• Aberdeen Cash Fund 1 • Aberdeen Multi-Asset Fund• Aberdeen Corporate Bond Fund • Aberdeen Property Share Fund• Aberdeen Emerging Markets Fund • Aberdeen Responsible UK Equity Fund• Aberdeen Emerging Markets Bond Fund • Aberdeen UK Equity Fund• Aberdeen Ethical World Fund • Aberdeen UK Equity Income Fund• Aberdeen European Equity Fund • Aberdeen UK Mid-Cap Fund• Aberdeen European Frontiers Fund • Aberdeen UK Smaller Companies Fund• Aberdeen European Smaller Companies Fund • Aberdeen World Equity Fund• Aberdeen High Yield Bond Fund • Aberdeen World Growth and Income Fund1Aberdeen Cash Fund does not qualify for ISA investment.Details of these funds, including their investment objectives and policies are available in the Key Fund Data.Share Prices:These are available on the Aberdeen website at www.aberdeen-asset.co.uk/oeic or by calling Customer Serviceson 0845 300 2890.The Company’s annual accounting date is 31 July. Interim income payment dates vary by fund and are included in the Key Fund Data.CONSTITUTIONThe Aberdeen Investment Funds ICVC (“Aberdeen OEIC”) is an investment company with variable capital incorporated under the OpenEnded Investment Company (“OEIC”) Regulations 2001. It is incorporated in Scotland, registered number SI1.The Aberdeen OEIC qualifies as an “Undertaking for Collective Investment In Transferable Securities, better known as a “UCITS” scheme,and an umbrella company for the purposes of the OEIC Regulations. The purpose of this structure is to give investors access to a series offunds with differing objectives, within the flexibility of one single corporate structure.The OEIC sub-funds are authorised collective investment schemes as defined in the Financial Services and Markets Act 2000 regulated bythe Financial Services Authority (“FSA”) and are governed by the relevant rules in the FSA Handbook.The base currency of all funds is pounds sterling.Please refer to Key Fund Data for details of the Aberdeen OEIC funds available to investors.US investorsThe Funds detailed in this document are not available to investors who are resident in the United States. Accordingly, shares in the Fundsmay not, under any circumstances, be offered, sold or delivered either directly or indirectly in the United States.2 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

What are the aims of the Aberdeen OEIC and the Aberdeen ISA?THE ABERDEEN OEICAn OEIC is an open-ended investment company whose business is investing in shares, securities and other funds on behalf of investors. AnOEIC can also be known as an ICVC. They are known as ‘open-ended’ funds because each fund’s size will increase or decrease depending onthe levels of investments and redemptions at any particular time.When you invest in an OEIC your money is pooled with that of other investors in that fund. Your holdings in an OEIC are known as ‘shares’and the price of shares is based on the underlying value of the investments your chosen fund has invested in.THE ABERDEEN STOCKS AND SHARES ISAAn ISA is an Individual Savings Account offering tax efficient investment into the Aberdeen OEIC. Within government regulations, aninvestor may subscribe to two different types of ISA, a Stocks and Shares ISA and a Cash ISA. We do not offer a Cash ISA. An investor canhold a Stocks and Shares ISA with Aberdeen as well as a Cash ISA with a different ISA manager. Investors can transfer between differentISA managers.Maximum overall annual subscription limits apply to ISAs and are detailed in the ‘How to Invest’ chapter. Investments held in an ISA arefree of any liability to income tax and capital gains tax. All funds, other than the Cash Fund, included in this Simplified Prospectus qualifyfor ISA investment.WHO MAY THESE FUNDS BE SUITABLE FOR?These funds offer investors the opportunity to invest in an OEIC, which is a convenient way of participating in investment markets, with aview to achieving their defined investment objective. Investors must be willing to accept some risk to their capital, and these funds shouldbe considered medium to long term investments.Investors in any doubt about the suitability of investing in these funds should seek independent financial advice before doing so.Investors should refer to the investment aims of each Fund which are listed in Key Fund Data.What are the aims of the funds?The overall aims of the funds are to offer:• Choice, with a range of professionally managed funds invested in a wide range of securities; and• A flexible and affordable way to invest.The funds aim to achieve:• Income; or• Capital growth over the medium to long-term; or• A combination of income and capital growth over the medium to long-term.Your commitmentWhen investing in the Aberdeen OEIC, you are committing to invest in the stock market. You must accept that there are risks involved indoing so, not least that the value of your shares may fall and you could get back less than you invest. You should view your investmentdecision as a medium to long term investment. As well as generic risks, there are additional risks that are specific to certain funds and theseare stated on pages 4 - 5.You may buy and sell shares in the funds on any business day, subject to the investment levels outlined in the table below:Minimum and maximum investment levelsMinimum lumpsum per fundMinimum additionallump sum per fundMinimum regular savingsper fund (per month)MaximuminvestmentAberdeen UK OEIC £500 £100 £50 No upper limitAberdeen UK OEIC ISA -2011/12 tax year£500 £100 £50 £10,680 per tax year(or £890 per month)Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 3

Important - Risk factorsGENERAL RISK FACTORS TO CONSIDER WHENINVESTING IN THESE FUNDS• Any stock market investment involves risk. Some of these risksare general, which means that they apply to all investments.Others are specific, which means that they apply to individualfunds. Before you decide to invest, it is important tounderstand these risks. If you are unsure, please consult yourfinancial adviser.Market risk• The value of shares and the income from them can go down aswell as up.Performance risk• Past performance is not a guide to the future.Inflation risk• Inflation will, over time, reduce the spending power of yourinvestments.Derivatives for hedging purposes• The majority of the funds of the Aberdeen OEIC are permittedto use derivates to hedge against various risks as permitted bythe regulations. The use of derivatives for hedging in a risingmarket may restrict potential gains.Tax• The value of tax benefits depends on individual circumstancesand the favourable tax treatment for ISAs may not bemaintained.WHAT ARE THE SPECIFIC RISKS ASSOCIATED WITHTHESE FUNDS?The Aberdeen OEIC funds have different investment objectives,which define their areas of investment. The fund specific riskshighlighted below may also apply to your investment.(A) Exchange RatesFunds investing overseas can be affected by changes inexchange rates which may cause the value of your investmentto decrease or increase.In particular, this risk applies to the following funds:Aberdeen American Equity FundAberdeen Asia Pacific FundAberdeen Asia Pacific & Japan FundAberdeen Emerging Markets FundAberdeen Emerging Markets Bond FundAberdeen Ethical World FundAberdeen European Equity FundAberdeen European Frontiers FundAberdeen European Smaller Companies FundAberdeen High Yield Bond FundAberdeen Japan Growth FundAberdeen Latin American Equity FundAberdeen Managed Distribution FundAberdeen Multi-Asset FundAberdeen World Equity FundAberdeen World Growth and Income Fund(B) Bond and Fixed Interest FundsWith funds investing in bonds there is a risk that interest ratefluctuations could affect the capital value of investments.Where long term interest rates rise, the capital value of shares islikely to fall, and vice versa. In addition to the interest rate risk,bond investments are also exposed to credit risk reflecting theability of the borrower (i.e. bond issuer) to meet its obligations(i.e. pay the interest on a bond and return the capital on theredemption date). The risk of this happening is usually higherwith bonds classified as ‘sub-investment grade’. These mayproduce a higher level of income but at a higher risk thaninvestments in ‘investment grade’ bonds. In turn, this may havean adverse impact on funds that invest in such bonds.In particular, these risks apply to the following funds:Aberdeen Corporate Bond FundAberdeen Emerging Markets Bond FundAberdeen High Yield Bond Fund(C) Charges taken from capitalCertain funds treat the generation of income as a higher prioritythan capital growth; such funds may deduct their managementcharge from your capital. This will increase the amount ofincome available but at the expense of capital growth.4 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

In particular, this risk applies to the following funds:Aberdeen Corporate Bond FundAberdeen Emerging Markets Bond FundAberdeen High Yield Bond FundAberdeen Managed Distribution FundAberdeen UK Equity Income FundAberdeen World Growth and Income Fund(D) Emerging marketsEmerging markets tend to be more volatile and illiquid thanmore mature markets and therefore your investment is atgreater risk. Political risks and adverse economic circumstancesare more likely to arise, putting the value of your investment atrisk.In particular, this risk applies to the following funds:(G) Smaller companiesIf a fund invests in smaller companies, at times the fund mayexperience difficulties in realising some of the underlyingholdings due to the specialist nature of those investments.In particular, this risk applies to the following funds:Aberdeen European Smaller Companies FundAberdeen UK Smaller Companies Fund(H) Concentrated portfoliosConcentrated portfolios invest in a relatively small number ofinvestments and this can make them more volatile than fundsthat hold a larger number of investments.In particular, this risk applies to the following fund:Aberdeen Japan Growth FundAberdeen Asia Pacific FundAberdeen Asia Pacific & Japan FundAberdeen Emerging Markets FundAberdeen Emerging Markets Bond FundAberdeen Latin American Equity FundThe following funds may also have some exposure to emergingmarkets:Aberdeen European Frontiers FundAberdeen European Smaller Companies Fund(E) Specialist sectors/small marketsFunds which invest in small markets or specialist sectors ofindustry are likely to be more volatile than more diversifiedfunds.In particular, this risk applies to the following funds:Aberdeen Property Share FundAberdeen UK Smaller Companies Fund(I)Derivatives for investment purposesSome funds are permitted to invest in derivatives forinvestment purposes, which may, in certain circumstances,increase the volatility of the funds.In particular, this risk applies to the following fund:Aberdeen Corporate Bond FundAberdeen Emerging Markets Bond FundThese funds do not presently have exposure to derivativeinvestments:Aberdeen Managed Distribution FundAberdeen Multi-Asset FundAberdeen World Growth and Income FundFull details of all risks can be found in the Prospectus.(F) Single Country FundsIf a fund is a specialist country-specific fund, the investmentcarries greater risk than a fund diversified across morecountries.In particular, this risk applies to the following funds:Aberdeen American Equity FundAberdeen Cash FundAberdeen Japan Growth FundAberdeen Property Share FundAberdeen Responsible UK Equity FundAberdeen UK Equity FundAberdeen UK Equity Income FundAberdeen UK Mid-Cap FundAberdeen UK Smaller Companies FundAberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 5

Key Fund Data for Aberdeen UK OEIC Funds (Class A Shares)Fund NameAberdeen AmericanEquity FundAberdeen Asia PacificFundAberdeen Asia Pacific &Japan FundAberdeen Cash FundInvestment Aims*To achieve capital growth from a portfolio of North AmericanSecurities.To achieve capital growth by investing in countries of the AsiaPacific region, excluding Japan.To achieve capital growth by investing in the countries of AsiaPacific region, including Japan.To produce an attractive level of income commensurate withsecurity principally by investing in cash deposits and moneymarket instruments.Not available as an ISA.Specific RisksPlease refer to pages 4 - 5Type ofSharesavailableInitialCharge%Exchange rates, Single country. Accumulation 4.25Exchange rates, Emergingmarkets.Exchange rates, Emergingmarkets.Single country.IncomeAccumulation4.25Accumulation 4.25IncomeAccumulation0.00Aberdeen CorporateBond FundAberdeen EmergingMarkets FundAberdeen EmergingMarkets Bond FundAberdeen Ethical WorldFundAberdeen EuropeanEquity FundAberdeen EuropeanFrontiers FundTo produce an attractive level of income primarily throughinvestment in a portfolio of debt and debt-related securities.The Fund may also invest in derivatives and in collectiveinvestment schemes.To provide long term capital growth from investment inemerging stock markets worldwide or companies withsignificant activities in emerging markets.To provide an attractive level of income and long-termcapital return, by investing primarily in fixed interestsecurities issued by companies with their registered office in,and/or government-related bodies domiciled in an emergingmarket country.To achieve long-term capital growth through investment in aportfolio of international quality investments chosen on thebasis of ethical (“socially responsible”) criteria.To achieve capital growth through investment in a broadspread of European securities, but with minimal exposure tothe UK. The Manager will invest in European companies whichoffer good prospects for capital growth, whilst also takingopportunities as they arise to invest in European emergingmarkets.To achieve long term capital growth primarily in companiesof developing European countries, although the Fund mayalso invest in companies of other European countries.Bond and fixed interestfunds, Charges from capital,Derivatives for investmentpurposes.Exchange rates, Emergingmarkets.Exchange rates, Bond and fixedinterest funds, Charges takenfrom capital, Emerging markets,Derivatives for investmentpurposes.Exchange rates.IncomeAccumulation4.25Accumulation 4.25IncomeAccumulationIncomeAccumulation4.254.25Exchange rates. Accumulation 4.25Exchange rates, Emergingmarkets.Accumulation 4.25AThe PTR of the Cash Fund and the Corporate Bond Fund may be high due to the manner in which they are managed.BAs at 31 July 2010.CEstimated TER (fund launched on 9 March 2011).DNo historic PTR available as fund launched on 9 March 2011.ENo historic PTR available as fund launched on 12 October 2009.FThe PTR is negative reflecting that aggregate purchases and sales of securities were less than aggregate subscriptions and redemptions.*For full investment objectives refer to the Prospectus.6 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

AnnualManagementCharge%TotalExpenseRatio% B PortfolioTurnoverRate% B MinimumLump SumInvestmentper fundAdditionalLump SumInvestmentper fundMinimumRegularDirectInvestment(monthly)MinimumBalanceEx-dividendDates1.50 1.63 46.43 £500 £100 £50 £500 1 Feb1 AugPaymentDates30 Apr31 OctDividend orInterestDistributionDividendChargesfromIncome/CapitalIncome1.75 1.84 Negative F £500 £100 £50 £500 1 Aug 31 Oct Dividend Income1.75 1.80 Negative F £500 £100 £50 £500 1 Aug 31 Oct Dividend Income0.50 0.62 55.11 A £500 £100 £50 £500 1 Feb1 May1 Aug1 Nov30 Apr31 July31 Oct31 JanInterestIncome1.00 1.17 315.21 A £500 £100 £50 £500 1 Feb1 May1 Aug1 Nov30 Apr31 July31 Oct31 JanInterestCapital1.75 1.90 Negative F £500 £100 £50 £500 1 Aug 31 Oct Dividend Income1.5 1.79 C N/A D £500 £100 £50 £500 Firstbusinessday of eachmonthLastbusinessday ofeachmonthInterestCapital1.50 1.62 26.15 £500 £100 £50 £500 1 Feb1 Aug30 Apr31 OctDividendIncome1.50 1.72 19.30 £500 £100 £50 £500 1 Aug 31 Oct Dividend Income1.50 1.75 N/A E £500 £100 £50 £500 1 Aug 31 Oct Dividend IncomeAberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 7

Key Fund Data for Aberdeen UK OEIC Funds (Class A Shares) ContinuedFund NameAberdeen EuropeanSmaller CompaniesFundAberdeen High YieldBond FundAberdeen Japan GrowthFundAberdeen LatinAmerican Equity FundAberdeen ManagedDistribution FundAberdeen Multi-AssetFundAberdeen PropertyShare FundAberdeen ResponsibleUK Equity FundInvestment Aims*To achieve capital growth primarily by investing in Europeansmaller companies.To provide an attractive level of income with the opportunityfor some long-term capital growth. The Fund will investmainly in non-investment grade fixed interest securitiesissued by companies, governments, government relatedbodies and supranational institutions that are domiciledin the UK or Europe, which the Manager believes are likelyto produce a high yield. Investments may be of any creditquality and may include securities not paying interestcurrently and securities in default following purchase.To produce capital growth through investment in a diversifiedportfolio of Japanese securities.To provide a long-term total return, to be achieved byinvesting primarily in equities and equity-related securitiesof Latin American companies or companies with significantactivities in Latin America.To achieve both capital growth and an attractive level ofincome from a diversified portfolio. The Fund may invest intransferable securities and may also hold units in collectiveinvestment schemes, money market instruments, warrants,derivatives and forward transactions, cash and near cashdeposits.To provide long term total return from a diversified portfolio.The Fund may invest in transferable securities and may alsohold units in collective investment schemes, money marketinstruments, warrants, derivatives and forward transactions,cash and near cash and deposits.To provide long term total return, from a diversified portfolioof primarily property company securities. Holdings will beconcentrated in the United Kingdom, though investmentoverseas is permitted.To provide long term growth by investing in a diversifiedportfolio of UK companies. Equity selection will beundertaken on the basis of thorough fundamental companyanalysis but environment, social and governance criteria willalso be taken into account. Where an investee company’spractices are considered to be lacking or deficient with regardto these criteria, the manager will encourage the company toadopt more responsible practices.Specific RisksPlease refer to pages 4 - 5Exchange rates, Emergingmarkets, Smaller companies.Exchange rates, Bond and fixedinterest funds, Charges takenfrom capital.Exchange rates, Single country,Concentrated portfolios.Exchange rates, Emergingmarkets.Exchange rates, Charges fromcapital.Exchange rates.Specialist sectors/smallmarkets.Single country.Type ofSharesavailableInitialCharge%Accumulation 4.25IncomeAccumulation4.25Accumulation 4.25Accumulation 4.25IncomeAccumulationIncomeAccumulation4.254.25Accumulation 4.25IncomeAccumulation4.25AEstimated TER (fund launched on 9 March 2011).BAs at 31 July 2010.CNo historic PTR available as fund launched on 9 March 2011.DEstimated TER (fund launched on 8 February 2011).ENo historic PTR as fund launched on 8 February 2011.*For full investment objectives refer to the Prospectus.8 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

AnnualManagementCharge%TotalExpenseRatio% B PortfolioTurnoverRate% B MinimumLump SumInvestmentper fundAdditionalLump SumInvestmentper fundMinimumRegularDirectInvestment(monthly)MinimumBalanceEx-dividendDates1.50 1.69 51.27 £500 £100 £50 £500 1 Feb1 AugPaymentDates30 Apr31 OctDividend orInterestDistributionDividendChargesfromIncome/CapitalIncome1.25 1.51 A N/A C £500 £100 £50 £500 Firstbusinessday of eachmonthLastbusinessday ofeachmonthInterestCapital1.50 1.62 6.95 £500 £100 £50 £500 1 Aug 31 Oct Dividend Income1.75 1.90 D N/A E £500 £100 £50 £500 1 Aug 31 Oct Dividend Income1.25 1.34 19.34 £500 £100 £50 £500 1 Feb1 May1 Aug1 Nov30 Apr31 July31 Oct31 JanDividendCapital1.50 1.56 42.31 £500 £100 £50 £500 1 Feb1 Aug30 Apr31 OctDividendIncome1.50 1.61 1.12 £500 £100 £50 £500 1 Feb1 Aug30 Apr31 OctDividendIncome1.50 1.57 26.80 £500 £100 £50 £500 1 Feb1 Aug30 Apr31 OctDividendIncomeAberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 9

Key Fund Data for Aberdeen UK OEIC Funds (Class A Shares) ContinuedFund NameInvestment Aims*Specific RisksPlease refer to pages 4 - 5Type ofSharesavailableInitialCharge%Aberdeen UK EquityFundTo provide capital growth through investment in primarilyUK companies.Single country.IncomeAccumulation4.25Aberdeen UK EquityIncome FundTo achieve an attractive level of income combined withcapital growth from a portfolio primarily consisting of UKEquity and Equity-Related Securities.Charges from capital, Singlecountry.IncomeAccumulation4.25Aberdeen UK Mid-CapFundTo maximise total return from capital investmentpredominantly in the companies of the FTSE 250 Index.Single country.IncomeAccumulation4.25Aberdeen UK SmallerCompanies FundTo provide capital growth from investment in smaller UKcompanies.Single country, Smallercompanies.Accumulation 4.25Aberdeen World EquityFundTo provide long term total return from an internationallydiversified portfolio of equities.Exchange rates.IncomeAccumulation4.25Aberdeen WorldGrowth and IncomeFundTo provide income and capital growth for investors over thelong term in companies worldwide.Exchange rates, Charges takenfrom capital.Income 4.25AAs at 31 July 2010.BNo historic PTR available as fund launched on 12 October 2009.*For full investment objectives refer to the Prospectus.10 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

AnnualManagementCharge%TotalExpenseRatio% B APortfolioTurnoverRate% B MinimumLump SumInvestmentper fund% AAdditionalLump SumInvestmentper fundMinimumRegularDirectInvestment(monthly)MinimumBalanceEx-dividendDates1.50 1.63 17.44 £500 £100 £50 £500 1 Feb1 Aug1.50 1.60 27.66 £500 £100 £50 £500 1 Feb1 AugPaymentDates30 Apr31 Oct30 Apr31 OctDividend orInterestDistributionDividendDividendChargesfromIncome/CapitalIncomeCapital1.50 1.63 24.25 £500 £100 £50 £500 1 Feb1 Aug30 Apr31 OctDividendIncome1.50 1.62 24.71 £500 £100 £50 £500 1 Feb1 Aug30 Apr31 OctDividendIncome1.50 1.65 27.32 £500 £100 £50 £500 1 Feb1 Aug30 Apr31 OctDividendIncome1.50 1.76 N/A B £500 £100 £50 £500 1 Feb1 May1 Aug1 Nov30 Apr31 July31 Oct31 JanDividendCapitalAberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 11

Questions and AnswersTAX: THE ABERDEEN OEICHow much tax will I pay?The rates of, and any relief from, taxation depend on your ownpersonal circumstances and are likely to vary over time. Theinformation given below is based on our current understanding ofHM Revenue & Customs practice. It summarises the position ofindividual investors who are UK resident.Your potential tax liability is set out in this document but itshould be noted that there may be other taxes applicable to theinvestment. We recommend that you take professional advicebased on your individual circumstances, particularly if you aresubject to tax in a jurisdiction other than the UK.Capital Gains TaxIf your total chargeable gains (net of allowable losses) from allinvestments do not exceed the annual Capital Gains Tax (CGT)exemption level you will not pay any CGT. The current CGT ratesand annual exempt amount can be found at the HMRC website,www.hmrc.gov.uk.Income taxDistributions whether they are paid out or accumulated are treatedas income for tax purposes.Interest distributionsIncome tax at the rate of 20% will be deducted from paymentsof interest distributions to UK resident investors who will receivecredit for the tax deducted. Higher rate (currently 40%) andAdditional rate (currently 50%) taxpayers must account to HMRevenue & Customs for any further tax due on the gross amountof the interest. A basic rate taxpayer has no further tax liability. Inline with current legislation, we will report all interest distributionpayments to HM Revenue & Customs.Dividend distributionsIn all funds, excluding the Aberdeen Cash Fund, Aberdeen CorporateBond Fund, Aberdeen Emerging Markets Bond Fund and AberdeenHigh Yield Bond Fund, dividend distributions to individual investorsin the Aberdeen OEIC funds carry a tax credit at a rate of 10%. Ifyou are a lower or basic rate taxpayer, you will not have any furthertax liability. Higher rate and Additional rate taxpayers will be liableto income tax on their grossed up dividend income at the rate of32.5% and 42.5% respectively but may offset the 10% tax creditagainst this. Higher rate taxpayers will therefore be liable to payincome tax equivalent to a rate of 25% of their net receipt. ForAdditional rate taxpayers the equivalent rate is 36.1% of their netreceipt. It is not possible for investors to reclaim any amount inrespect of the tax credit.TAX: THE STOCKS AND SHARES ISAHow much tax will I pay?Capital Gains TaxISA investors currently have no capital gains tax liability.Income TaxISA investors currently have no income tax liability.Dividend Distributions20% tax will be reclaimed on interest distributions (fromOEICs invested in gilts, UK or overseas bonds or money marketinstruments and bank deposits) on ISA holdings.TAX: THE FUNDSFunds may receive dividends from UK equity investments; these arenot subject to UK corporation tax in the fund. However, each fund isliable to UK corporation tax, at the prevailing rate on its other typesof income after deducting management expenses, charges and thegross amount of any interest distributions. Current ratesof corporation tax can be found at the HMRC website,www.hmrc.gov.uk under ‘Rates and tables’.The funds are exempt from UK corporation tax on capital gainsrealised on the disposal of investments.What is dilution?When the Company buys or sells underlying investments inresponse to a request for the issue or redemption of shares, it willincur a cost, made up of dealing costs and any spread betweenthe bid and offer prices of the investment concerned, which isnot reflected in the issue or redemption price paid by or to theshareholders.A dilution adjustment will be applied to the price of the shareswhere there is a large influx or exit of money into or from a fund.This is to prevent dilution of the fund as a result of underlyingtransaction costs incurred by the fund.For detailed information on the impact dilution may have on yourinvestment please refer to the Prospectus.Details of which funds pay Interest Distributions and which fundspay Dividend Distributions is set out in the Key Fund Data.12 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

Charges and ExpensesHOW WILL CHARGES AND EXPENSES AFFECTMY INVESTMENT?What will I pay for my investment in an Aberdeen OEIC orAberdeen ISA?Initial chargeOEICs are ‘single priced’ i.e. they are bought, sold and exchangedat prices based upon the value of the underlying portfolio of thefund. This is known as the net asset value of the fund. The price ofeach share is calculated by dividing the net asset value of the fundattributable to a particular class of share by the number of sharesof that class in issue. The fund has a single pricing structure, whichmeans that the buying and selling prices of shares on a particularday will be the same. To this price will be added the initial chargeof 4.25%, applicable when shares are purchased. No initial chargeapplies to the Cash Fund. For ISA Transfers the cash proceeds ofyour transferred ISA will be invested at the Net Asset Value (NAV)which has the effect of discounting the initial charge.Annual Management Charge (AMC)For an OEIC there is an annual management charge which is takendirectly from the funds. The AMC will vary according to each fund.Please refer to the Key Fund Data which provides the AMC of allfunds.There is no additional ISA charge.The Manager reserves the right to introduce an additional chargein the future to cover any additional expenses incurred by themanager as a result of significant regulatory change. In any eventno such charge will be introduced without giving shareholders 60days’ written notice. If you are invested in an Aberdeen ISA, anysuch increase will not apply for the remainder of the tax year inwhich notice is given. No initial charge applies to the Cash Fund.Dealing costsThere are costs associated with buying and selling shares thatinclude Stamp duty, which is currently 0.5% on the purchase ofshares.Portfolio Turnover Rate (PTR)The PTR represents the percentage of a fund’s portfolio that isbought and sold over a 12 month period over and above thetrading required to invest new money and to pay the proceeds ofrepurchases. If the PTR is high, the costs incurred may have a higherimpact on your investment. At the same time, active managementmay mean that changing investments increases the performance ofthe fund sufficiently to outweigh these costs. The PTR of each fundis quoted in Key Fund Data.Examples of how charges and expenses will affect myinvestment• Set out below are tables which show the effect of charges andexpenses on a £1,000 lump sum investment into AberdeenUK Equity Income Fund (as an example of an “income”fund, Example 1) and Aberdeen European Equity Fund (as anexample of a “growth” fund, Example 2) assuming growth of6% p.a. for direct investment in an OEIC.• These rates are laid down by the FSA and are for illustrationpurposes only. The figures are not guaranteed, and serveonly to demonstrate the effect of charges and expenses onan investment. Investments held within an ISA may achievea higher growth rate than those held outside such productsbecause of their tax benefits. All figures are as at 31 July 2010.• Where accumulation shares are available, figures are based onaccumulated income. Otherwise figures are based on incomedistributions reinvested.• For each fund, a percentage figure is shown which takes intoaccount the effect of charges and expenses after 1, 3, 5 and 10years. It shows the level to which growth would be reduced.Therefore, the lower the percentage growth figure, thegreater the effect of charges and expenses. It is important toremember that inflation will reduce what you can buy in thefuture with the amount shown. Dealing costs are not included.What are the other charges?The funds will bear other running cost expenses such as Depositaryor Custodian fees, Auditor’s fees and other operational expenses.Total Expense Ratio (TER)The TER is the true annual running cost of the fund as it is the sumof the AMC and the other expenses listed above. Dealing costs arenot included. The TER can help you compare the annual operatingexpenses of different funds.The AMC and other expenses for each fund are variable and areshown in Key Fund Data. Apart from the initial charge, which isincluded in the buying price of the shares, all the above charges andexpenses will normally be taken from the fund’s income althoughsome funds take charges from capital.Please refer to Key Fund Data for full information on charges andexpenses.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 13

DIRECT INVESTMENT INTO AN OEIC – ASSUMING GROWTH OF 6% PER ANNUMExample 1Investing for income - Aberdeen UK Equity Income Fund£1,000 Lump SumInitial charge 4.25%, Total Expense Ratio 1.60%, Yield 3.50%At the end ofyearInvestment todateIncome sharesEffect ofdeductions todateIncome to dateWhat youmight get backat 6% perannum growthReinvested/Accumulation sharesEffect ofdeductions todateWhat youmight get backat 6% perannum growth£ £ £ £ £ £1 1,000 61 35 962 61 9983 101 107 973 104 1,0805 147 180 983 155 1,18010 291 366 1,010 329 1,460The last line in the table shows that over 10 years the effect of total charges and expenses could amount to £291 if incomedistributions are taken or £329 for accumulation shares. Putting it another way, this would have the effect of bringing the illustratedinvestment growth from 6% p.a. down to 3.78% and 3.86% respectively for a lump sum investment.Example 2Investing for growth - Aberdeen European Equity Fund£1,000 Lump SumInitial charge 4.25%, Total Expense Ratio 1.72%, Yield 1.00%Reinvested/Accumulation sharesAt the endof yearInvestmentto dateEffect ofdeductions to dateWhat you might get back at 6%per annum growth£ £ £1 1,000 62 9973 108 1,0805 162 1,17010 347 1,440The last line in the table shows that over 10 years the effect of total charges and expenses could amount to £347 for an OEICinvestment. Putting it another way, this would have the effect of bringing the illustrated investment growth from 6% p.a. down to3.73% p.a. for a lump sum investment.Please refer to the Key Fund Data on the other Aberdeen Funds to consider how the small variations in charges and expenses couldaffect returns at the end of ten years.14 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

Effect of charges and expenses on your investmentThe table below gives you an idea of how the variations in charges and expenses on other funds could affect returns (income reinvestedbasis, except for World Growth and Income Fund which is on an income paid out basis) at the end of 10 years. For example, for a lump suminvestment of £1,000 in the Aberdeen American Equity Fund, growth will reduce from the assumed rate of 6% to 3.83% per annum. Forfurther information please refer to page 13.Reduction In Yield (RIY)Fund nameDirect InvestmentTotal ExpenseRatio (TER) %Effectivereduction ininvestmentgrowth from6% to thefollowing %Aberdeen American Equity Fund 1.63 3.83Aberdeen Asia Pacific Fund 1.84 3.61Aberdeen Asia Pacific & Japan Fund 1.80 3.65Aberdeen Cash Fund 0.62 3.35 AAberdeen Corporate Bond Fund 1.17 4.31Aberdeen Emerging Markets Fund 1.90 3.55Aberdeen Emerging Markets Bond Fund 1.79 B 3.66 BAberdeen Ethical World Fund 1.62 3.84Aberdeen European Equity Fund 1.72 3.73Aberdeen European Frontiers Fund 1.75 3.70Aberdeen European Smaller Companies Fund 1.69 3.77Aberdeen High Yield Bond Fund 1.51 B 3.95 BAberdeen Japan Growth Fund 1.62 3.84Aberdeen Latin American Equity Fund 1.90 B 3.55 BAberdeen Managed Distribution Fund 1.34 4.13Aberdeen Multi-Asset Fund 1.56 3.90Aberdeen Property Share Fund 1.61 3.85Aberdeen Responsible UK Equity Fund 1.57 3.89Aberdeen UK Equity Fund 1.63 3.83Aberdeen UK Equity Income Fund 1.60 3.86Aberdeen UK Mid-Cap Fund 1.63 3.83Aberdeen UK Smaller Companies Fund 1.62 3.84Aberdeen World Equity Fund 1.65 3.81Aberdeen World Growth and Income Fund 1.76 3.60AReduction from 4%, in line with FSA guidelines relating to Cash Funds.BThe TER and RIY for these Funds have been estimated.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 15

How To InvestHOW DO I INVEST?Investments in an Aberdeen OEIC or Aberdeen OEIC ISA can bemade either by a lump sum payment or through our RegularSavings Scheme.Investments can be made by completing the relevant Applicationform and returning it with the appropriate remittance to AberdeenUnit Trust Managers Limited or to your Financial Adviser. We willonly accept cheques drawn on an account of a UK Bank/BuildingSociety denominated in sterling. Direct investments of up to£25,000 may be made by telephoning our Dealing Line between9am and 5pm Monday to Friday. Payment by Debit Card, such asVISA Debit, Maestro or Solo, is accepted. Please note that creditcards are not accepted.Non-UK InvestorsNew non-UK investors must apply in writing. Subsequent investmentsmay be made by telephone, up to existing limits as agreed by theManager. Applications from US residents will not be accepted.ISA InvestorsAberdeen only offers a Stocks and Shares ISA. Anyone aged 18or over may invest in a Stocks and Shares ISA, provided they areresident or ordinarily resident in the UK for tax purposes. Thisincludes people performing duties as Crown employees servingoverseas and paid out of the public revenue of the United Kingdom(typically a serving member of the armed forces or a diplomat), aswell as those married to or in a civil partnership with them. ISAsmay not be taken out in joint names.The maximum investment permitted into a Stocks and Shares ISAis £10,680 for the current tax year. Where an investor subscribes toa Cash ISA with another ISA manager, in conjunction with a Stocksand Shares ISA, their annual aggregate ISA must not exceed theoverall subscription limit.REGULAR SAVERSInvestments can be made monthly by direct debit enabling youto spread your investment payments through the year. Simplycomplete the Direct Debit Form. Please refer to Key Fund Data forminimum monthly payment limits.For monthly savings, we will collect all Direct Debit payments onthe first business day of each month. We will need to have receivedinstructions from you to do so by the 15th day of the precedingmonth.ADDITIONAL INVESTMENTSYou can add to your OEIC investment with a minimum of £100 perfund at any time by contacting the manager. You can top up yourISA subscription by completing and returning the ISA top-up formor contacting the Manager. Please bear in mind the annualISA subscription limit.HOW DO I STOP OR AMEND MAKING MONTHLYINVESTMENTS?To stop or amend your Direct Debit, you must inform us at leastseven working days ahead of the next collection date. Instructionsto cancel or change a Direct Debit can be accepted by phone, fax orin writing. Each collection is made on the first business day of thenext month.HOW ARE THE FUNDS PRICED AND DEALT?Pricing:You will pay an initial charge when you invest in an OEIC and thereis no difference between the buying and selling price of shares –they are known as being ‘single priced’. For this reason, any initialcharge is added to the OEIC single mid price.Dealing:Aberdeen’s OEIC funds are valued at 12 noon on every businessday. Dealing instructions received before 12 noon on a business daywill be transacted at that day’s prices. Dealing instructions receivedafter 12 noon will receive the next business day’s price.WHAT DOCUMENTATION WILL I RECEIVE?All Aberdeen Funds are non-certificated and as a result no sharecertificates will be issued. Following subscription to an AberdeenOEIC or ISA an investor will receive:• Contract Note (lump sum investments only)• Acknowledgment of first monthly payment (Regular SavingScheme only)• 6 Monthly Statement within 25 business days of 5 April and 5October• Annual and Interim Report and Accounts• Declaration Form - For a telephone ISA, Aberdeen will sendyou a Declaration Form confirming the information you haveprovided. This Declaration Form does not have to be signedby you or returned to Aberdeen. However, please informAberdeen of any discrepancies within 30 days.HOW CAN I SELL MY HOLDING?To sell part or all of your holding, shareholders may sendinstructions by fax, in writing or by telephoning our DealingDepartment. Please see the Terms and Conditions, section 20(Selling) for further information.HOW DO I CLOSE MY ABERDEEN ISA?You may close your ISA for cash or instruct a transfer at any time,by writing to us.CAN I SWITCH MY INVESTMENTS?You can sell some or all of your shares, or switch the proceeds fromone fund to another. We will accept instructions by telephone, faxor in writing. Switches will be processed through your servicingFinancial Adviser, if relevant, unless otherwise stated. For switcheswhich are effected through a Financial Adviser, a charge of up to 3%may be levied to cover the amount of commission paid to your16 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

Financial Adviser. The minimum investment limits will apply to bothnew and existing holdings should you wish to switch part of yourinvestment only into a new fund.HOW DO I TRANSFER AN ISA TO ABERDEEN?Applications for ISA transfers should be made in writing to ususing the applicable Aberdeen Transfer Application form. The cashproceeds of your transferred ISA will be invested in your choice ofAberdeen ISA fund(s), as you direct. ISA transfer proceeds will beinvested, after deduction of the initial charge, at the buying priceon the day of receipt of the proceeds. For ISA transfers which areeffected through a Financial Adviser, the discount given will bereduced by the amount of commission, if any, paid to the FinancialAdviser. You can transfer in either a Cash ISA or a Stocks andShares ISA to an Aberdeen Stocks and Shares ISA. You can transferyour current year’s subscription in whole and/or previous year’sinvestments in whole or in part, at any time. The date of transferis the date agreed between the Plan Managers, although you mayspecify a period in which the transfer should take place. Please notethat we are not in a position to accept cheques for less than £20.If income below this amount is generated after the transfer, youroriginal Plan/Account Manager will be asked to forward the chequeto you direct.CAN I CHANGE MY MIND?If you received advice from an authorised Financial Adviser inrespect of your investment in an OEIC, ISA or transfer of an ISA, youwill receive a notice of your right to cancel your investment andyou will have 14 days from the date of deal to exercise your rights.You may not get a full refund of your money if the value of yourinvestment has fallen between the date your money was investedand the date we receive the cancellation notice.DISTRIBUTIONSEach individual fund distributes or accumulates substantially all itsincome. The annual income payment date for each individual fundis 31 October. Payment or accumulation of income will be madeon or before this date every year. The ex-dividend date and recorddate is the first day of the month following the end of the previousaccounting reference period. Interim payment dates, whereapplicable, are set out in the details of each fund in the KeyFund Data.Any distributions which remain unclaimed for a period of six yearsafter having become due for payment shall be forfeited and shallrevert to the Company. Distributions for Accumulation shareswill automatically be added to the capital of the fund and will bereflected in the value of each share. Distribution statements and taxcertificates will be sent to shareholders.WHAT HAPPENS TO MY INVESTMENT ON DEATH?Shares in any of the funds form part of your estate on death andon production of the Death Certificate and the Grant of Probate orLetters of Administration, can be sold or re-registered in the namesof the Executors or Administrators of the Estate or a Beneficiary orin the names of the surviving shareholders.The tax benefits of an ISA cease from the date of death.IMPORTANT information• The tax benefits of ISAs could change in the future. These taxbenefits also vary between investors;• If you transfer into the Aberdeen ISA you should appreciatethat during a part of the period of transfer your investment willbe in cash. This means that until your cash is reinvested intothe Aberdeen Fund(s) of your choice you will not be exposed toany gains or falls in stock markets. Please note that the transfercan take up to 30 days;• If you exercise your right to cancel an ISA, the proceeds will bepaid to you, but you will lose the tax advantages of the ISA;• Transferring your ISA from another Plan Manager may incurdealing expenses or other fees.• If you transfer a Cash ISA into a Stocks and Shares ISA youwill not be able to subsequently transfer your ISA back to aCash ISA.In the case of income shares, payment will be made direct to theshareholder’s bank or building society account. If reinvestment ofdistributions is requested, the investment will be switched fromIncome shares to the equivalent Accumulation shares at no cost tothe shareholder. If Account details have not been supplied with theApplication, then the investment will be made in the Accumulationshares of the same share class. Distributions cannot otherwise bereinvested. Income cannot be paid out for regular savers.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 17

Additional Investor InformationHOW DO I NOTIFY ABERDEEN OF A CHANGE OFPERSONAL DETAILS?All notifications of a change of address (on an account in a singlename only) can be accepted by telephone or fax. For any otherchange of personal details, or for accounts held in more than onename, details must be sent to us accompanied by all appropriatesignatures.WHERE CAN I FIND THE PRICES?Fund prices are available on the Aberdeen website or by contactingour Customer Services Department.HOW CAN I OBTAIN FURTHER INFORMATION ABOUTABERDEEN’S RANGE OF OEICS AND ISASInformation can be obtained from our website or the CustomerServices Department. We are, however, unable to give individualinvestment advice. If you require advice, before investing, wewould recommend that you consult a Financial Adviser.HOW DO I OBTAIN A PROSPECTUS OR THE COMPANYREPORT & ACCOUNTS?Copies of the current Prospectus of the Aberdeen InvestmentFunds ICVC together with the latest Annual and Interim Report andAccounts for any fund, are available on the Aberdeen website or bycontacting us.HOW MUCH WILL ANY ADVICE COST?If you have been given investment advice from a Financial Adviser,your adviser will give you details about the cost.HOW WOULD ANY COMPLAINT BE RESOLVED?If you need to complain about any aspect of our service,administration or probity, you should write to the ComplaintsDepartment, Aberdeen Unit Trust Managers Limited, 10 QueensTerrace, Aberdeen, AB10 1YG, who will initiate our formalcomplaints procedure. A leaflet detailing our complaints procedureis available on request. If you remain dissatisfied, the complaintcan generally, depending on its nature, be passed to the FinancialOmbudsman Service. If you make a valid claim against Aberdeen inrespect of the investments we buy or sell on your behalf, and we areunable to meet our liabilities in full, you may be entitled to redressfrom the Financial Services Compensation Scheme (FSCS), 7thFloor, Lloyds Chambers, Portsoken Street, London, E1 8BN.CLIENT CATEGORISATIONUnder the FSA Rules, you will be categorised as a ‘retail client’,meaning that you will have the maximum amount of protectionavailable under the relevant rules.TELEPHONE CALLSWe may record telephone conversations to offer you additionalsecurity, resolve complaints and improve our service standards.Conversations may also be monitored for staff training purposes.EQUALITY ACTIf you require a copy of this brochure in large text format, braille oron audiotape, please contact our Customer Services Department.EUROPEAN SAVINGS DIRECTIVEThis only applies to investors who are not resident in the UK. Theregulations which implemented the European Savings Directiverequire us to obtain additional customer information, if you investin a fund with a fixed interest or cash content of more than 15%.We are required to obtain either your tax identification numberor your date and place of birth, and report these to HM Revenue& Customs.CONFLICTS OF INTERESTWe and the ACD undertake to act in the best interests of the Funds.You can find further details of our Conflicts of Interest policy in thefull Prospectus.BEST EXECUTIONDetails of our Best Execution policy are available by contacting us.EXERCISE OF VOTING RIGHTSWe may write to you if there are proposed changes to the Funds.Some of these changes may require you to vote. We have strategiesin place relating to voting rights. A summary of these strategies, aswell as details of any actions taken on the basis of them, is availableby contacting us.Details are available from the FSCS Helpline on 0800 678 1100 or020 7741 4100 and on the FSCS website: www.fscs.org.uk.WHAT MONEY LAUNDERING CHECKS ARECARRIED OUT?Please refer to the Terms and Conditions (section 28) for fullinformation.18 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

Fund PerformanceThis section provides investors with information on the past performance of the Funds of the Aberdeen UK OEIC.Please note that all performance information is as at 31 December 2010. More up to date performance is available on our monthly fundfactsheets which are published on the Aberdeen website. Alternatively, please call our Customer Services Department.The past performance for each fund is displayed in two ways:1) Annual Returns - bar chartThe bar chart displays annual returns for each fund. Annual returns are shown for each of the last 10 full consecutive years, i.e. from1 January to 31 December for each year up to 31 December 2010. If the fund has been running for less than 10 years, but more than 1year, the annual returns are shown for as many years as are available.2) Cumulative ReturnsUnderneath each bar chart, a figure is given showing cumulative returns for each fund. Cumulative returns are shown for the 10 yearsto 31 December 2010. Again, if the fund has been running for less than 10 years, but at least 1 year, the cumulative returns are shownfor as many years as are available.The past performance is calculated net of tax and charges.ABERDEEN AMERICAN EQUITY FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN ASIA PACIFIC FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 yearsDiscrete 12 months to 31 December over 10 years20Aberdeen American Equity Fund60Aberdeen Asia Pacific Fund105040030Performance-10-20Performance20100-30-10-20-402001200220032004200520062007200820092010-302001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was -8.29%.Cumulative performance: over the same time period, the totalreturn was +359.53%.Source: AAM, Lipper, Total Return, NAV to NAV, UK Net Income Reinvested GBP. Please remember that the value of shares and theincome from them is not guaranteed and can fall as well as rise due to stock market and currency movements. Past performanceis not a guide to future performance and when you sell your investment you may get back less than you originally invested. Theseperformance graphs do not include the effect of subscription and redemption fees.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 19

ABERDEEN ASIA PACIFIC & JAPAN FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN CASH FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 yearsDiscrete 12 months to 31 December over 10 years5040Aberdeen Asia Pacific and Japan Fund4.54.0Aberdeen Cash Fund303.5Performance20100Performance3.02.52.01.5-101.0-200.5-3020012002200320042005200620072008200920100.02001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +226.79%.Cumulative performance: over the same time period, the totalreturn was +30.14%.ABERDEEN CORPORATE BOND FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN EMERGING MARKETS FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 6 yearsDiscrete 12 months to 31 December over 10 years1510Aberdeen Corporate Bond Fund706050Aberdeen Emerging Markets FundPerformance50-5Performance403020100-10-10-20-152001200220032004200520062007200820092010-302001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +14.38%.Cumulative performance: over the same time period, the totalreturn was +470.53%.Source: AAM, Lipper, Total Return, NAV to NAV, UK Net Income Reinvested GBP. Please remember that the value of shares and theincome from them is not guaranteed and can fall as well as rise due to stock market and currency movements. Past performanceis not a guide to future performance and when you sell your investment you may get back less than you originally invested. Theseperformance graphs do not include the effect of subscription and redemption fees.20 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

ABERDEEN EMERGING MARKETS BOND FUNDThis fund was launched on 9 March 2011 so no historicperformance figures are available. For the latest availableinformation, please visit www.aberdeen-asset.co.ukABERDEEN ETHICAL WORLD FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 years30Aberdeen Ethical World Fund2010Performance0-10-20-302001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +46.93%.ABERDEEN EUROPEAN Equity FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN EUROPEAN FRONTIERS FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 yearsDiscrete 12 months to 31 December over 10 years3020Aberdeen European Equity Fund8060Aberdeen European Frontiers Fund40Performance100-10Performance200-20-40-20-60-302001200220032004200520062007200820092010-802001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +12.69%.Prior to 12 March 2010, the name of this fund was Aberdeen European Growth Fund.Cumulative performance: over the same time period, the totalreturn was +294.45%.Prior to 9 October 2009, the Fund was a sub-fund of Aberdeen International Funds ICVC and not asub-fund of this OEIC. Prior to 1 July 2009, the Fund was managed by Credit Suisse Asset Managementand the performance prior to 1 July 2009 reflects that of Credit Suisse European Frontiers Fund.Source: AAM, Lipper, Total Return, NAV to NAV, UK Net Income Reinvested GBP. Please remember that the value of shares and theincome from them is not guaranteed and can fall as well as rise due to stock market and currency movements. Past performanceis not a guide to future performance and when you sell your investment you may get back less than you originally invested. Theseperformance graphs do not include the effect of subscription and redemption fees.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 21

ABERDEEN EUROPEAN SMALLER COMPANIES FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 yearsABERDEEN HIGH YIELD BOND FUNDThis fund was launched on 9 March 2011 so no historicperformance figures are available. For the latest availableinformation, please visit www.aberdeen-asset.co.uk5040Aberdeen European Smaller Companies Fund3020Performance100-10-20-30-402001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +59.11%.30Aberdeen Japan Growth Fund2010Performance0-10-20-302001200220032004200520062007200820092010Source: AAM, Lipper, Total Return, NAV to NAV, UK Net Income Reinvested GBP. Please remember that the value of shares and theincome from them is not guaranteed and can fall as well as rise due to stock market and currency movements. Past performanceis not a guide to future performance and when you sell your investment you may get back less than you originally invested. Theseperformance graphs do not include the effect of subscription and redemption fees.22 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

ABERDEEN MANAGED DISTRIBUTION FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN MULTI-ASSET FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 7 yearsDiscrete 12 months to 31 December over 5 years20Aberdeen Managed Distribution Fund2520Aberdeen Multi Asset Fund101510Performance0Performance50-5-10-10-15-20-202001200220032004200520062007200820092010-252001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +48.97%.Cumulative performance: over the same time period, the totalreturn was +29.69%.ABERDEEN PROPERTY SHARE FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN RESPONSIBLE UK EQUITY FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 yearsDiscrete 12 months to 31 December over 4 years605040Aberdeen Property Share Fund4030Aberdeen Responsible UK Equity Fund3020Performance20100-10-20Performance100-10-30-20-40-50-30-602001200220032004200520062007200820092010-402001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +36.67%.Cumulative performance: over the same time period, the totalreturn was +6.23%.On 1 October 2008 Aberdeen Ethical Engagement UK Fund changed its name to AberdeenResponsible UK Equity Fund and added additional stock screening to its investment approach. Thehistoric performance figures are those of Aberdeen Ethical Engagement UK Fund.Source: AAM, Lipper, Total Return, NAV to NAV, UK Net Income Reinvested GBP. Please remember that the value of shares and theincome from them is not guaranteed and can fall as well as rise due to stock market and currency movements. Past performanceis not a guide to future performance and when you sell your investment you may get back less than you originally invested. Theseperformance graphs do not include the effect of subscription and redemption fees.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 23

ABERDEEN UK Equity FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN UK EQUITY INCOME FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 yearsDiscrete 12 months to 31 December over 10 years30Aberdeen UK Equity Fund30Aberdeen UK Equity Income Fund20201010Performance0-10Performance0-10-20-20-30-30-402001200220032004200520062007200820092010-402001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +24.05%.Prior to 12 March 2010, the name of this fund was Aberdeen UK Growth Fund.Cumulative performance: over the same time period, the totalreturn was +41.04%.ABERDEEN UK MID-CAP FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN UK SMALLER COMPANIES FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 yearsDiscrete 12 months to 31 December over 10 years5040Aberdeen UK Mid Cap Fund60Aberdeen UK Smaller Companies Fund304020Performance100-10-20Performance200-30-20-40-502001200220032004200520062007200820092010-402001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +53.29%.Cumulative performance: over the same time period, the totalreturn was +32.58%.Source: AAM, Lipper, Total Return, NAV to NAV, UK Net Income Reinvested GBP. Please remember that the value of shares and theincome from them is not guaranteed and can fall as well as rise due to stock market and currency movements. Past performanceis not a guide to future performance and when you sell your investment you may get back less than you originally invested. Theseperformance graphs do not include the effect of subscription and redemption fees.24 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

ABERDEEN WORLD EQUITY FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingABERDEEN WORLD GROWTH AND INCOME FUNDTotal return performance, NAV to NAV, UK net incomereinvested to 31/12/10, base currency - sterlingDiscrete 12 months to 31 December over 10 yearsDiscrete 12 months to 31 December over 10 years40Aberdeen World Equity Fund30Aberdeen World Growth and Income Fund30202010Performance100Performance0-10-10-20-20-302001200220032004200520062007200820092010-302001200220032004200520062007200820092010Cumulative performance: over the same time period, the totalreturn was +41.13%.Cumulative performance: over the same time period, the totalreturn was +3.38%.Prior to 9 October 2009, the Fund was a sub-fund of Aberdeen International Funds ICVC and not asub-fund of this OEIC. Prior to 1 July 2009, the Fund was managed by Credit Suisse Asset Managementand the performance prior to 1 July 2009 reflects that of Credit Suisse GlobalIncome Plus Fund.Source: AAM, Lipper, Total Return, NAV to NAV, UK Net Income Reinvested GBP. Please remember that the value of shares and theincome from them is not guaranteed and can fall as well as rise due to stock market and currency movements. Past performanceis not a guide to future performance and when you sell your investment you may get back less than you originally invested. Theseperformance graphs do not include the effect of subscription and redemption fees.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 25

Aberdeen Investment Funds ICVC – Terms and ConditionsThese Terms and Conditions are applicable to you if you haveinvested in an Aberdeen OEIC, either directly or through an ISA.We will treat you as a ‘Retail Client’, which means that you willbenefit from the highest level of consumer protection availableunder the FSA Rules.The Application Form is part of these Terms & Conditions. If theterms in the Application Form differ from these, those contained inthe Application Form will prevail.1. DEFINITIONSThe Funds will be managed in accordance with the Prospectusand the FSA Rules.For the purpose of this Agreement full definitions of terms arequoted in the Glossary.In this Agreement, unless the context sets out somethingdifferent, words in the singular include the plural and vice versa.References to any statute or regulation include anyamendment or re-enactment. Headings and sub headingsare for guidance only and are not part of these Terms andConditions.2. INVESTMENT OBJECTIVEYour investment aim is to invest in the Funds which you haveselected. The individual investment objectives of each Fund aresummarised in the Simplified Prospectus under the heading“Key Fund Data for Aberdeen UK OEIC Funds (Class A Shares)”and listed in full in the Prospectus.3. INVESTMENT POWERSSubject to its individual investment objectives and policiesand subject at all times to the applicable requirements of theFSA Rules, each Fund may use all investment and borrowingpowers available to it under the FSA Rules.4. RISK WARNINGSYou should appreciate that investment markets will besubject to fluctuations which will cause the value of yourshareholdings and any income resulting from them to fallas well as rise. Accordingly, the value of investments is notguaranteed and you may receive less than the amount whichyou originally invested when you sell your shares. The taxregime applicable to ISAs may change. Please see the RiskFactors in the Simplified Prospectus for more information.5. INVESTMENT ADVICEWe will not give you investment advice in relation to the Shares.6. TRANSACTIONSWe may rely on any notice, permission, request or instructionwhich we believe, in our reasonable discretion, to be genuine. Ifwe do not believe an instruction is genuine, we may decline toaccept or act upon it, and in such case we will not be liable forany losses (including adverse market movements), damages orcosts incurred by you or by any third party as a result. We willnot be liable to you for any losses you may incur and you willbe responsible for any losses which we may incur as a result ofreliance by us on telephone instructions. No notice, instructionor other communication will be deemed to have been given byyou until it has actually been received.We reserve the right not to accept any buying or sellinginstruction unless we are satisfied that all information whichwe require at the time of dealing has been accurately provided.We act as principal in all transactions with you. This meansthat when you buy and sell Shares we act for the Company anddo not act as your agent.7. BUYINGShares may be purchased or sold on any Dealing Day between9 am and 5 pm. The property of each Fund is valued daily at12 noon, the Valuation Point, for the purpose of determiningthe price. All orders will be placed on a forward price basis.This means that buying instructions received before theValuation Point will be dealt using the current day’s price andorders placed after the Valuation Point will be dealt usingthe following Dealing Day’s price. All cash received by usfor investment in your Account (including in the case of anISA, subscriptions collected by Direct Debit), will be used topurchase Shares in the relevant Fund, at prices determined inaccordance with the Prospectus at the regular Valuation Pointfollowing receipt of your instructions and cash. We reserve theright to adjust the price of the Shares in certain circumstancesby way of a dilution adjustment. Please see the SimplifiedProspectus and Prospectus for further details on the impactdilution may have on any purchase or sale of Shares.Applications from prospective investors with a ‘PO Box’or ‘care of’ address are not acceptable unless an investor’spermanent residential address is a retirement home, nursinghome, hospice or hospital.Please note that unless you indicate that you wish to investin the income share class, you will be invested into theaccumulation share class where both are available.Non-ISA Register ShareholdersShares may be bought by telephone, fax or postal instruction,by contacting us directly or by placing instructions with yourfinancial adviser. Contact details can be found on the insidecover of the Simplified Prospectus.ISA Register Shareholdersi. In the case of an ISA, your Account will open upon receiptby us of a duly completed Application Form togetherwith your initial cash subscription. Subject to the ISARegulations, if the information you have supplied isinsufficient, we may still open an Account on a provisionalbasis. Where we open an Account on a provisionalbasis you must supply us with any missing informationwithin 30 days of written notice from us requesting such26 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

ii.iii.information, otherwise the Account will be voided inaccordance with HM Revenue & Customs requirements.This will mean that your Account will be closed with theloss of all tax exemptions. The Shares will then be heldin your own name outside the ISA as a Non-ISA holding.If you invest over the telephone, your Account is openedimmediately.Your ISA application covers both the current tax yearand each subsequent tax year until we receive no cashsubscription for a full tax year.To purchase Shares in an ISA you may complete an ISAApplication Form and send it to us by post. Alternativelyyou may open an ISA, and make additional subscriptionsto an ISA, using the telephone. To transfer an ISA youmust complete an ISA Transfer form (included within theSimplified Prospectus pack).Application Forms are included within the SimplifiedProspectus pack. Additional forms can be obtained bycontacting the Customer Services Department. All contactdetails can be found on the inside cover of the SimplifiedProspectus.Regular Savings Facility (‘RSF’)/monthly savingi. In order to participate in the Regular Savings Facility(‘RSF’) a duly completed Application Form must bereceived by the 15th of the month before the month inwhich the RSF will commence. The RSF will commence onthe first working day of the following calendar month.ii. Monthly contributions to purchase Shares are collectedon the first working day of each month. These will beinvested at the price calculated at the next ValuationPoint on the day on which the Direct Debit operates.Where this falls on a Saturday, Sunday or a public holiday,the price will be calculated on the next Dealing Day.iii. Regular Saving Facility holidays are permitted withoutpenalty at any time, on your written request.iv. To stop or amend your monthly contribution Direct Debityou must inform us at least seven working days ahead ofthe next collection date. Instructions to cancel or changea Direct Debit can be accepted by post, telephone or fax.v. You must notify changes to your nominated bank accountby submitting the completed direct debit form (includedwithin the Simplified Prospectus pack). We need to havereceived this form by the 15th of the month in order tocollect from the new bank account on the 1st (or firstBusiness Day thereafter) of the following month.vi. Direct Debit details during the initial set-up and uponsubsequent amendments will be disclosed to theregistered Shareholder of the OEIC. If the registeredShareholder and contributor are different people, pleaseensure that the contributor is aware that their detailswill be made available to the registered Shareholder inthe future. All statements will be sent to the registeredShareholder only, unless otherwise instructed by theregistered Shareholder.You must inform us immediately if you cease to be UK residentor ordinarily resident for tax purposes, or if being non-residentyou cease to qualify as a Crown employee, or the spouse/civilpartner of a Crown employee.An individual is ordinarily resident if he or she:• has always lived in the UK, or• normally lives abroad but regularly spends at least aquarter of his/her time here (91 days or more a tax year onaverage), or• normally lives abroad but has come to the UK for at least3 years, or• normally lives abroad but has come to the UK for anindefinite period and owns accommodation in the UK orrents UK accommodation on a lease of 3 years or more.8. APPLICATIONS MADE UNDER A POWER OF ATTORNEYi Applications made under a Power of Attorney must bemade in writing. Please ensure that:(a) You have enclosed an original Power of Attorneydocument OR a photocopy document with originalcertification on every page;(b) The Power of Attorney has been registered with theOffice of the Public Guardian where required;(c) Where registration with the Office of the PublicGuardian is not required, you have enclosed a letterof declaration from the client or an acceptablecertifier confirming that the Power of Attorney isvalid or a certified copy confirming that the Power ofAttorney is still valid;(d) You have provided notification of the client’s andattorney’s address together with a correspondenceaddress.For details of acceptable certifiers, please contact ourCustomer Services Department at the address shown on theinside cover of the Simplified Prospectus.9. INVESTMENT, HOLDING AND REDEMPTION LEVELSi. For all Funds:(a) The minimum initial investment is £500;(b) The minimum subsequent purchase or sale is £100; and(c) The minimum holding is £500;(d) The maximum annual investment for a stocks& shares ISA is £10,680 for the current tax year2011/2012.(e) The minimum Regular Savings Facility is £50 permonth.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 27

(f) The maximum you can invest monthly throughan ISA is £890 per month, for the current tax year2011/2012, if investing for 12 months in a stocks andshares ISA.Cheques must be drawn on a UK bank/building society accountin sterling. If your subscription is returned by your bankers asunpaid (for any reason), and settlement is not made within afurther seven days, we have the right to revoke your contractand claim from you any shortfall.10. TRANSFER OF SHARESInstructions to switch Funds may be placed by telephone, faxor in writing. Contact details can be found on the inside coverof the Simplified Prospectus.Non-ISA Register Shareholdersi. Shares may be transferred to another person by sending acompleted stock transfer form to us. Stock transfer formscan be obtained by contacting the Customer ServicesDepartment, contact details of which can be found on theinside cover of the Simplified Prospectus.ISA Register Shareholdersi. You have the right at any time to transfer your ISA toanother ISA Manager. If you wish to do this you mustsubmit to us a written instruction together with a letterof acceptance from your new ISA Manager. You maystipulate the period in which the transfer should becompleted. In any such case this period should not be lessthan 30 days. We only make the transfer in cash (ratherthan as Shares) following the sale of all Shares held thatyou wish to transfer.ii. In accordance with the ISA Regulations, if you wish totransfer:(a) an ISA for the current year, the transfer must bemade in respect of all the subscriptions made by youthat year; or(b) an ISA opened in respect of previous years, you maymake a transfer of the Account either in whole orin part.11. CANCELLATION RIGHTSIf you have received advice from a financial adviser you willhave the right to cancel within 14 days of receiving fromus a notice of your right to cancel. You cannot claim fullreimbursement if the purchase price of your investment fallsbefore we receive written confirmation that you wish to cancel.An amount equivalent to the fall in the price of the Shares, upto the date we receive such written confirmation from you, willbe deducted.12. LEGAL TITLE AND OWNERSHIPNon-ISA Register Shareholdersi. The title to registered Shares is evidenced by entry on theRegister. Details of your entry on the Register are availableon request.ISA Register Shareholdersi. Any investments made through an ISA will be, and mustremain, in your beneficial ownership and must not be usedas security for a loan. Documents evidencing title to theinvestments will be held either by us or as we shall direct.ii. The title to all ISA investments will be registered jointly inour name and your own.iii. If you so request we will arrange for you to be able toattend Shareholders’ meetings; vote; and receive, inaddition to the Annual Report and Accounts (see clause 13below), any other information issued to Shareholders inthe Company.iv. We will satisfy ourselves that any person to whomwe delegate any of our functions or responsibilitiesis competent to carry out those functions andresponsibilities.v. Certificates are not issued for any of our Funds.vi. We will maintain all such records relating to your Account,make such returns to the HM Revenue & Customs for thepurposes of taxation, and provide all taxation details toyou, as may be required under the ISA Regulations.13. DOCUMENTS YOU RECEIVEAnnual reports and interim reports for the Funds are sentto you (or the first named Shareholder in the case of jointShareholders). Copies of the most recent annual and halfyearlyaccounts may be inspected at, and copies obtained fromus. They may also be inspected at the Company’s Depositary’soffice during ordinary office hours or on the Aberdeen website.Non-ISA Register Shareholders:i. In the case of a purchase of Shares we will send you acontract note confirming details of your investment.Contract notes are not sent in the case of Regular SavingsFacilities.ii. Where there is any outstanding information in respect ofany application to purchase Shares, you may also receivea registration form which should be completed andreturned with your remittance, if outstanding.iii. You will also receive half yearly statements prepared asat 5 April and 5 October each year, and issued withintwenty-five business days. This statement will be preparedin accordance with the FSA Rules, and will show details ofall transactions effected during the previous six months,and include a valuation of your Account based on thesingle mid prices for OEICs, though will not include incomedistributions where Funds are priced ex-distribution.28 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

ISA Shareholders:i. We will acknowledge, in writing, your application to openan ISA or your request to transfer an ISA to us.ii. When you make an ad-hoc cash subscription to an ISAor in the case of the purchase of Shares following thetransfer to us of your ISA, we will send you a contractnote or acknowledgement of receipt of the first monthlypayment.iii. You will also receive a half-yearly statement preparedas at 5 April and 5 October each year, and issued withintwenty-five business days. This statement will beprepared in accordance with the FSA Rules, and will showdetails of all transactions effected during the previoussix months, and include a valuation of your Accountbased on the single mid prices for OEICs, though will notinclude income distributions where Funds are priced exdistribution.We may produce a consolidated statementcovering all ISAs that are held with us.iv. We will notify you if, by reason of any failure to satisfy theprovisions of the ISA Regulations, your Account has, orwill, become void.14. FEES & CHARGESFees and charges are as set out in the Prospectus andSimplified Prospectus.We reserve the right to discount or waive any charge in wholeor in part.ISA Register ShareholdersThere is no separate ISA charge. An Initial Charge on thepurchase of Shares is applied as detailed in the SimplifiedProspectus and Prospectus. However, we reserve the rightto introduce an additional charge in the future to cover anyadditional expenses incurred by us as a result of significantregulatory change. In any event no such charge will beintroduced without giving you 60 days’ written notice, and thischarge will not apply for the remainder of the tax year in whichnotice is given. If you are unhappy with the introduction ofsuch a charge you have the right to terminate this contract inaccordance with clause 21 below.15. COMMISSIONIf you make an investment through a financial adviser we willusually pay commission which will be detailed in contractnotes (or in the case of regular savers in periodic statements).You should inform us if your financial adviser changes toenable us to keep our records up to date.16. INCOMEi. If reinvestment of distributions is requested, theinvestment will be switched from income shares to theequivalent accumulation shares at no cost to you. Wherea reinvestment mandate is already held the distributionwill be reinvested in the same shareclass with no Initialii.Charge.If you terminate, or transfer your Account, any incomeaccruing will be paid as soon as practicable after receiptby us.ISA Register ShareholdersWhere you transfer an ISA to us we reserve the right to rejectincome distributions paid by your old ISA Manager afterthe date of transfer where these are less than £20. In thesecircumstances, the distribution cheque will be returned to yourold ISA Manager for re-issue directly to yourself.17. SUSPENSION OF DEALINGS IN A FUNDWith the prior approval of the Depositary, or if the Depositaryso requires, and if there is good reason in the interests of theShareholders or potential Shareholders, the issue, cancellation,purchase and sale of shares may be suspended for a period ofup to 28 days.Dealings in Shares in the relevant Fund will commence on thenext Valuation Point following the end of the suspension at theShare price calculated at that Valuation Point.Where any such suspension occurs, then, for ISAs, the timesstipulated under which a transfer or withdrawal is to takeplace, as set out in clauses 20 and 21 below, may be extendedto 7 days after the end of such suspension.18. VOTING RIGHTSYou will be invited to exercise voting rights in respect of anyShares held. You are entitled to attend Shareholder meetingsin person. At a meeting of Shareholders, on a show of hands,every Shareholder who is present in person or by properlyauthorised representative, has one vote. On a poll vote, aShareholder may vote either in person or by proxy. There willbe no annual general meetings for the Company.19. DEATHShares in the Funds form part of your estate and, on productionof the Death Certificate and Grant of Probate or Letters ofAdministration, Shares can be sold or re-registered in the nameof the executors, administrators of the estate, beneficiary or inthe name of the surviving Shareholder. Your ISA Account willcease to attract any tax benefits, and the assets will be held byus awaiting instructions from your personal representatives,who may direct that the Shares be sold or that they beregistered in the names of the appropriate beneficiaries, subjectto any restrictions relating to minimum holdings.20. SELLINGShares will be sold at the price calculated in accordance withthe FSA Rules as at the next regular Valuation Point afterreceiving valid instructions as follows:An instruction to sell may be accepted by post or fax dealing –for both ISA and non-ISA Shareholders , provided that:Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 29

(i) The instruction is given and signed by you (or allShareholders, where there is more than one Shareholder)or your appointed agent (such as a financial adviser) asrecorded on the Account;(ii) The cheque in settlement is made payable to you andissued to the address of the Shareholder as recorded onthe Register;(iii) We complete verification checks on you or your agentsuccessfully;(iv) In the event all Shareholders have not signed theinstruction, a Form of Renunciation will be required;An instruction to sell may be accepted by telephone dealingfor ISA Shareholders provided that:(i) The instruction is given by you or your appointed agent(such as a financial adviser) as recorded on the Account;(ii) The expected proceeds do not exceed £9,400 perShareholder per Valuation Point. If they do exceed thisamount then the instruction to sell must be made inwriting;(iii) The cheque in settlement is made payable to you andissued to the address of the Shareholder as recorded onthe Register;(iv) The address of the Shareholder as recorded on theRegister has not been amended within the 30 day periodprior to the instruction to sell;(v) We complete verification checks on you or your agentsuccessfully;Please note that if the above procedure is followed, aForm of Renunciation will not be required.An instruction to sell may be accepted by telephone dealingfor a non-ISA Shareholders provided that:(i) The instruction is given by you or your appointed agent(such as a financial adviser) as recorded on the Account;(ii) The cheque in settlement is made payable to you andissued to the address of the Shareholder as recorded onthe Register;(iii) The address of the Shareholder as recorded on theRegister has not been amended within the 30 day periodprior to the instruction to sell;(iv) We complete verification checks on you or your agentsuccessfully;(v) We are in receipt of written confirmation signed by allShareholders or a completed Form of Renunciation. TheForm of Renunciation will be issued to you by post within24 hours of the telephone deal being placed.In all of the above scenarios, the Shares will be dealt at theselling price calculated at the next Valuation Point followingour receipt of valid instruction(s). Settlement, by means ofa cheque, will be sent to you on the 4th Business Day (1stBusiness Day in the case of Aberdeen Cash Fund) following thedealing date or receipt of (when required) a completed Form ofRenunciation and all requested due diligence documentation,in line with the current UK Money Laundering Regulations,whichever is later. We reserve the right not to release therealisation proceeds until four Business Days after receipt ofa duly completed Form of Renunciation (where required).Ifyou are an ISA investor, upon the sale of Shares, the proceedsarising from their sale will be paid to you within any timestipulated by you (subject to the timings set out above).21. TERMINATIONThis Agreement may be terminated by you at any time bygiving written notice and by us at any time by giving you 30days’ written notice, but any termination will not prevent thecompletion of any transactions already initiated and will besubject to any such transactions being completed. We willmake such payments to you or otherwise as agreed. At yourrequest and within such time as should be stipulated by you,you may instruct us to transfer the holdings in your ISA to youat any time.In the event of your fraud, we may terminate this Agreementimmediately.If a withdrawal reduces the value of your ISA to below theminimum stated in the latest Simplified Prospectus, we maytreat the withdrawal as an instruction by you to terminate yourISA.If you are an ISA investor, on termination all investments heldin the ISA and proceeds arising from those investments willbe transferred or paid to you. When giving instructions fora transfer of or withdrawal from the ISA, you may stipulatea time within which such transfer or withdrawal should takeplace. The period specified in respect of ISA transfers ortransfers of your holding to you must be no less than 30 days,and for withdrawals is subject to the timings set out in clause20 above.Should we cease to act as an ISA Manager we shall be entitledto terminate this Agreement in respect of your ISA by givingyou 30 days’ written notice. You shall be entitled to transferyour Account to another ISA Manager or ISA Managers.Except in the case of an ISA where you are continuing to savemonthly, we reserve the right to terminate your Accountshould the value of your holdings fall below £500.Termination will not affect the completion of transactionsalready initiated which will be completed in accordance withthese Terms and Conditions, or any of your rights.On termination, you will not be charged other than thefollowing:i. any outstanding fees and charges due; andii. any losses necessarily realised in settling or concludingoutstanding obligations.30 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

Fees and charges are as set out in the Prospectus andSimplified Prospectus. We reserve the right to discount orwaive any charge in whole or in part.22. CLIENT ACCOUNTSAll monies and any other cash which we hold on your behalfas client money under the FSA Rules shall (except in so faras you agree to the contrary) be held in an interest bearingsterling deposit account. No interest is paid to clients inrespect of these monies. Interest earned is retained by usand offset against administration charges of the depositaccount. Such accounts may include the monies of otherindividuals participating in holding Shares. If a distribution to aShareholder remains unclaimed for a period of six years afterit has become due, it will be forfeited and will return to therelevant Fund.23. DELEGATION/appointment of new ISA managerWe may appoint a third party to act in respect of any functionrelevant to administration of your Account, though we mustsatisfy ourselves that any such third party is competent tocarry out those functions and responsibilities and we shallremain liable for the performance of such third party as if wewere carrying on the functions in question.We may appoint another company to be the ISA Manager inrelation to your Account under these Terms and Conditionson giving you one month’s notice. In the case of an ISA, thenew ISA Manager must have been approved to act as an ISAManager by HM Revenue & Customs.24. LIABILITY & INDEMNITYWe and our directors, officers, employees or agents do notaccept any liability for loss, including loss of profit, costs, taxesor expenses suffered or incurred by you as a result of or inconnection with the provision of services under these Termsand Conditions by us, unless, and then only to the extent that,such loss, costs, taxes or expenses are caused by negligence,fraud, breach of contract or wilful default on our part or onthe part of any of our associates in the provision of services.In addition, we do not seek to exclude or restrict any duty orliability which we may have to you under the FSA Rules.We do not guarantee any particular investment performanceand will not be responsible for any loss of opportunity wherebythe value of your investments could have been increased orfor any decline in the value of your investments unless suchdecline or loss is the direct result of our negligence, fraud,breach of contract, wilful default or a failure by us to complywith your instructions properly given to us or our agents.You will be responsible for any loss arising as a result of ouracting upon your instructions. We may rely upon any notice,permission, request or instruction we reasonably believe tobe genuine or to be signed by properly-authorised individuals.We may decline to accept or act upon any instruction or othercommunication which we reasonably believe not to have beenvalidly provided and, where practicable, we will provide youwith written notification of this. In such cases, we will not beliable for any losses (including adverse market movements),damages or costs incurred by you or by any third party as aresult.You will be responsible for any applicable taxes payablein respect of any gross (i.e. received without deduction ofany tax) distribution or accumulation received by you inaccordance with your instructions (including a request tosubscribe for a gross distributing/accumulating class of shares)and any interest on overdue tax, penalties or other reasonablecosts that are payable by the relevant investment companyas a result of your not being eligible or ceasing to be eligibleto receive gross distributions (except in circumstances whereany such amount arises as a result of our negligence, breach ofcontract or fraud).We will not be in breach of these Terms and Conditions, andwill not be liable for any loss or damage incurred by you asa result of any total or partial failure, interruption or delayin performance of our duties and obligations occasioned byany reason beyond our control, including but not limited toan act of God, fire, act of government, state, governmentalor supranational body or authority, war, civil commotion,terrorism, failure of any computer system, interruptions ofpower supply, or labour disputes of whatever nature.25. COMPLAINTSIf you have any complaint in respect of the operation of theseTerms and Conditions or your investment in general, thisshould be made in writing to the Complaints Team, AberdeenUnit Trust Managers Ltd, 10 Queen’s Terrace, Aberdeen, AB101YG. A leaflet detailing our complaints procedures is availableon request.If the complaint is not resolved by us to your satisfaction thenyou may take your complaint to the Financial OmbudsmanService. In order to contact the Financial Ombudsman Serviceor obtain details of the compensation scheme you should writeto The Financial Ombudsman Service, South Quay Plaza, 183Marsh Wall, London, E14 9SR or telephone 0845 080 1800.26. COMPENSATIONIf you make a valid claim against us in respect of theinvestments we buy or sell on your behalf, and we are unableto meet our liabilities in full, for example if we becomeinsolvent, you may be entitled to redress from the FinancialServices Compensation Scheme (FSCS). Details are availablefrom the FSCS Helpline on 0800 678 1100 or 020 7741 4100and on the FSCS website: www.fscs.org.uk.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 31

27. CORRESPONDENCEAll written notices and all other documents andcorrespondence should be sent to Aberdeen Unit TrustManagers Ltd, Freepost RLTZ-CKGZ-ESTA, PO Box 9029,Chelmsford, CM99 2WJ.Any letter or document from us sent by post will be deemedto have been served on the second Business Day followingthat in which it is posted and service will be sufficientlyproved if there is evidence that the envelope containing theletter or document was properly addressed, stamped andposted.28. DATA PROTECTION ACTWe may record and use any information held about youin the course of our relationship with you. We will shareinformation about you with other members of the AberdeenAsset Management group of companies. We will treat yourinformation as private and confidential and your details,including dealings with us, will not be disclosed to anyoneexcept where we or any third party acting on our behalf arelegally compelled or permitted to do so. We may engageservice providers who may have access to and may use yourinformation to provide these services on our behalf. We, orthird party service providers, may outsource certain activitiesto parties (including our group companies) based outsidethe European Economic Area. Should these activities involvethe use of your personal data, you may not be afforded thesame protection as you have under the Data Protection Act1998. However, we will ensure that information relating toyou is used by service providers only in accordance with yourinstructions and in confidence. We may contact you by post,telephone or e-mail to inform you about our products andservices that we consider may be of interest to you. If youwish to be contacted for marketing purposes, you should tickthe appropriate box on the Application Form. You have theright to access your information at any time to check whetherit is accurate and up-to-date and you should write to us if youwish to do so. Contact details can be found on the inside coverof the Simplified Prospectus.29. MONEY LAUNDERINGWe may be required to check the identity of investors in orderto comply with UK money laundering legislation. This involvesobtaining independent documentary evidence confirmingidentity and permanent residential address. This may involvean electronic check of information. By signing an ApplicationForm you will give us the right to access such information orthe purposes of the Data Protection Act 1998. Any “BeneficialOwners” must be identified on the Application Form or on adeclaration form issued after the original investment:A Beneficial Owner is, very broadly, an individual whoultimately owns or controls an investor or on whose behalf aninvestment is being made. For the purposes of these Termsand Conditions a “Beneficial Owner” can be summarisedas follows:• the registered investor - this must be confirmed.• another person or persons not listed as an investor buton whose behalf an investment is being made - the fullnames must be provided.• a body corporate - the full names of any persons thatultimately own or control (whether through director indirect ownership or control, including bearershare holdings) more than 25% of the shares or thevoting rights in the body, or exercises control over themanagement of the body.• a partnership - the full names of any persons thatare ultimately entitled to or control (whether theentitlement or control is direct or indirect) more than a25% share of the capital or profits of the partnership ormore than 25% of the voting rights in the partnership,or exercises control over the management of thepartnership.• a trust or charity - the full names of those individuals whoare entitled to 25% or more of the trusts assets or theclass or person must be detailed, or any individual whohas control over the trust.You must inform us of any changes to the identity and detailsof Beneficial Owners as soon as possible.We reserve the right to refuse any application to invest if, inour reasonable opinion, we do not obtain sufficient evidenceto confirm the identity of investors, including BeneficialOwners.Failure to provide any documentation requested in respectof any instruction to sell (in accordance with clause 20) mayresult in a delay in the realisation proceeds being released.30. AMENDMENTWe may from time to time change these Terms and Conditionsby giving 30 days’ prior written notice of any change to you.If you are unhappy with any change made to these Terms andConditions you have the right to terminate your contract inaccordance with clause 21.31. GOVERNING LAWThese Terms and Conditions are governed by English law.Contractual obligations are provided in English, and allcommunications will be in English.Issued and approved by Aberdeen Unit Trust ManagersLimited. Registered Office: Bow Bells House, 1 BreadStreet, London EC4M 9HH. Authorised and regulated bythe Financial Services Authority in the United Kingdom.A member of the Aberdeen Asset Management groupof companies.32 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

GlossaryAberdeen OEICAccountAMCApplication FormAuthorised Corporate Director or ACDBusiness DayCharges from Income/CapitalThe CompanyDealing DayDebt and debt-related securitiesDepositaryEmerging MarketsEquity and Equity-Related SecuritiesEx-Dividend DateForm of RenunciationFrontier MarketsFSAFSA RulesFund or FundsICVCInitial ChargeInstrument of IncorporationInterest/Dividend DistributionInvestment gradeInvestment ObjectiveAberdeen Investment Funds ICVC; the Company.An investment held under these Terms and Conditions.Annual Management Charge. A full explanation is available elsewhere in the SimplifiedProspectus under the heading “Charges and Expenses”.The application forms set out in this Simplified ProspectusAberdeen Unit Trust Managers Limited or such other person as may be appointed toprovide the services of Authorised Corporate Director.Means a day which is a business day in London, UK.Indicates whether charges are taken from the income or capital of the Fund in the firstinstance. For a full explanation please refer to the section elsewhere in the SimplifiedProspectus under the heading “Important - Risk Factors”.Aberdeen Investment Funds ICVC, the Aberdeen OEIC.Any day in which banks in London are open for business.Includes but is not limited to convertible and non-convertible corporate debt securities,preferred securities, fixed and floating rate bonds, zero-coupon and discount bonds,debentures, certificates of deposit, bankers acceptances, bills of exchange, commercialpaper and treasury bills.National Westminster Bank plc or such other person as may be appointed as Depositary.In investment terms, Emerging Markets are countries such as Brazil, Mexico and Malaysiaas well as other undeveloped regions of the world. They are known as Emerging Marketsbecause typically they are still developing their economies.Includes but is not limited to equities, depository receipts, convertible securities, preferredshares, equity linked notes (debt securities linked to the performance of an equity) warrantsand bonds convertible into common or preferred shares.Each sub-fund has an ex-dividend date (XD Date). The XD date is the date you need toinvest by to receive the first income payment or distribution from a Fund that aims toprovide income. After the XD date, you are not entitled to that particular income payment.A form used when investors sell Shares in OEICs. If you sell Shares in the Company, youmust ‘renounce’ the Shares held by completing and signing a form of renunciation.These are the least developed of the Emerging Markets. Jamaica and Kenya are examplesof countries that are considered to be Frontier Markets.The Financial Services Authority.The rules of the FSA as amended from time to time.A sub-fund of the OEIC to which specific assets and liabilities of the Company are allocatedand whose property is pooled separately from that of the other sub-funds and which ismanaged in accordance with the investment objective applicable to that sub-fund.Investment Company with Variable Capital. “Variable Capital” means there may be anincrease or decrease in the amount of capital in the investment company.A full explanation is available elsewhere in the Simplified Prospectus under the heading“Charges and Expenses”.The document on the basis of which the Company is incorporated.Indicates whether an interest or dividend distribution is paid.An investment grade security is an investment instrument which offers evidence ofdebt and is issued by an organisation that has a strong balance sheet and considerablecapitalisation.Each Fund has an objective that is summarised elsewhere in the Simplified Prospectusunder the heading “Key Fund Data for Aberdeen UK OEIC Funds (Class A Shares)” and setout in full in the full Prospectus.Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 33

ISAISA ManagerISA RegulationsLatin AmericaNet Asset Value or “NAV”OEICAn Individual Savings Account.A firm which has been approved by HMRC to act as an ISA manager.The Individual Savings Account Regulations 1998 and any other applicable regulationsmade by HM Treasury concerning ISAs.Principally Brazil, Mexico, Chile, Columbia and Peru.The value of the scheme property of the Company or as appropriate, of any Fund less theliabilities of the Company (or of the Fund concerned) as calculated in accordance with theCompany’s Instrument of Incorporation.Open-Ended Investment Company.OEIC Regulations The Open-Ended Investment Companies Regulations 2001.Payment DatePower of AttorneyProspectusPTRRegisterRetail SharesRIYRSFShareShareholderShare PriceSimplified ProspectusSpecific RisksSupranationalTERValuation PointYou and YourWe, us and ourIncome is paid or accumulated on this date.A legal authority that lets one person select another person to act on their behalf.The Aberdeen Investment Funds ICVC Prospectus.Portfolio Turnover Rate. This is the rate at which the manager buys and sells stocks withina Fund. For a full explanation, please refer to the section elsewhere in the SimplifiedProspectus under the heading titled “Charges and Expenses”.The register of shareholders in a Fund.Available to all investors, with minimum investment levels as indicated in this document.Reduction in Yield. A way of expressing how the charges and expenses will affect theinvestment, this takes into account the initial charge and the TER.Effective reductions in investment growth are from 6% for direct investments, with theexception of the Aberdeen Cash Fund which are from 4%. For a full explanation and workedexamples, please refer to the section titled “Charges and Expenses”.Regular Savings Facility or monthly saving.A Share in a Fund including larger and smaller denomination shares, with each smallerShare representing a one thousandth part of a larger Share.A shareholder whose name and address appears on the Register.The price of a Share of each Class in a Fund, calculated by reference to the value of theproperty of the Fund to which it is linked as at the relevant Valuation Point.The Aberdeen UK OEIC Fund Range Simplied Prospectus.The specific risks relating to each of the Funds. For a full explanation of these risks pleaserefer to the section elsewhere in the Simplified Prospectus under the heading “Important -Risk Factors”. Please consider these carefully before you choose to invest.An international organisation, or union, in which member states go beyond nationalboundaries of interest to share the decision making and vote on issues that relate tothe wider grouping. Examples of this are European Investment Bank and World TradeOrganisation.Total Expense Ratio. A full explanation is available under the Section titled “Chargesand Expenses”.12 noon on any Dealing Day.A Shareholder in a Fund.Aberdeen Unit Trust Managers Limited, which is authorised and regulated by the FSA in theconduct of investment business. Our registered office is Bow Bells House, 1 Bread Street,London, EC4M 9HH.34 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011 35

36 Aberdeen UK OEIC Fund Range Simplified Prospectus, August 2011

DirectoryAUTHORISED CORPORATE DIRECTORAberdeen Unit Trust Managers LimitedThe Authorised Corporate Director of the Aberdeen ICVC isAberdeen Unit Trust Managers Limited, a company limited byshares and incorporated in England and Wales on 7 November1962, registered no. 740118. Authorised and regulated by theFinancial Services Authority in the United Kingdom.Head Office:10 Queens TerraceABERDEENAB10 1YGRegistered Office:Bow Bells House1 Bread StreetLondonEC4M 9HHINVESTMENT ADVISERSAberdeen Asset Managers Limited, 10 Queens Terrace, Aberdeen,AB10 1YG. Authorised and regulated by the FSA.Aberdeen Asset Management Asia Limited. Registered Office:36 Robinson Road, 18-01 City House, Singapore, 068877. Principalplace of business: 21 Church Street, #0-01 Capital Square Two,Singapore, 049480. Registered with the Monetary Authority ofSingapore and thereby authorised to act as investment adviser.Aberdeen Fund Management Limited, Bow Bells House, 1 BreadStreet, London EC4M 9HH. Authorised and regulated bythe FSA.DepositaryNational Westminster Bank plcTrustee & Depositary Services50 South Gyle CrescentEdinburghEH12 9UZLegal AdvisersEversheds LLPOne Wood StreetLondonEC2V 7WSAuditorsKPMG Audit PLCSaltire Court20 Castle TerraceEdinburghEH1 2EGRegistrarInternational Financial Data Services (UK) LimitedIFDS HouseSt. Nicholas LaneBasildonEssexSS16 5FS(the register of shareholders can be inspected at this address)Aberdeen Fund Managers, Inc. Registered Office: 103 SpringerBuilding, 3411 Silverside Road, Wilmington, County of New Castle,Delaware, 19810. Principal place of business: 300 SE 2nd Street,Suite 820, Fort Lauderdale, Florida, 33301. Registered with theSecurities and Exchange Commission and thereby authorised to actas investment adviser.Note: Aberdeen Unit Trust Managers Limited, Aberdeen AssetManagers Limited, Aberdeen Asset Management Asia Limited,Aberdeen Fund Management Limited and Aberdeen FundManagers, Inc. are wholly owned subsidiaries of Aberdeen AssetManagement PLC, and are accordingly associates.

Issued and approved by Aberdeen Unit Trust Managers Limited. Registered Office: Bow Bells House, 1 BreadStreet, London EC4M 9HH. Authorised and regulated by the Financial Services Authority in the UnitedKingdom. A member of the Aberdeen Asset Management group of companies.03_4013_08112504062