Dunedin Income Growth Investment Trust ISA and Share Plan

aberdeen.asset.com

Dunedin Income Growth Investment Trust ISA and Share Plan

Find out more at dunedinincomegrowth.co.ukDunedin Income Growth has the freedomto go in search of well-run UK companiespaying a strong dividend streamDunedin Income Growth Investment Trust ISA and Share Plan3


Investor Helpline: 0500 00 00 40Dynamic and flexible– the benefits of investment trustsThe structure of investment trusts makes them good for investorswho want to access the potential of the UK stock market and whoare happy to accept the risks of equity investment.One company – dozens of opportunitiesInvestment trusts are companies that invest in other companies’ shares.So, in effect, one investment trust provides instant exposure to a broadportfolio of investments – giving greater investment diversification thanmost private investors could achieve by investing in those companies directly.As pooled investments, investment trusts generally offer a more diversifiedexposure to equities than owning an individual share, thus generallyreducing risk. However, unlike a bank account or building society savingsaccount, your capital is at risk. Therefore most investors invest for overfive years, as the volatility of returns can, but may not, reduce over time.Your independent boardManaging a portfolio of investments takes skill, resources and a thoroughknowledge of the markets in which you invest. With an investment trust,our investment knowledge and experience becomes yours.What makes investment trusts different from other types of investmentfund is that the fund managers are appointed by the trust’s board and canbe changed if the manager fails to perform.In other words, the fund managers constantly have to prove why they shouldbe running the portfolio – a great incentive to deliver strong performance.A structure for long-term visionInvestment trusts are often referred to as ‘closed-end’ funds becausethey have a fixed number of shares in issue. Whereas ‘open-ended’ fundslike unit trusts are constantly changing size as investors come and go,investment trusts have a stable asset base. Such stability can strengthenperformance as fund managers can remain fully invested if they so wish.Another potential benefit is the ability to take a long-term view ofinvestments and invest in more specialist areas of the market, withoutthe pressure to liquidate holdings if investors want their cash.But please note that it also means that the share price of an investmenttrust is driven by market demand for the fixed number of shares in issue.This means the shares can trade at a price above (at a ‘premium’)or below (at a ‘discount’) the value of the trust’s underlying portfolioor ‘Net Asset Value’.4 Dunedin Income Growth Investment Trust ISA and Share Plan


Find out more at dunedinincomegrowth.co.ukBuilding an income bufferInvestment trusts have the ability to put some of their income aside,in good years, as reserves. This means investment trusts can reducevolatility of income returns in times of turbulent markets, such as allowingtheir dividend levels to be maintained, by drawing on these reserves,even when the underlying companies may be cutting their own dividend.This flexibility to build reserves distinguishes investment trusts from otherpooled vehicles, such as unit trusts, which have to pay out all their income.Gearing – increasing reward potentialAs public limited companies, investment trusts have more freedom thanother types of investment fund. Most notably, they can borrow money –a practice known as gearing or leverage. Investing the borrowings canpotentially increase returns for shareholders – and can allow the fundmanagers to increase exposure to take advantage of investmentopportunities as and when they arise.However, gearing can also potentially magnify investment losses andtherefore needs to be sensibly managed. Dunedin Income Growth hasa conservative gearing policy. Gearing cannot exceed more than 30%of net assets and stood at 7.5% as at 30 June 2014.Accountability – have your sayWhen you buy shares in an investment trust, you become a shareholderand that gives you particular entitlements – just like any shareholderof a public limited company.You can expect the board of the investment trust to work in your bestinterests. You are entitled to receive the investment trust’s annual reportand accounts. You get full voting rights and can attend the Annual GeneralMeetings (AGMs).Important features to rememberAs we’ve explained, the company structure of an investmenttrust has lots of advantages but there are some implicationsyou need to be aware of:The trust’s share price can fall as well as rise – just likeany publicly traded shareAny income payments (‘dividends’) can vary and arenot guaranteed.The share price won’t necessarily reflect theunderlying portfolioUnlike funds such as OEICs and unit trusts, the trust’s sharesmay be worth more or less than the underlying portfolio,depending on market demand. This is because there is a fixednumber of shares in issue.Gearing can increase riskAs we’ve explained opposite, gearing provides a flexible wayto increase potential returns. It also increases risk and truststhat use a lot of gearing can see significant swings in value.Be sure you are happy with the level of gearing in a trustbefore you invest.Share price liquidityAt times there may be low demand for shares which mayaffect their price.The AGM is an opportunity for investors to hear from the Chairman andBoard of Directors and vote on any resolutions presented for the trust.It will also typically include a presentation by the trust’s manager. So asa shareholder, you have an active say in how your investment is managed.Dunedin Income Growth Investment Trust ISA and Share Plan5


Investor Helpline: 0500 00 00 406 Dunedin Income Growth Investment Trust ISA and Share Plan


Find out more at dunedinincomegrowth.co.ukHow Dunedin Income Growthseeks out its returnsBy investing in high-quality, well-managed companies predominantlylisted in the UK, Dunedin Income Growth Investment Trust is positionedto help its shareholders potentially achieve a steady income.Aiming for steady, growing returnsIncome seekers need reliability. So Dunedin Income Growth is managedto try to deliver a steady, long-term income that has the potential to riseover time.At the heart of Dunedin Income Growth’s investment process is therigorous research-based stock selection for which Aberdeen AssetManagement is renowned.Aberdeen’s approach is based on investing in quality companies at theright price. For Dunedin Income Growth, this means selecting companiesthat, in the management team’s view, have strong balance sheets andthe earnings power to pay increasing dividends year after year.To enhance potential returns, Dunedin Income Growth also looks tomake intelligent use of gearing (i.e. borrowing money) – while seekingto ensure that it does not expose shareholders to excessive risk of loss.Quality companies at the right priceWith total assets of more than £477 million (as at 31 May 2014),Dunedin Income Growth offers the opportunity to share in the fortunesof a wide range of UK companies from a diverse selection of industries.The Aberdeen approach focuses on taking long-term positions in companiesthat the management team feel they fully understand and can clearly value.The Aberdeen approach• Our regional equity team do all their own researchand analysis – we don’t employ separate analyst teamsor rely on third-party broker research to make ourinvestment decisions.• Every company is subject to a rigorous assessmentbefore we invest in its shares.• We recognise that thorough knowledge of each andevery one of our holdings is our most effective formof risk control.Share price performanceand portfolio holdings foreach trust can be foundin the profiles bookletTypically Aberdeen’s highly-experienced fund managers carry out 500-600company visits in the UK and Europe every year to seek out those companiesthat pass Aberdeen’s stringent quality requirements.Once a company has entered the Aberdeen investment universe, the teamwill only invest when they feel its shares are fairly priced relative to its peersand the company’s future earnings prospects.Dunedin Income Growth Investment Trust ISA and Share Plan7


Investor Helpline: 0500 00 00 40Discover the trust withlong-term attractionsA diversified portfolio, a strong income track recordand highly competitive charges make Dunedin IncomeGrowth of interest to investors taking a long-term view.Diversified sources of incomeDunedin Income Growth is a highly-diversified portfolio covering a broadrange of industries that can range from oil and gas to healthcare, financialsand consumer goods.As the portfolio is not constrained by benchmark index weightings, themanagement team can ensure that the trust is not over-exposed to thosesectors that dominate the UK stock market.However, with a focus on major UK companies, Dunedin Income Growthoffers exposure to some of the world’s biggest multinationals. In this way,it offers a means to tap into the potential not only of the UK but the wholeglobal economy.Income and growth potentialBy investing in strong, income-generating companies, Dunedin IncomeGrowth has been able to deliver rising or maintained dividends to itsshareholders for over 15 years (see graph below).But it also has the potential to achieve capital growth as well throughincreases in its share price. In fact, the fund has achieved increases in itsnet asset value (NAV) in 9 out of the last 15 years.Please note, however, that as a stock market investment, it is importantto appreciate that future share price growth potential and the trust’sdividend payments are not guaranteed and can fall as well as rise.There is a risk that you may get back less than the amount invested.Competitive chargesOn some investments, charges can be a big drag on performance.Investment trust companies are governed by an independent board ofdirectors, one of whose functions is to ensure the costs of running thecompany and its internal charges are competitive. Lower charges meanmore of the investors’ money is working as an investment.We believe that the charges on Dunedin Income Growth are competitive.The Association of Investment Companies (AIC) identifies that in itspeer group of 25 other UK equity income trusts, Dunedin IncomeGrowth currently has one of the lowest ongoing charges in its sector.According to the AIC the sector average ongoing charges figure is 0.74%and Dunedin Income Growth’s is 0.60% (data as at 6 August 2014).Dividends12Net Asset Value as at 30 June300Pence108646.356.556.757.007.257.558.209.0010.0010.2510.2510.2510.6510.7511.10Pence250200150100243.4271.2231.5155.2205.0233.2253.2296.1254.7160.5201.4230.1226.4255.8267.2250000 01 02 03 04 05 06 07 08 09 10 11 12 13 14000 01 02 03 04 05 06 07 08 09 10 11 12 13 14YearYearSource: Aberdeen Asset Managers Limited. Past performance is not a guide to future results. The value of investments,and the income from them, can go down as well as up and you may get back less than the amount invested.8 Dunedin Income Growth Investment Trust ISA and Share Plan


Find out more at dunedinincomegrowth.co.ukInvesting in UK multinationals helps giveDunedin Income Growth a global perspectiveDunedin Income Growth Investment Trust ISA and Share Plan9


Investor Helpline: 0500 00 00 40Three ways to invest– choice and flexibilityInvesting in Dunedin Income Growth Investment Trust couldn’t be easier. Just choosewhether you want to invest through our Share Plan, our tax-efficient ISA or makean ISA transfer. All Aberdeen’s Plans aim for lower costs for the self-directed investor.1. Share PlanThe simple and flexible way to investIf tax efficiency isn’t an issue – or if you’ve already invested yourISA allowance – then our Share Plan is the way for you to invest.Quite simply it buys and sells shares on your behalf using a securenominee account. You can invest as much as you wish either in one-offlump sums or by making monthly contributions by direct debit.We believe that the Share Plan is good value, with no initial Plancharge on purchases (although the value of your shares will be affectedby the bid-offer spread on the share price) and a simple £10 (plus VAT)administration charge when you sell. Like all shares, government stampduty is payable on share purchases.Furthermore, if you invest a lump sum of £250 or more into a trust,we’ll invest it for you the next working day, so it can start working for youas soon as possible. As with any equity investment, the value of sharespurchased in the Share Plan will be reduced by the bid-offer spread.2. Individual Savings Tax efficientAccount (ISA)The tax efficient way to investISAs allow us each to save and invest without paying any personal taxon any income or profits we make on our investments.We offer a Stocks and Shares ISA. This allows you to invest your whole ISAallowance in Aberdeen investment trusts, subject to a minimum investmentof £1,000 lump sum or £100 per month per trust.The ISA rules are subject to change and their tax advantages could varyin the future. ISAs can shelter your investments from capital gains tax andpersonal income tax. Inheritance tax may still be payable when you die.As with any equity investment, the value of shares purchased in an ISAwill be reduced by the bid-offer spread on the share price.Lump sum minimum£250 per trustLump sum minimum£1,000 per trustMonthly savings minimum£100 per trust AMonthly savings minimum£100 per trustMaximum investmentNo maximumStocks and Shares ISA max.£15,000 AChargesPurchases NIL plus 0.5%government stamp dutySalesAnnual charge£10 (plus VAT) per holdingOnly Dunedin IncomeGrowth Investment Trust’sfund management andoperating expensesPlease remember that Dunedin Income Growth Investment Trustwill have its own charges and expenses. The trust’s Ongoing ChargesFigure (OCF), as at the date of its last annual report, was 0.60%.Please refer to the table showing OCFs in the Key Features documentfor further information.AFirst contribution can be higher than subsequent contributions, if you wish.ChargesPurchases NIL plus 0.5%government stamp dutySalesAnnual charge£15 (plus VAT) per holding£24 (plus VAT) per annum,regardless of how many AberdeenInvestment Trust ISAs you hold, plusDunedin Income Growth InvestmentTrust’s fund management andoperating expensesPlease remember that Dunedin Income Growth Investment Trustwill have its own charges and expenses. The trust’s Ongoing ChargesFigure (OCF), as at the date of its last annual report, was 0.60%.Please refer to the table showing OCFs in the Key Features documentfor further information.AThe maximum sum for an ISA investment is £15,000 for the current tax year until 5 April 2015.10 Dunedin Income Growth Investment Trust ISA and Share Plan


Find out more at dunedinincomegrowth.co.uk3. ISA Transfer Tax efficientBring new life to your old ISAsIf you have an existing ISA, you can invest the money with us by makingan ISA transfer.We do not offer a Cash ISA but we will accept transfers from existingCash ISAs into our Stocks and Shares ISA.To make a formal ISA transfer, you need to complete the forms includedat the back of this brochure. We will then liaise with the old ISA manager(s)to move the funds into the Aberdeen investment trusts of your choice.Please note that you must use these ISA transfer forms in order to ensurethat you retain the tax efficient ISA wrapper around your newly chosenAberdeen investment trusts. As with any equity investment, the valueof shares purchased in the ISA will be reduced by the bid-offer spreadon the share price.Minimum transfer value £1,000Maximum transfer valueChargesNo maximumPurchases NIL plus 0.5%government stamp dutySalesAnnual charge£15 (plus VAT) per holding£24 (plus VAT) per annum,regardless of how many AberdeenInvestment Trust ISAs you hold, plusDunedin Income Growth InvestmentTrust’s fund management andoperating expensesPlease remember that Dunedin Income Growth Investment Trust will haveits own charges and expenses. The trust’s Ongoing Charges Figure (OCF),as at the date of its last annual report, was 0.60%. Please refer to the tableshowing OCFs in the Key Features document for further information.Key FeaturesPlease see the Key Features document for the effectof charges on your investment.Remember that investment trusts have a bid-offer spread– the difference between the buying and selling price at anyone time – which will vary in size between different trustsand at different times.Keeping you informedOnce invested, we aim to keep you closely informed aboutyour investment and its progress. You’ll receive from us:Half-yearly account statementsDetails all shares bought and sold over the past six monthsand provides a valuation of your holding(s).Annual report and accountsIncludes a fund manager’s performance review and outlook,the board chairman’s statement and full details of thecompany’s balance sheet, earnings and current holdings.Interim reportProvides a half-yearly update between the annual reportand accounts.WebsiteWe post monthly reports on the trust’s website, whichcan be found at dunedinincomegrowth.co.ukThe website also contains a wealth of information andperformance data about the trust, which is updated daily.You can access online valuations, top up your existinginvestments, make withdrawals and switch investmentsvia our secure website. You can also watch webcastsby our fund managers.Dunedin Income Growth Investment Trust ISA and Share Plan11


Investor Helpline: 0500 00 00 40Your next stepsOnce you have read the Key Features documentand the Terms and Conditions in full, investingin Dunedin Income Growth is simple.1. Decide how much money you wish to investin Dunedin Income Growth Investment Trust.2. Decide if you wish to invest via an ISA,Share Plan or ISA Transfer.Aberdeen’s investment trustcentre at invtrusts.co.uk hasa host of information, top tenholdings, news and reviewsby our fund managers.Dunedin Income Growth’s own websiteis at dunedinincomegrowth.co.uk3. Complete the relevant application form(and Direct Debit Form for monthly savingsinvestment) and return it in the reply-paidenvelope provided.Financial advicePlease remember that past performance is not a guide to future results.The value of your investments, and the income from them, can go downas well as up and you may get back less than the amount invested.We recommend that you seek financial advice prior to making aninvestment decision.The attached documents are provided in the English language and wewill continue to communicate with you in English. Issued by AberdeenAsset Managers Limited, which is authorised and regulated by the FinancialConduct Authority in the United Kingdom. Aberdeen Asset ManagersLimited is entered on the Financial Services Register under registrationnumber 121891. Your dealings with Aberdeen Asset Managers Limited,both before and after you have made an investment with us, will beconstrued and governed in accordance with English law.Disputes arising under, out of or connected with your dealings withAberdeen Asset Managers Limited will be subject to the exclusivejurisdiction of the English courts.This brochure is only intended for the person to whom it is given orsent and may not be reproduced, copied or given to any other person.This brochure is not an invitation to subscribe for shares in any of theTrusts mentioned herein.Subscriptions will only be received and shares issued on the basis ofthe current Key Features documents for each Trust. Copies of thesecan be obtained from 10 Queen’s Terrace, Aberdeen, AB10 1YG.12 Dunedin Income Growth Investment Trust ISA and Share Plan


Investor Helpline0500 00 00 40Open Monday to Friday 9am-5pm121016169Dunedin Income Growth Investment Trust ISA and Share Plan 13


06 2008_0814


Aberdeen Investment TrustsISA, Share Plan andInvestment Plan for ChildrenKey FeaturesTerms and ConditionsSeptember 2014The Financial Conduct Authority is the independent financial services regulator. It requires us, Aberdeen Asset Managers Limited,to give you this important information to help you decide whether the Aberdeen Investment Trusts ISA, Share Plan andInvestment Plan for Children (“The Plans”) are right for you. You should read this document carefully so that you understandwhat you are buying, and then keep it safe for future reference.


Aberdeen Investment TrustsISA, Share Plan and Investment Plan for ChildrenContentsKey FeaturesThe aims of the Aberdeen Investment Trusts 01Your commitment 02Important – Risk factors 03Your questions answered 05How will charges and expenses affectmy investment? 10Other important information 13Terms and ConditionsTerms and Conditions of the ISA, Share Planand Investment Plan for Children 15Aberdeen Investor Helpline A :0500 00 00 40(Available between 9.00 am and 5.00 pmMonday – Friday)Aberdeen Brochure Request Line0500 00 40 00(Available between 9.00 am and 5.00 pmMonday – Friday)Email: inv.trusts@aberdeen-asset.comWeb: invtrusts.co.ukAdministration Address:Aberdeen Investment TrustsPO Box 11020ChelmsfordEssexCM99 2DBTelephone calls will normally be recorded and may bemonitored for your protection.AInvestor Services staff are not permitted to give advice on the merits of investing inThe Plans, which may not be appropriate for all private investors. If you are at allunsure whether to make a plan investment you should contact a Financial Adviser.AimsThe Aberdeen Investment Trusts Share Plan, Individual SavingsAccount (ISA) and Investment Plan for Children (“The Plans”)can play a valuable role in financial planning, helping youprepare for retirement, invest for the long term or receiveregular income. The Plans give you the opportunity to investa sum of money in the stock market for as long as you choose,with the aim of increasing the value of your investment. Theyallow you to invest a lump sum or a regular monthly amount.All three Plans offer you the opportunity to invest in the sharesof a range of investment trusts offered by the Aberdeen Group.Throughout this document, where we refer to investment trusts,please note that this definition includes, for the purpose ofconvenience, both investment trusts and London StockExchange-listed investment companies. The Plans allow youthe flexibility to switch between funds once you have invested.Please note that you should not interpret anything in thisKey Features document as financial advice.The aim of the Investment Trusts ISAThe aim of the Aberdeen Investment Trusts ISA is to generateincome and / or capital growth within a tax-efficientinvestment environment.The aim of the Investment Trusts Share PlanThe aim of the Aberdeen Investment Trusts Share Plan is to offera convenient and flexible route to invest in order to generateincome and / or capital growth.The aim of the Investment Plan for ChildrenThe aim of the Aberdeen Investment Plan for Children is tooffer an easy and flexible way to invest in order to generatecapital growth for a child.If, having read the Key Features document, you haveany questions about The Plans please call the AberdeenInvestor Helpline.Prior to making your investment decision, you should giveparticular thought to:• whether the investment meets your financial objectives;• the risk factors associated with the trust(s) you have chosen;• the level of risk you are comfortable with, remembering thatthe higher the risk the greater the chance that you might notget back what you have invested; and• the effect that charges will have on the performance of yourinvestment over the longer term.121007519


The aims of the Investment TrustsThe investment aims of each of the Investment Trusts available through The Plans can be found below. Please refer to eachtrust’s Annual Report & Accounts for full information on investment objectives.United KingdomDunedin Income Growth Investment Trust: aims to achieve growth of income and capital from a portfolio invested mainly in theUnited Kingdom.Murray Income Trust: aims to achieve a high and growing income combined with capital growth through investment in a portfolioof principally UK equities.Shires Income: aims to provide a high level of income together with growth of both income and capital from a portfoliosubstantially invested in UK equities.United Kingdom High IncomeAberdeen Smaller Companies High Income Trust: aims to provide a high and growing dividend and capital growth from a portfolioinvested principally in the ordinary shares of smaller UK companies and UK fixed income securities.AsiaAberdeen Asian Income Fund: aims to provide investors with a total return primarily through investing in Asian Pacific securities,including those with an above average yield.Aberdeen Asian Smaller Companies Investment Trust: aims to maximise total return to shareholders over the long term froma portfolio of smaller quoted companies in Asia (excluding Japan).Aberdeen New Dawn Investment Trust: aims to provide shareholders with a high level of capital growth through equityinvestment in Asian countries outside Japan, including both large and smaller companies.Aberdeen New Thai Investment Trust: aims to provide shareholders with a high level of long-term and above-average capitalgrowth through investment in Thailand.Edinburgh Dragon Trust: aims to provide a high level of capital growth through equity investment in large Asian companies outsideJapan and Australasia.New India Investment Trust: aims to achieve long term capital appreciation through investing in companies which are incorporatedin India or which derive significant revenue or profit from India.GlobalMurray International Trust: aims primarily to invest in stock markets around the world while maintaining an above-averagedividend yield. The fund invests in predominantly larger companies.JapanAberdeen Japan Investment Trust: aims to achieve long term capital growth principally through investment in listed Japanesecompanies which are believed by the Investment Manager to have above average prospects for growth.Latin AmericaAberdeen Latin American Income Fund Limited: aims to provide investors with a total return, with an above average yield,primarily through investing in Latin America through a diversified portfolio of equities and fixed income investments.North AmericaThe North American Income Trust: aims to provide investors with above average dividend income and long term capital growththrough active management of a portfolio consisting predominantly of S&P 500 US equities.Specialist SectorDunedin Smaller Companies Investment Trust: aims to achieve long term growth from a portfolio of smaller companies in theUnited Kingdom.Tracker TrustAberdeen UK Tracker Trust: designed to track the FTSE All-Share Index both in terms of capital and income.aberdeen-asset.co.uk01


Your commitmentWhen investing in The Plans you are committing to buyshares in an investment trust, a Public Limited Companywhose shares are traded on the London Stock Exchange orother stock exchanges. Investment trusts offer investorsnot only professional fund management but also greaterdiversification and liquidity than would be generally availableto them as individuals. For more information on the structureof investment trusts please refer to the main brochure.US investorsThe Plans detailed in this document are not available to investorswho are residents, nationals or citizens of the United States.As you will be investing in the stock market, you must acceptthat there are risks involved in doing so, not least that the valueof your shares may fall and you could get back less then youinvest. You should view your investment decision as a mediumto long term investment. As well as generic risks, there areadditional risks that are specific to certain investment trustsand these are stated on pages 3 and 4.You may buy and sell shares in The Plans on any business day,subject to the investment levels outlined in the table below.Please note that, with effect from 6 October 2014, instructionsreceived by post or fax by 5.00pm (online instructions by11.59pm) will normally be carried out on the followingbusiness day.Minimum and maximum investment levelsMinimum lump sumMinimum regular savings(per month)Maximum investmentAberdeen Investment Trusts ISA A £1,000 subject to £250minimum per trust£100 per trust £15,000 B(or £1,250 per month)Aberdeen Investment Trusts Share Plan £250 per trust £100 per trust No upper limitAberdeen Investment Trusts Investment Plan for Children £150 per trust £30 per trust No upper limitAThe minimum sum for an ISA Transfer is £1,000 and is subject to a minimum per trust of £250.BThe maximum sum for an ISA investment is £15,000 for the current tax year until 5th April 2015.02 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Important – Risk factorsAny investment in stock market funds involves risk. Some ofthese risks are general, which means that they apply to allfunds. Others are specific, which means that they apply toindividual funds.Before you decide to invest, it is important to understanda fund’s investment objective and the risks involved.General risks applying to all trusts• The market value of investments and the income from them cango down as well as up. Shares may be subject to sudden andlarge falls in value and you may get back less than you invest.• Past performance is not a guide to the future.• Investment trusts are specialised investments and may not beappropriate for all investors.• The market price of investment trust shares does not usuallyreflect their underlying net asset value (NAV).• Investment trusts can borrow money in order to financefurther investments. This is known as ‘gearing’, an investmentstrategy intended to enhance investment returns. However,the use of gearing can result in share prices being morevolatile and subject to sudden or large falls in value. Theimpact of gearing as a strategy will tend to be more positive ina rising market, though it will probably be unfavourable whenmarkets move downwards. Up to date information on thelatest gearing levels can be obtained by contacting ourInvestor Helpline or our website invtrusts.co.uk.• The value of tax benefits depends on individual circumstancesand the favourable tax treatment for ISAs may not bemaintained. If you are a basic rate tax payer and you do notanticipate any liability to Capital Gains Tax, you shouldconsider if the advantages of an ISA investment justify theadditional management cost/charges incurred.• Inflation will occur over the duration of your investment andif the returns on your investment are lower than the rate ofinflation this will reduce what you could buy in the future.Specific risks applying to individual trustsCharges taken from capitalCertain trusts treat the generation of income as a higher prioritythan capital growth; such trusts may deduct part or all of theirmanagement charge from capital. This will increase the amountof income available but at the expense of capital growth.This applies to Aberdeen Asian Income, Aberdeen Latin AmericanIncome, Aberdeen New Dawn, Aberdeen Smaller Companies HighIncome, Dunedin Income Growth, Dunedin Smaller Companies,Murray Income, Murray International and Shires Income.Exchange ratesTrusts investing overseas can be affected by changes inexchange rates which may cause the value of your investmentto decrease or increase.In particular this applies to Aberdeen Asian Income, AberdeenAsian Smaller Companies, Aberdeen Japan, Aberdeen LatinAmerican Income, Aberdeen New Dawn, Aberdeen New Thai,Edinburgh Dragon, Murray International, New India and TheNorth American Income Trust.High income trustsCertain trusts may seek to invest in higher yielding securitiessuch as bonds, which are subject to credit risk, market price riskand interest rate risk. Unlike income from a single bond, thelevel of income from an investment trust is not fixed and mayfluctuate. Yields are estimated figures and may fluctuate.In particular this applies to Aberdeen Latin American Income,Aberdeen Smaller Companies High Income, Dunedin IncomeGrowth, Murray Income, The North American Income Trust andShires Income.BondsWith 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 sharesis likely to fall, and vice versa. In addition to the interest raterisk, bond investments are also exposed to credit risk reflectingthe ability of the borrower (i.e. bond issuer) to meet itsobligations (i.e. pay the interest on a bond and return thecapital on the redemption date). The risk of this happening isusually higher with bonds classified as ‘sub-investment grade’.These may produce a higher level of income but at a higher riskthan investments in ‘investment grade’ bonds. In turn, this mayhave an adverse impact on funds that invest in such bonds.In particular, this applies to Aberdeen Latin American Incomeand Shires Income and might also apply to Aberdeen SmallerCompanies High Income and Murray International.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 investmentat risk.In particular, this risk applies to: Aberdeen Asian Income, AberdeenAsian Smaller Companies, Aberdeen Latin American Income,Aberdeen New Dawn, Aberdeen New Thai, Edinburgh Dragonand New India.aberdeen-asset.co.uk03


Important – Risk factors continuedSpecialist sectorsSpecialist funds which invest in small markets or sectorsof industry are likely to be more volatile than morediversified trusts.In particular, this risk applies to: Aberdeen Asian SmallerCompanies, Aberdeen New Thai, Aberdeen Smaller CompaniesHigh Income and Dunedin Smaller Companies.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: Aberdeen Asian SmallerCompanies, Aberdeen Smaller Companies High Income andDunedin Smaller Companies.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 Aberdeen Japan.The principal risk factors of each investment trust arealso explained in each company’s Annual Report andAccounts. These can be fund by visiting the website:invtrusts.co.uk.We recommend that you seek financial advice prior tomaking an investment decision.04 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Your questions answered continuedWhat documentation will I receive after I invest?We will acknowledge receipt of your application shortly afterreceiving it. Confirmation that the Plan has been opened willbe sent subsequently, including a transaction statement andyour new Plan account number. Contract notes will not besent. Please inform Aberdeen of any discrepancies on theconfirmation notes within 30 days.All investors will receive half-yearly statements, prepared inaccordance with the FCA Rules, as at 5 April and 5 Octobereach year and issued as soon as practicable thereafter. Thesewill give a current valuation of the underlying investment(s)and details of all transactions and costs for the period.Copies of the Annual and Interim Report and Accounts willbe sent to you. You may attend meetings of shareholders andexercise voting rights in respect of your shareholding.The latest Annual and Interim Report and Accounts for any trustare available, free of charge, on our website and also on requestfrom our Brochure Request Line.How do I get advice?We don’t offer advice on our funds and products. We recommendthat you seek financial advice prior to making an investmentdecision. If you do not currently have a financial adviser, detailsof authorised financial advisers in your area can be found atwww.apfa.net or www.unbiased.com.Will my dividends be paid out or reinvested tobuy further shares?Dividends will be automatically reinvested unless you haveelected to have them paid out to you, by direct credit intoyour bank account. Income balances under the £10 minimumlimit are not paid out. The cash stays in the account, accruinginterest, until there is at least £10 to pay out. If your Plan is anISA, dividends will only be paid or reinvested after payment ofthe ISA annual management charge. Amounts needed to meetthese charges may be kept as cash deposits in accordancewith the Regulations, up to the time these sums are due,or may be met out of the sale of shares held in the Plan.Can I switch between trusts?You can switch between trusts within your Plan at any time.Switches are charged at £10 (plus VAT) per sale. Only writteninstructions are accepted. For information on transferring tothe Aberdeen ISA, please refer to ‘Can I transfer my otherISAs to you?’ on the next page.Who needs to sign client instructions?All registered account holders should sign instructions thatare to be sent to us. This is not relevant to ISAs since thesecan only be opened in sole names.Can I add new investment trusts to my Plan?Yes. You can top up your investment in an investment trust thatyou already hold or add a new one, provided it is listed in thisKey Features document.The minimum additional contribution to an investment trustthat you already hold within a Plan is £250 for the ISA andShare Plan and £30 for the Investment Plan for Children. Ifadding to an ISA, you must not exceed the annual limit for ISAs.Simply write to us letting us know which investment trust(s)you wish to add and, for Regular Savers, the monthly amount tobe invested. Please remember to provide your account numberand to include a cheque payable to ‘Aberdeen Asset ManagersClient Account’.How do I stop or amend making monthlyinvestments?To stop or amend your Direct Debit you must inform us atleast seven business days ahead of the next collection date.Only written instructions to cancel or change a Direct Debitcan be accepted. Each collection is made on the 15th businessday of the month.Can I transfer my investment into my own, oranother, name?Yes. There is a £30 (plus VAT) charge for certificating eachholding in a Share Plan and Investment Plan for Childreninto your own, or another, name.06 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Do I have the opportunity to change my mindafter I invest?If you have received advice from an authorised financial adviserin respect of your investment, you will receive a notice of yourright to cancel your investment and you will have 14 days fromthe date of the deal to exercise your rights. If this applies to you,you will not be liable to pay the usual handling charge to sellshares, as outlined in the Terms and Conditions, Part A, section10.1(b).You may not get a full refund of your money if the value ofyour investment has fallen between the date your money wasinvested and the date we receive the cancellation notice.The Plan Transfers: There are no cancellation rights in respectof transfers. If you change your mind, shares may be sold atthe prevailing market price. If you withdraw your request topurchase shares following an ISA transfer, the proceeds will bepaid directly to you, and you will irrevocably lose any favourabletax treatment associated with an ISA holding.How do I notify Aberdeen of a change ofpersonal details?All notifications of a change of address (on an account in asingle name only) can be accepted by telephone. For any otherchange of personal details or for accounts held in more thanone name, details must be sent to Aberdeen’s Administrationdepartment accompanied by all appropriate signatures.How do I find out the current share price ofmy investment?The share prices and yields of most Aberdeen managedinvestment trusts are quoted daily in the Financial Times.Prices are also available on our website: invtrusts.co.uk.For details of the very latest prices you can telephoneInvestor Services.Where will my shares be held?Your shares will be registered on your behalf in the name ofAberdeen’s appointed Nominee which is currently HarewoodNominees Limited. Please note that share certificates are notissued but you will receive statements twice a year.How can I sell my holding?You may close or withdraw funds from your Plan at any time.However, you should take a medium to long term view whenentering into investments of this type. We will sell the sharesfor you at the next dealing point and forward a cheque to youin settlement.The following conditions apply to closures/withdrawals:Minimum amount thatcan be withdrawn:Remaining value (afterwithdrawal) must be:Charge for eachwithdrawal/closureISA£250per trust£1,000per ISA£15plus VATShare Plan£250per trust£250per trust£10plus VATInvestmentPlan forChildren£150per trust£150per trust£10plus VATIf you do want to cash in part of or all of your Plan, simply sendus an instruction signed by all the shareholders. All contributionscount towards your ISA, so once you have withdrawn cash, youwill not be able to put it back in the same year.aberdeen-asset.co.uk07


Your questions answered continuedQ&As ABOUT ISAsWhat is an Individual Savings Account (ISA)?An ISA is a wrapper in which you can put different types ofinvestment (components) without having to pay tax on theinvestment growth. You can hold up to two components withinan ISA; stocks and shares (including investment trusts), andcash. Please note that Aberdeen Investment Trusts do notoffer a cash ISA. You can only have one Stocks and Shares ISAmanager for each current tax year.Who can invest in an ISA?Anyone aged 18 or over may invest in an ISA, provided that theyare resident in the UK for tax purposes. This includes membersof the armed forces and Crown employees serving overseas andtheir spouses and civil partners. ISAs may not be taken out injoint names.A Junior ISA is a product which allows children who are underthe age of 18 to invest. Please note, however, that Aberdeendoes not currently offer a Junior ISA.What are the tax advantages of ISAs?The investment trusts included in this document all qualify as ISAinvestments, which can grow free of any liability to income taxand capital gains tax. Withdrawals from ISAs do not need to beentered on your tax return nor does the income.Under HMRC rules, ISAs are currently permanent tax sheltersuntil death. Investors should be aware, however, that the UK taxregime may be subject to change by the Government and thatthe rates of, and relief from, taxation depend on your ownpersonal tax position and may vary over time.Can I transfer my other ISAs to you?Yes. If you have Cash ISAs and/or Stocks and Shares ISAs fromprevious tax years, you may transfer these into our ISA withoutit affecting your annual ISA allowance. You may also transferto us money invested in the current tax year in a Cash ISA,although you will need to transfer the whole amount investedand it will count towards this year’s ISA allowance.The minimum sum for an ISA transfer to us must be £1,000,of which a minimum of £250 must be invested in each trustyou choose.If you are transferring a Stocks and Shares ISA to us, pleasebe aware that we only accept cash from other managers,so the holdings you have will be sold and the proceedstransferred to us.Can I transfer my ISA to another ISA manager?You can transfer your ISA to another approved ISA manager.For further information, see the Terms and Conditions, Part B,section 3.2.Can I transfer my ISA investments into my own,or another, name?Yes, although this will mean that your investments will nolonger be held within an ISA and will lose their tax-free status.For each holding withdrawn from your ISA in this manner, thereis a £20 (plus VAT) certification fee together with a handlingcharge of £15 (plus VAT).Please note that this tax information applies to the UK only.08 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Q&As ABOUT TAXATIONWhat are the tax consequences?The rates of and relief from taxation depends on your ownpersonal tax position and may vary over time.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 CGTrates and annual exempt amount can be found at the HMRCwebsite, hmrc.gov.uk.Income taxIncome tax at the rate of 20% will be deducted from paymentsof interest distributions to UK resident investors who willreceive credit for the tax deducted. Higher rate (currently 40%)and Additional rate (currently 45%) taxpayers must account toHM Revenue & Customs for any further tax due on the grossamount of the interest. A basic rate taxpayer has no further taxliability. In line with current legislation, we will report all interestdistribution payments to HM Revenue & Customs.ISAsISA investors currently have no income tax or capital gains taxliability on their investment.Investment Plan for Children – Trust Account(please note this is not available to new investments)Where a parent has given the capital, any income generatedfrom that capital counts as the child’s income if it amountsto £100 gross or less. If this sum is exceeded, it is taxed as ifit belonged to the parent or parents and the tax will dependon the parent’s marginal rate (i.e. the highest income tax ratepayable by the parent). The income will only be treated asthe child’s own once the child reaches the age of 18 – or getsmarried, if earlier.Where the capital was given by someone other than theparents, any income arising from the investment is treatedas the child’s and is free of tax up to the allowance limit.Investment Plan for Children – Designated AccountThe investor is liable for any applicable capital gains taxor income tax.What information do I need to provide about mytax residency?If you are investing in the investment trusts outside an ISA, taxregulations require you to advise us of all countries in which youare resident for tax purposes. We will ask you to provide thisinformation as part of your application to invest and you mustcomplete the relevant section in the Application Form as wellas signing the declaration.aberdeen-asset.co.uk09


How will charges and expenses affectmy investment?There is no charge for buying Aberdeen investment trust shareswithin The Plans. You must, however, pay 0.5% GovernmentStamp Duty on all purchases.Charges and ExpensesAll Plan charges are listed in the main brochure. In additionthere are charges and expenses relating to the management ofeach investment trust company. These are generally deductedfrom the income of the company. Please refer to page 3 of theKey Features document for details of the trusts which apply aproportion of management charges to capital. Charges includethe Manager’s fees, Directors’ fees, audit fees and the cost ofproducing the Annual and Interim Reports.DefinitionsThe following terms will help you to understand the tables:Initial spreadInvestment trust shares are priced in the market and the pricewill vary depending on whether you are buying or selling shares.The difference between the two is called the spread. The spreadvaries according to the number of shares being purchased andtheir availability on the market. A typical spread based onfigures as at 17 March 2014 has been included in thecalculations for the tables opposite and overleaf. The sellingprice of a share must rise by more than this spread (togetherwith charges and Government Stamp Duty) before you willbe able to sell your shares at a profit. Dealing costs are notincluded. Government Stamp Duty is included as part ofthe spread where applicable. Up to date information on thespread is available from Aberdeen.Ongoing ChargesThe Ongoing Charges Figure (OCF) is the overall cost of aninvestment trust (and other funds), shown as a percentage ofthe value of its assets. It is made up of the Annual ManagementCharge (AMC) and other charges, such as administration costs,depositary and custody fees. It does not include the cost ofbuying and selling stocks for a fund. The OCF can help youcompare the annual operating expenses of different funds.The effect of charges and expenses onan investmentThe effect on an investment into Murray Income (as an exampleof an ‘Income Fund’) and Aberdeen New Dawn (as an exampleof a ‘Growth Fund’) assuming growth of 6% p.a. for directinvestments in the Share Plan are set out opposite. These ratesare laid down by the Financial Conduct Authority and are forillustration purposes only. The figures are not guaranteed, andserve only to demonstrate the effect of charges and expenseson an investment. Investments held within an ISA may achievea higher growth rate than those held outside such productsbecause of their tax benefits.A note on performance feesThe OCF includes the annual management fees that theinvestment trusts pay to the Investment Manager. Certain trustsmay also levy performance fees that could become payable ifcertain criteria are achieved. Please refer below to see whichtrusts have performance fees:• Dunedin Smaller Companies Investment Trust: there is aperformance fee that may become payable should theTrust’s Net Asset Value exceed that of its benchmark index.The performance fee is capped at a maximum of 0.5% of theadjusted gross assets in any one year.• Murray International Trust: there is a performance fee thatmay become payable should the Trust’s Net Asset Valueexceed that of its benchmark index. The total amount ofthe fees in any one year (comprising the basic fee and theperformance fee) is capped at 0.8% of total assets lesscurrent liabilities.• New India Investment Trust: there is a performance feethat may become payable should the Trust’s Net AssetValue exceed that of its benchmark index. This could resultin a maximum additional fee of 0.75% of gross assets in anyone year. Please refer to the New India Investment TrustAnnual Report, under ‘Appendix – Performance fee’ forfurther information.YieldThe yield is the annual return from a fund, expressed annuallyas a percentage of its price.10 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Income Funds:The effect of charges and expenses on your investmentMurray Income Trust PLC: Share Plan and Investment Plan for Children Lump SumInitial Spread 0.80%, Ongoing Charges Figure 0.80%, Yield 4.04%INCOME PAID OUTINCOME REINVESTEDAt end ofyearInvestmentto dateEffect ofdeductions to dateIncometo dateWhat you might getback at 6%Effect ofdeductions to dateWhat you might getback at 6%1 £1,000 £28 £41 £989 £28 £1,0303 £1,000 £47 £124 £1,000 £50 £1,1405 £1,000 £69 £209 £1,020 £76 £1,26010 £1,000 £139 £428 £1,070 £168 £1,620The last line in the table above shows that on an investment of £1,000 over 10 years the effect of the total charges and expensesamount to £139 if income was paid out, and £168 if income was reinvested. Putting it another way, if the growth rate were to be6%, which is in no way guaranteed, this would have the effect of reducing it to 4.96% a year where income is paid out or 4.96%a year where income is reinvested.Growth Funds:The effect of charges and expenses on your investmentAberdeen New Dawn Investment Trust PLC: Share Plan and Investment Plan for Children Lump SumInitial Spread 0.95%, Ongoing Charges Figure 1.10%, Yield 2.16%INCOME PAID OUTINCOME REINVESTEDAt end ofyearInvestmentto dateEffect ofdeductions to dateIncometo dateWhat you might getback at 6%Effect ofdeductions to dateWhat you might getback at 6%1 £1,000 £33 £22 £1,000 £33 £1,0203 £1,000 £60 £69 £1,050 £62 £1,1205 £1,000 £92 £119 £1,110 £96 £1,24010 £1,000 £196 £254 £1,260 £216 £1,570The last line in the table above shows that on an investment of £1,000 over 10 years the effect of the total charges and expensesamount to £196 if income was paid out, and £216 if income was reinvested. Putting it another way, if the growth rate were to be6%, which is in no way guaranteed, this would have the effect of reducing it to 4.64% where income is paid out or 4.64% a yearwhere income is reinvested.aberdeen-asset.co.uk11


How will charges and expenses affectmy investment? continuedThe table below gives you an idea of how the variations in charges and expenses on other trusts could affect returns (incomereinvested basis) at the end of 10 years.Dealing spread(including 0.5%Government stampduty)Ongoing ChargesFigure %(OCF)Effective reductionin investment growthfrom 6% to thefollowing:SHARE PLANWhat you might getback at 6% Lump sumof £1,000Aberdeen Asian Income 1.57 1.30 4.3 1,520Aberdeen Asian Smaller Companies 1.31 1.30 4.3 1,530Aberdeen Japan Investment Trust C 2.78 1.40 4.1 1,490Aberdeen Latin American Income 1.85 1.80 3.7 1,430Aberdeen New Thai 1.14 1.40 4.3 1,520Aberdeen Smaller Companies High Income Trust 2.68 1.62 3.8 1,450Aberdeen UK Tracker 1.26 0.30 5.4 1,690Dunedin Income Growth 1.30 0.60 5.0 1,640Dunedin Smaller Companies B 2.00 0.80 4.8 1,600Edinburgh Dragon 0.86 1.20 4.5 1,560Murray International B 0.78 0.66 5.1 1,640New India A 1.54 1.60 4.0 1,490The North American Income Trust 1.04 1.04 4.6 1,580Shires Income 1.89 1.10 4.6 1,540AIn the event that certain outperformance targets are met an additional performance fee is payable. Details are given in the Annual Report and Accounts.BThe Ongoing Charges Figure for this trust incorporates an element of performance fee payable. Details are given in the Annual Report and Accounts.CEstimated total annual expenses.12 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Other important informationWhat if the Plan terms and conditions change?Aberdeen may alter the terms and conditions (includingcharges) of the Aberdeen Investment Trusts ISA, Share Plan orInvestment Plan for Children or cease to act as its Manager atany time. You will be given at least one month’s written noticeof any significant changes and advised of the available options.What if I have a complaint?If you need to complain about any aspect of our service, youshould write to the Complaints Team, Aberdeen Asset ManagersLimited, 10 Queen’s Terrace, Aberdeen, AB10 1YG, who willinitiate our formal complaints procedure. A leaflet detailingour complaints procedure is available on 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, Exchange Tower, London,E14 9SR or telephone 0300 123 9 123 or 0800 023 4567.What if you cannot afford to pay mecompensation?We are covered by the Financial Services CompensationScheme, which means if we become insolvent, you may beentitled to compensation. The level of compensation willdepend on the type of business and the circumstances ofyour claim. Currently, investments are covered for 100%of the first £50,000.Details are available from the FSCS Helpline on 0800 678 1100or 020 7741 4100 and on the FSCS website: www.fscs.org.uk.What anti-money laundering checks arecarried out?We are required to check the identity of investors in order tocomply with UK anti-money laundering legislation. This involvesobtaining independent documentary evidence confirmingidentity and permanent residential address. This may involve anelectronic check of information. By signing an Application Formyou will give us the right to access such information for thepurposes of the Data Protection Act 1998.Do the trusts have a finite life?Aberdeen Asian Income, Aberdeen Asian Smaller Companies,Aberdeen Latin American Income, Dunedin Income Growth,Dunedin Smaller Companies, Murray Income, MurrayInternational and Shires Income do not have a fixed life.The following trusts are subject to the conditions detailed below:Aberdeen Japan Investment Trust does not have a fixed life.However, if the Ordinary Shares have been trading, on average,at a discount to NAV in excess of 12 per cent, within the 90 dayperiod prior to the Company’s financial year end, then acontinuation vote will be proposed to shareholders at the nextfollowing AGM.Aberdeen New Dawn and Aberdeen New Thai do not havea fixed life. However, if within 12 weeks preceding the Trust’sfinancial year end the ordinary shares have been trading, onaverage, at a discount in excess of 15%, a resolution proposing toput the Trust into liquidation will be made at the following AGM.Aberdeen Smaller Companies High Income Trust does nothave a fixed life. Shareholders vote for continuation at everyfifth AGM. The next continuation vote will take place in 2015.Aberdeen UK Tracker does not have a fixed life. Shareholdersvote for continuation at each AGM.Edinburgh Dragon does not have a fixed life. Shareholders votefor continuation at every third AGM. The next continuation votewill take place in 2015.New India does not have a fixed life. Shareholders vote forcontinuation at each AGM.The North American Income Trust does not have a fixed life.Shareholders vote for continuation at every third AGM. The nextcontinuation vote will take place in 2015.aberdeen-asset.co.uk13


Other important information continuedLawYour dealings with Aberdeen Asset Managers Limited, bothbefore and after you have made an investment with us, will beconstrued and governed in accordance with English law. Disputesarising under, out of or connected with your dealings withAberdeen Asset Managers Limited will be subject to the exclusivejurisdiction of the English Courts. Any documents we providerelating to The Plans will be in English and in investing in ThePlans you accept and agree that all future communications wesend to you relating to this will be in English.Under the FCA Rules, you will be categorised as a ‘retail client’,meaning that you will have the maximum amount of protectionavailable under the respective rules.When are Key Features documents updated?This document was prepared in September 2014 and will bereviewed at least once a year, so some information may changefrom time to time. If you have any questions about the KeyFeatures then you should contact the Aberdeen InvestorHelpline or email us.How can I obtain further information aboutAberdeen’s range of investment trusts?Further information can always be obtained from our AberdeenInvestor Helpline on 0500 00 00 40. Telephone calls willnormally be recorded and may be monitored for your protection.Alternatively, please contact us by email atinv.trusts@aberdeen-asset.com. We are, however, unableto give individual investment advice. Information can also beobtained from our website at invtrusts.co.uk.About this documentThis document has been issued and approved by AberdeenAsset Managers Limited (AAML), a wholly owned subsidiaryof Aberdeen Asset Management PLC. AAML is manager of theAberdeen Investment Trusts ISA, the Aberdeen InvestmentTrusts Share Plan and the Investment Plan for Children.Management CompanyAberdeen Fund Managers Limited (AFML) acts as theManagement Company (in terms of the AlternativeInvestment Fund Managers Directive) for Aberdeen AsianSmaller Companies Investment Trust PLC, Aberdeen JapanInvestment Trust PLC, Aberdeen New Dawn Investment TrustPLC, Aberdeen New Thai Investment Trust PLC, AberdeenSmaller Companies High Income Trust PLC, Aberdeen UKTracker Trust plc, Dunedin Income Growth Investment TrustPLC, Dunedin Smaller Companies Investment Trust PLC,Edinburgh Dragon Trust plc, Murray Income Trust PLC, MurrayInternational Trust PLC, New India Investment Trust PLC,The North American Income Trust plc and Shires Income PLC.Aberdeen Private Wealth Management Limited (APWML) actsas the Management Company for Aberdeen Asian Income FundLimited and Aberdeen Latin American Income Fund Limited.Investment ManagerAFML has appointed AAML to act as the Investment Managerfor the investment trusts for which AFML is the ManagementCompany, with the exception of the following investment trustsfor which AFML has appointed Aberdeen Asset ManagementAsia Limited to act as the Investment Manager: Aberdeen AsianIncome Fund Limited, Aberdeen Asian Smaller CompaniesInvestment Trust PLC, Aberdeen Japan Investment Trust PLC,Aberdeen New Dawn Investment Trust PLC, Aberdeen NewThai Investment Trust PLC and New India Investment Trust PLC.APWML has appointed AAML to act as the InvestmentManager for Aberdeen Latin American Income Fund Limitedand Aberdeen Asset Management Asia Limited to act as theInvestment Manager for Aberdeen Asian Income FundLimited respectively.Aberdeen Asset Managers Limited, 10 Queen’s Terrace,Aberdeen AB10 1YG is authorised and regulated by theFinancial Conduct Authority and listed on the FinancialServices Register under Register Number 121891.14 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Terms and ConditionsThese Terms and Conditions apply to you if you invest in an Aberdeen InvestmentTrusts Individual Savings Account (ISA), Aberdeen Investment Trusts Share Planor Investment Plan for Children (collectively referred to as the ‘Plans’). Part Ais the general Terms and Conditions that apply to all three Plans. Part B relatesspecifically to additional Terms and Conditions that apply to ISA investors only.PART A – GENERAL TERMS & CONDITIONSWe will treat you as a ‘Retail Client’, which means that you will benefit from thehighest level of consumer protection available under the FCA Rules.The Application Form is part of these Terms and Conditions. If the terms in theApplication Form differ from these, those contained in the Application Formwill prevail.1 DefinitionsFor the purpose of these Terms and Conditions full definitions of terms arequoted below. Unless the context sets out something different, words inthe singular include the plural and vice versa. References to any statuteor regulation include any amendment or re-enactment. Headings andsub-headings are for guidance only and are not part of these Termsand Conditions.In these Terms and Conditions, the following words and expressions shallhave the following meanings:“Aberdeen” means the Aberdeen Asset Management group of companies.“Agreement” means the agreement between you and us as governed bythese Terms and Conditions.“Application Form” means, as the context requires, any account-openingapplication form, top-up form or switching form that you complete in hardcopy form or online when applying to invest.“Beneficial Owner” means an individual who ultimately owns or controlsan investment or on whose behalf an Investment is being made. Furtherinformation can be found in section 15: ‘Anti Money Laundering andcountering the financing of terrorism’.“Best Execution” means taking all reasonable steps to obtain the bestpossible results for Plan investors when buying and selling Shares.“Business Day” means any day (excluding Saturdays and Sundays andpublic holidays) on which banks are open to conduct normal bankingbusiness in London.“Corporate Action” means an action by an Investment Trust which affectsthe shares issued by it.“Custodian” means BNP Securities SA or any other financial institution thatwe may appoint to hold assets for safekeeping. The Custodian of the Plansappoints the Nominee.“FCA” means the Financial Conduct Authority.“FCA Rules” means the rules issued from time to time by the FinancialConduct Authority.“HMRC” means HM Revenue & Customs.“Investment Trust” means a closed ended Aberdeen-managed investmentcompany listed on the London Stock Exchange.“ISA” means Individual Savings Account.“Key Features” means the Aberdeen Investment Trusts ISA, Share Plan andInvestment Plan for Children Key Features document that contains practicalinformation such as how to invest, how to contact us, how to complain andany applicable cancellation rights.“Manager” means Aberdeen Asset Managers Limited, and includes anybodyappointed to manage a Plan on its behalf.“Nominee” means Harewood Nominees Limited or such other eligibleNominee, as defined in the FCA Rules, as may be appointed by theCustodian from time to time to undertake the custody of thePlan Investments.“Plan” means, as the case may be, the Aberdeen Investment Trusts SharePlan, Investment Plan for Children or the Aberdeen Investment TrustsIndividual Savings Account (ISA), governed by these Terms and Conditions,to be invested in Shares selected by you.“Power of Attorney” means a legal authority that lets one person selectanother person to act on their behalf.“Qualifying Individual” means an Individual Savings Account applicant who:(i)(ii)is no less than eighteen years old;is either resident in the United Kingdom for tax purposes, or if not soresident, performs duties which by virtue of Section 28 Income Tax(earnings and pensions) Act 2003 are treated as being performed inthe United Kingdom, or is married to, or in a civil partnership with,such a person.“Regulations” means The Individual Savings Account Regulations 1998,as amended or re-enacted from time to time and any other applicableregulations or statutes.“Rights Issue” means an offer to an Investment Trust’s existing shareholderseither to buy additional shares in the Investment Trust or alternatively to sellthe rights.“Scrip Issue” means the process of creating new shares which are given freeof charge to existing shareholders.“Share” means any shares in an Investment Trust which from time to timewe agree may be held in the Plan(s).“Tax Year” means the year beginning on 6 April in each calendar year andending on 5 April of the next calendar year.“Valuation Dates” means two dates in each calendar year, being 5October and 5 April or, if any such date is not a Business Day, either (at theManager’s option) the previous Business Day or following Business Day.“you” and “your” means an Investor who applies to open (or, as the casemay be, who holds) a Plan on these terms and conditions.“we”, “us” and “our” means Aberdeen Asset Managers Limited, which isauthorised and regulated by the Financial Conduct Authority in the conductof investment business and with its registered office at Bow Bells House,1 Bread Street, London EC4M 9HH.2 Opening a Plan and your right to cancel if you change your mind2.1 Eligibility(a) To be eligible to open a Plan, you must be aged 18 or over. For ISAapplications, there are additional conditions as explained in Part B(Additional Terms & Conditions for ISA Investors).(b)(c)(d)(e)You can invest in the Plans by lump sum (with payment made bycheque) or you can invest monthly (with your first payment madeby cheque and subsequent payments collected from your bankaccount by Direct Debit. For eligible online applications, youcan invest by paying with your debit card).In order to invest in a Plan, you must complete and return tous the relevant Application Form. We reserve the right, at ourabsolute discretion, not to accept any application to open a Plan.We will only accept cheques drawn on an account of a UK bankor building society denominated in pounds sterling. Post-datedcheques will not be accepted.All subsequent instructions in respect of your Plan must also begiven in writing and signed by all registered Plan holders.aberdeen-asset.co.uk15


Terms and Conditions continued(f)(g)(h)(i)(j)You may hold a Plan in your own name or, in the case of the SharePlan and Investment Plan for Children, jointly with up to threeother persons. However, where a Plan is held in joint names wewill send communications only to the first named holder.Application Forms with a ‘care of’ address are not accepted,except in cases where the applicant’s permanent residentialaddress is a retirement home, nursing home, hospice or hospital.Application Forms with a ‘PO Box’ address are not accepted fromISA applicants.You may open a Share Plan and/or Investment Plan for Childrento be held in the name of another person aged 18 years or over,and continue to make subscriptions to the Plan, unless the holderinstructs us to the contrary. Subscriptions may only be madeto a Share Plan and/or Investment Plan for Children held byanother person where these are made as a gift to that person.Further information can be found in section 4(a): ‘Adding to yourinvestment or making changes’.If investing in a Plan other than an Aberdeen InvestmentTrusts ISA, you must provide us with information about yourtax residency in a self-certification section that is included onapplicable Application Forms.To open an ISA you must be a Qualifying Individual who has not,in the case of an application to open a Stocks and Shares ISA,subscribed to another Stocks and Shares ISA in the same tax year.Please refer to Part B, section 1, entitled ‘Investing in Your ISA’.2.2 Applications from non-UK resident investorsApplications from non-UK resident investors may be accepted, subjectto the following restrictions:(a) All payments made by you must be made in pounds sterling.(b) Your participation must not require us to comply with non-UKregulatory or tax obligations. If you are a resident, nationalor citizen of the United States, we are unable to accept anyapplication from you. If you open a Plan and subsequentlybecome a resident, national or citizen of the United States,you will be unable to continue holding your Plan.(c)It is your responsibility to satisfy yourself that your participationin the Plan is permitted under your local laws and satisfy yourselfas to the taxation consequences of holding a Plan.2.3 Ways to open your PlanApplications to open a Plan must be either:(a) in writing using the appropriate Application Form; or(b) in the case of all ISA applications and Share Plan applications thatare made by UK resident investors and in sole names only, via oursecure online service at invtrusts.co.uk.Telephone dealing is not available.We may rely on any notice, permission, request or instruction which webelieve, in our reasonable discretion, to be genuine. If we do not believean instruction is genuine, we may decline to accept or act upon it,and in such case we will not be liable for any losses (including adversemarket movements), damages or costs incurred by you or by any thirdparty as a result. No notice, instruction or other communication will bedeemed to have been given by you until it has actually been received.We reserve the right not to accept any buying or selling instructionunless we are satisfied that all information which we require at thetime of dealing has been accurately provided.2.4 Cancellation rights (relevant only if you have receivedfinancial advice)If you have received advice from a financial adviser, you will have theright to cancel within 14 days of receiving from us a notice of yourright to cancel. If this applies to you, you will not be liable to pay theusual handling charge to sell Shares, as outlined in section 10.1(b).You may not receive full reimbursement if the purchase price of yourInvestment falls before we receive written confirmation that you wishto cancel. An amount equivalent to the fall in the price of the Shares,up to the date we receive such written confirmation from you, maybe deducted.3 General information about investing in your Plan3.1 Investment objectives: the individual investment objectives of eachInvestment Trust are summarised in the Key Features and detailed infull in the relevant Report & Accounts.3.2 Risks: the value of investments and the income from them can godown as well as up and you may get back less than the amountinvested. Please refer to the Key Features for general and specificrisks attaching to the individual Investment Trusts.3.3 Please note that we are not permitted to give you investment ortaxation advice. You are responsible for all investment decisions.We recommend that you seek financial advice prior to making aninvestment decision.3.4 The minimum and maximum investment levels are as set out in theKey Features, under ‘Your commitment’. You may invest in shares ofone or more Investment Trust provided you invest the minimum levelper Investment Trust.You can buy and sell shares on any Business Day, subject to theinvestment levels outlined in the Key Features. Please note that, witheffect from 6 October 2014, instructions received by post or fax by5.00pm (online instructions by 11.59pm) will normally be carried outon the following Business Day.3.5 There is a range of ways you can invest in your Plan:(a) Lump sum investment by chequeThe minimum initial lump sum investment is stated in the KeyFeatures (under ‘Your Commitment’) and also on the appropriateApplication Form. We will aim to purchase Shares for youpromptly following receipt of your instructions and investment.We normally purchase Shares on each Business Day, with timescales outlined in 3.4 above, but we cannot guarantee that yourshares will be purchased at a specific time.(b)(c)You should make cheques payable to ‘Aberdeen Asset ManagersClient Account’.Lump sum investment by debit cardIf you are investing via our secure online service, you can makepayment by debit card. Please follow the instructions atinvtrusts.co.uk.Transfer in of Aberdeen Investment Trust shares that youalready hold in share certificate formIf you already have investments in Aberdeen Investment Truststhat are held in share certificate form, you can transfer these intoyour Share Plan or Investment Plan for Children at any time. To dothis, you should complete a CREST form, available by contactingus, and return it to us with the relevant share certificates andyour written instructions. The entire holding represented bya share certificate must be transferred into your Plan, as nobalance certificates will be issued.16 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Terms and Conditions continued(d)Regular investments by monthly Direct DebitIf you wish to invest regularly you must invest the minimummonthly amount, as stated in the Key Features (under ‘YourCommitment’). You must complete and return the appropriateApplication Form, together with a cheque for your firstcontribution, made payable to ‘Aberdeen Asset Managers ClientAccount’ and a completed Direct Debit mandate. The mandate isneeded to enable us to collect regular payments from your bankor building society account.In order to invest regularly we need to receive your completedApplication Form by the 1st of the month in which you wish tostart investing.Your monthly contributions are collected from your bank orbuilding society account on or around the 15th of each month.Shares will normally be purchased on the fifth Business Dayfollowing collection of your monthly investment.To stop or amend your monthly contribution, you must informus at least seven Business Days ahead of the next collection date.Instructions to cancel or change a Direct Debit can be acceptedby post or fax.You must notify changes to your nominated bank account bysubmitting the completed Direct Debit mandate by post or byamending your bank account details online if you have an onlineaccount. We need to have received this form by the 1st of themonth in order to collect from the new bank account on the 15th(or first Business Day thereafter) of the same month.We have the right to stop collections at any time on givingwritten notice to you.Direct Debit details will be disclosed to the registered Shareholderof the Plan during the initial set-up and upon subsequentamendments. If the registered Shareholder and contributor aredifferent people, please ensure that the contributor is aware thattheir details will be made available to the registered Shareholderin the future. All statements will be sent to the registeredShareholder only, unless otherwise instructed by theregistered Shareholder.4 Adding to your investment or making changes(a) Top-ups: You may make additional subscriptions to existing Plans,provided you invest the minimum top-up amount, as stated in theKey Features (under ‘Your questions answered’, ‘Can I add newInvestment Trusts to my Plan’). To do this, you should complete thetop-up form and send it back to us with a cheque. Alternatively youmay send us a signed letter of instruction with your cheque.(b)If your Plan is a Share Plan or Investment Plan for Children, youmay authorise us to accept payments from specified person(s)that are known to you. To do this, please write to us to confirmyour instructions (signed) and provide full name, address and dateof birth details for each person. We will be required to check theidentity of each third party you authorise, in order to comply withUK anti-money laundering legislation, as explained in section 15.Switching: you may switch between Investment Trusts in your Plan.When the proceeds from the sale of Shares within the Plan are to beinvested in Shares of a different Investment Trust within the same Plan,the purchase will normally be carried out on the same day as the sale.(c)Switching from an Aberdeen Share Plan to an Aberdeen ISA: if youhold investments in a Share Plan, you may sell these and reinvest theproceeds in an Aberdeen ISA, subject to the current maximum ISAallowance. The purchase within the ISA will normally be carried outon the Business Day after the Share Plan sale has taken place. Pleasecontact us for further information. You should remember that theInvestment Trusts have a bid-offer spread, being the difference betweenthe buying and selling price at any one time. If you sell Shares and usethe proceeds to buy back the same Shares in an ISA, you will sell at thebid price which will always be lower than the offer price that you willpay to buy back Shares in the same Investment Trust. You should alsorefer to section 10, ‘Our charges and other taxes that may be payable’to understand the potential charges for a Share Plan to ISA transfer.Requests to top up/switch investments within existing Plans must be signedby all registered Plan holders.5 General information about our duties and responsibilities when buyingand selling investments for you5.1 We are required to provide you with the following services:(a) To follow your instructions to buy and sell Shares, or makeswitches. Sales and purchases of investments will be made byus or with or through any person, firm or corporation that weare satisfied is competent to perform such functions. We arenot permitted to give you investment advice.(b)(c)To complete transactions on a Best Execution basis. Prices cannotbe guaranteed or determined in advance and trades made on yourbehalf may be combined with other orders of the Manager, itsassociates and of other investors. The combination of orders mayresult in you obtaining a more or less favourable price than if theorder has been executed separately.If we are unable to buy or sell Investment Trusts on the relevantBusiness Day, we will make the transaction as soon aspracticable thereafter.5.2 We may from time to time set a limit on the aggregate value of anyShare that may be purchased or sold through a Plan.5.3 All cash received by us for investment in your Plan must be appliedto purchase Shares. When adding subscriptions via our secureonline service, please ensure that you select an Investment Trust forinvestment; otherwise we may have to return your subscription onceidentity checks have been completed.5.4 We have a conflicts of interests policy in place to in order to ensurefair treatment for customers when acting on your behalf. We shall beentitled, without prior reference to you, to make transactions in whichwe have, directly or indirectly, a material interest or a relationshipwith another party which may involve a conflict with our duty toyou and we shall not be liable to account to you for any profitmade or received.5.5 We may delegate any of our functions or responsibilities delegatedunder a Plan provided we satisfy ourselves that the third partyis competent to carry out such functions or responsibilities.Our liability to you for all matters so delegated shall not beaffected by such delegation.5.6 In the event that any subscription made by you is not honoured byyour bank or building society we will be entitled without recourse toyou to realise any assets acquired in respect of such subscription,and you will be liable to pay to us on demand a sum equivalent toany loss (including dealing costs) which we may incur in closing outthe transaction(s).aberdeen-asset.co.uk17


Terms and Conditions continued6 Payment of income and interest and treatment of cash6.1 DividendsWhere dividends are declared on Investment Trusts held in your Plan,the income received may be reinvested in additional Shares or paid outto your nominated bank or building society account, in each case afterpayment of any charges due under these Terms and Conditions.Unless you instruct us that you wish to take regular income fromyour Plan (by completing the Income Facility section on the relevantApplication Form) we will automatically reinvest any dividend incomethat is received from your investments into the same Shares of theInvestment Trust that generated the income.Both dividend reinvestments and payments to your nominated bankor building society account will normally be carried out on the nextBusiness Day following receipt of the distribution. Cleared funds willbe credited to your bank or building society account approximatelythree Business Days later. However, if you have less than £10available for payment out, this will be held in a client account untilsupplemented with either: (1) additional income that is sufficient tobring the sum available for payment out to at least £10; or (2) a cashsubscription of £250 or more. Dividend reinvestments do not have aminimum amount.6.2 Interest on cash held in your Plan(a) Any uninvested cash held pending investment in Shares will beheld in a client money bank account. No interest will be paid toyou in respect of any uninvested cash balances and any interestearned will be retained by us and offset against ouradministration costs.(b)If the bank operating a client money bank account were tobecome insolvent and your cash was held in the account at thattime, there could be a shortfall in the amount that we would beable to repay you.7 Ownership of Shares held within your Plan7.1 Shares held in your Plan will be registered, along with those ofother investors, in the name of the Custodian’s Nominee andshare certificates will not be issued.7.2 We will not lend your Shares to anyone else or use them as securityfor a loan and you will not be committed to supplement funds inyour Plan.7.3 As Investments are registered collectively in the same nominee nameon behalf of all Plan investors, your entitlements will not be identifiableby separate certificates or other physical documents of title. In theevent of default by us or the Custodian, any shortfall in investmentsregistered in the Nominee name may be shared pro-rata amongst allinvestors whose investments are so held.7.4 Should you open an Investment Plan for Children, you may onlydesignate one beneficiary in respect of each Plan.8 Keeping you informed8.1 Upon opening your Plan, you will receive a letter of confirmationwhich includes your personal account number. After your openingsubscription we will send you a contract note that confirms thetransaction date, the number of Shares purchased and the total cost.8.2 On an ongoing basis we will send you contract notes in respect ofadditional investments, except for regular savings transactions anddividend reinvestment purchases.8.3 You will also receive half-yearly statements relating to your Plan,prepared in accordance with the FCA Rules, as at the Valuation Dates(5 April and 5 October) each year and issued as soon as practicablethereafter. These will give a current value of underlying investmentsand details of all transactions and costs for the period. Investmentsare valued at mid market price.8.4 In the case of a Plan which is not an ISA, a Consolidated Tax Certificate(CTC) covering the previous 12 months will be sent to you with yourApril statement.8.5 For each Investment Trust held within your Plan, you will receive copiesof the annual and interim reports and accounts, as well as such otherdocumentation as may be sent to registered shareholders. You may,if you wish, sign up to Aberdeen’s email services and receive yourchoice of Investment Trust performance, latest economic outlooks,fund manager presentations and regional market reports by email assoon as they are available. For further information, visit invtrusts.co.uk.Once you are registered, you will be able to unsubscribe or change yoursubscription options.8.6 You must promptly notify us in writing of any change in your addressor other changes in your circumstances. We will not be responsible forcorrespondence not being received should you not inform us of anysuch changes.9 Your rights and benefits9.1 As a Plan investor, you will be invited to attend and vote at shareholdermeetings of the Investment Trust(s) you hold.(a) Should you wish to exercise your voting rights (by voting infavour or against any resolution, or an instruction to abstain fromvoting), you can provide us with written instructions to do this.Should you wish to attend a meeting in order to vote in person,you will be given an opportunity to do so.(b)In the absence of specific instructions from you, we shall haveabsolute discretion to vote, abstain or not vote in respect ofsome or all of your Shares held in your Plan.9.2 Your Investment Trust investments may be subject to CorporateActions from time to time. Some actions will be mandatory whileothers are dependent on the wishes of shareholders, in which case youmay be required to make a decision in respect of the Shares you hold.9.3 If an Investment Trust makes a bonus issue or Scrip Issue of shares, wewill credit your Plan with the shares allotted to you. Your allotmentwill be rounded down to the nearest whole number with any fractionalentitlement held by the Nominee for our benefit.9.4 If an Investment Trust in which you hold Shares offers a Rights Issue,we will contact you to notify you of our proposed course of action.We can choose to accept any offer made in relation to such RightsIssue but we are under no obligation to do so.9.5 If an Investment Trust is subject to a Corporate Action, trading inthose Shares may be suspended until the outcome of the proposal isdetermined. We will inform you of any such suspension and decisionsmade in connection with it.18 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Terms and Conditions continued10 Our charges and other taxes that may be payable10.1 The following Plan charges are payable:(a) Government stamp duty of 0.5% is payable on all purchasesof shares, except purchases of shares in Guernsey and Jerseyregistered Investment Trusts.(b)(c)(d)(e)(f)On whole or partial sale of Shares in any Investment Trustwithin each Plan or re-registration of Shares into your ownname, a handling charge of £10 (plus VAT) per sale, payable tous except in the case of an ISA where a charge of £15 (plus VAT)per sale will be payable. Where the proceeds of such a sale arenot withdrawn from a Plan, but used to acquire alternative Shareswithin your Plan (i.e. “a switch”) the handling charge is £10(plus VAT) per sale for all Plans.On each Transfer of an ISA (or part thereof) to another manager:a pro-rata proportion of the annual ISA administration charge, asdetailed in Part B, 2(a).Where Shares are withdrawn from a Plan, and re-registered intoa share certificate in your own or another name, a charge of £20(plus VAT) in respect of each Share re-registration, together witha handling charge specified in 10.1 (b) above.On any additional transaction or service, an additional chargemay be made by us (at a level to be agreed between you and us).Bid-offer spread: there is a difference between the buying andselling price of an investment trust at any one time. If you sellshares you will sell at the bid price which will always be lowerthan the prevailing offer price, the latter being the price youwould pay if you were buying shares.(g) Additional charges apply to ISAs only. Please refer to Part B.10.2 We will usually deduct any charges that are due from any cash balancethat is available in your Plan. However, if there is insufficient cashavailable we reserve the right to sell Shares to pay for theoutstanding charges.11 Making withdrawals from your Plan11.1 You can make withdrawals from your Plan at any time, subject to theminimum withdrawal limits listed below in 11.3 and provided that theinstruction is given and signed by you (or all Plan investors, where thereis more than one holder) as recorded on your Plan.11.2 Sales of investments will be carried out on the next dealing point afteroriginal written instructions, specifying the shares to be sold and signedby all investors, are received. Online withdrawal instructions will onlybe accepted in respect of Plans opened in a single name.11.3 Withdrawals are subject to a minimum withdrawal amount of£250 except where your entire holding of a Share is being sold orif it is an Investment Plan for Children where the minimum is £150.Your remaining holding in that Share must have a value in excess of£1,000 if it is an ISA, £250 if it is a Share Plan and £150 if it is anInvestment Plan for Children following any withdrawal, otherwisewe reserve the right to sell the entire holding in that Share for you.Withdrawals will be met firstly from any cash and then by sellinginvestments. The net proceeds due to you will be the proceeds ofthe sale of the relevant investments (plus any other uninvested cash),less any transaction charges as set out in ‘our charges and other taxesthat may be payable’ above.11.4 Any withdrawal from the Investment Plan for Children will be made byus by cheque made payable to the account holder not the beneficiarynamed at the time the Investment Plan for Children was opened, or inthe case of the withdrawal of income, paid by direct credit to a bankaccount held in the name of the account holder.11.5 For all withdrawals, net sale proceeds will be sent to you at yourregistered address (or, if you so request in writing, directly to your bankor building society account in the form of a cheque) usually within sixBusiness Days of the dealing date. Where we hold verified bank detailsfor you, we can, if you wish, credit proceeds directly to your bankaccount via BACS, within 3 days of the settlement date. This paymentcan take a further 3 days to reach your bank account.11.6 In the event that we are unable to sell investments on the relevantBusiness Day, the sale will be made as soon as practicable thereafter.11.7 If your Plan is terminated we will register your investments in yourname, issue applicable share certificates to you, and return uninvestedcash balances. We reserve the right to impose the charge specified inCondition 10.1(b) in respect of each investment so registered.12 DeathShares in the Investment Trusts form part of your estate and, on productionof the death certificate and grant of probate or letters of administration,Shares can be sold or re-registered in the name of the executors,administrators of the estate, beneficiary or in the name of the survivingShareholder. If your Plan is an ISA it will cease to attract any tax benefits.For all Plans, the assets will be held by us awaiting instructions from yourpersonal representatives, who may direct that the Shares be sold or thatthey be registered in the names of the appropriate beneficiaries, subjectto any restrictions relating to minimum holdings.13 Complaints and Compensation13.1 If you have any complaint in respect of the operation of these Termsand Conditions or your investment in general, this should be made inwriting to the Complaints Team, Aberdeen Asset Managers Limited,10 Queen’s Terrace, Aberdeen, AB10 1YG. A leaflet detailing ourcomplaints procedures is available on request. If the complaint is notresolved by us to your satisfaction then you may take your complaintto the Financial Ombudsman Service. In order to contact the FinancialOmbudsman Service or obtain details of the compensation scheme youshould write to The Financial Ombudsman Service, Exchange Tower,London, E14 9SR. Alternatively, call 0300 123 9 123 or0800 023 4567.13.2 If you make a valid claim against us in respect of the Investments webuy or sell on your behalf, and we are unable to meet our liabilitiesin full, for example if we become insolvent, you may be entitled toredress from the Financial Services Compensation Scheme (FSCS).Details are available from the FSCS Helpline on 0800 678 1100 or020 7741 4100 and on the FSCS website: www.fscs.org.ukaberdeen-asset.co.uk19


Terms and Conditions continued14 How we use your informationWe may record and use any information held about you during the course ofour relationship with you. This information will be used to open, administerand when appropriate, close your Plan.We may share information about you with other members of the AberdeenAsset Management PLC group of companies (“Aberdeen group”).We shall treat your information, including dealings with us, as private andconfidential. As such, we shall not disclose such information to non-affiliatedcompanies, except as described below.Third party disclosures may include sharing information with non-affiliatedcompanies who perform various services on our behalf. These companies arerequired to ensure appropriate security measures are in place and maintainthe confidentiality of such information to the extent that they receive it, andto use your information only in the course of providing such services andonly for the purposes that we dictate. These non-affiliated companies (andmembers of the Aberdeen group), however, may be based in countries whereprivacy laws do not exist or provide less protection than under the DataProtection Act 1998.We may, also, disclose your information to fulfil your instructions orpursuant to your express consent. Finally, under limited circumstances,your information may be disclosed to non-affiliated companies aspermitted by, or to comply with, applicable laws and regulations.You have the right to access your information at any time to check whetherit is accurate and up-to-date and you should write to Aberdeen AssetManagers Limited, Customer Services, Freepost RTEU-YTET-HCAA if youwish to do so. There may be a charge for this. By submitting the ApplicationForm or investing in Shares, you expressly consent to the processing anddisclosure of your information as outlined above.We and/or other members of the Aberdeen group may contact you by post,telephone or e-mail to inform you about our products and services that weconsider may be of interest to you. If you wish to be contacted for marketingpurposes, please mark the appropriate box on the Application Form, under‘Data Protection Statement’.15 Anti Money Laundering and Countering the Financing of Terrorism15.1 We are required to verify the identity of investors in order to complywith UK anti-money laundering legislation. This involves obtainingindependent documentary evidence confirming identity and permanentresidential address. This may involve an electronic check of information.By signing an Application Form, you will give us the right to accesssuch information under the Data Protection Act 1998. Any ‘BeneficialOwners’ must be identified on the Application Form or on a declarationform issued after the original investment.15.2 A Beneficial Owner is an individual who ultimately owns or controlsan investor or on whose behalf an Investment is being made. For thepurposes of these Terms and Conditions a ‘Beneficial Owner’ can besummarised as follows:(i) the registered investor - this must be confirmed.(ii) another person or persons not listed as an investor but onwhose behalf an Investment is being made - the full namesmust be provided.(iii) a body corporate - the full names of any persons that ultimatelyown or control (whether through direct or indirect ownershipor control, including bearer share holdings) 25% or more of theshares or the voting rights in the body, or exercises control overthe management of the body.(iv) a partnership - the full names of any persons that are ultimatelyentitled to or control (whether the entitlement or control isdirect or indirect) a 25% share or more of the capital or profitsof the partnership or 25% or more of the voting rights in thepartnership, or exercises control over the management ofthe partnership.(v)a trust or charity - the full names of those individuals who areentitled to 25% or more of the trust’s assets or the class or personmust be detailed, or any individual who has control over the trust.We reserve the right to request further information to identify otherbeneficial owners if required. You agree to inform us of any changesto the identity and details of Beneficial Owners as soon as possible.We reserve the right to refuse any application to invest if, in ourreasonable opinion, we do not obtain sufficient evidence to confirmthe identity of investors, including Beneficial Owners. Failure to provideany documentation requested in respect of any instruction to sell(in accordance with clause 11) may result in a delay in the realisationproceeds being released.16 Liability and Indemnity16.1 We and our directors, officers, employees or agents do not acceptany liability for loss, including loss of profit, costs, taxes or expensessuffered or incurred by you as a result of or in connection with theprovision of services under these Terms and Conditions by us, unless,and then only to the extent that, such loss, costs, taxes or expenses arecaused by negligence, fraud, breach of contract or wilful default on ourpart or on the part of any of our associates in the provision of services.In addition, we do not seek to exclude or restrict any duty or liabilitywhich we may have to you under the FCA Rules.16.2 We do not guarantee any particular investment performance andwill not be responsible for any loss of opportunity whereby the valueof your Investments could have been increased or for any decline inthe value of your Investments unless such decline or loss is the directresult of our negligence, fraud, breach of contract, wilful default ora failure by us to comply with your instructions properly given to usor our agents. You will be responsible for any loss arising as a resultof our acting upon your instructions. We may rely upon any notice,permission, request or instruction we reasonably believe to be genuineor to be signed by properly authorised individuals. We may declineto accept or act upon any instruction or other communication whichwe reasonably believe not to have been validly provided and, wherepracticable, we will provide you with written notification of this.In such cases, we will not be liable for any losses (including adversemarket movements), damages or costs incurred by you or by anythird party as a result.16.3 We do not accept any responsibility for any loss suffered by you as aresult of any failure by your bank or building society to make paymentsin accordance with the Direct Debit instruction. Neither the issuersof Shares nor their directors will be liable for any loss that may besuffered by you or for any misconduct or irregularity on our part incarrying out our responsibilities under a Plan.16.4 We will not be in breach of these Terms and Conditions, and will not beliable for any loss or damage incurred by you as a result of any total orpartial failure, interruption or delay in performance of our duties andobligations occasioned by any reason beyond our control, includingbut not limited to an act of God, fire, act of government, state,governmental or supranational body or authority, war, civil commotion,terrorism, failure of any computer system, interruptions of powersupply, or labour disputes of whatever nature.20 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Terms and Conditions continued17 AssignmentThis Agreement and your participation in a Plan is personal to you and youwill not be able to assign or transfer it. We may appoint an appropriateassociate to act as manager in our place.18 Closure of your Plan18.1 This Agreement may be terminated by you at any time by givingwritten notice to us and by us at any time by giving one month’swritten notice to you, but any termination will not prevent thecompletion of any transactions already initiated and will be subjectto any such transactions being completed. Any notice will be deemedto have been given by us three days after it is sent.18.2 In the event of your fraud, we may terminate thisAgreement immediately.18.3 Termination will not affect the completion of transactions alreadyinitiated which will be completed in accordance with these Termsand Conditions, or any of your rights.18.4 On termination, you will not be charged other than the following:(i) any outstanding fees and charges due; and(ii) any losses necessarily realised in settling or concludingoutstanding obligations.18.5 If you close your Plan, any income on your Plan will be paid as soon aspracticable after receipt by us.18.6 We may give written notice to inform you where any Share is no longercapable of being held within a Plan. We will contact you in writingregarding your options and reserve the right to re-register the relevantShares in your name outside the Plan if it has not been possible tomake contact within two months.18.7 Fees and charges are as set out in the Key Features Document. Wereserve the right to discount or waive any charge in whole or in part.19 AmendmentWe may from time to time change these Terms and Conditions by givingone month’s prior written notice of any change to you, except as otherwisestated below. We may make changes without giving notice to you providingwe have satisfied ourselves that the effects of the amendments mean thatyou receive no less favourable terms for your Plan under the revised Termsand Conditions. Any changes to the Terms and Conditions will bind youunless notice is received in writing by us of your intention to withdrawfrom your Plan(s).20 Governing LawThese Terms and Conditions, together with any Application Form pre-printedby us and which you have completed to open a Plan, represent the entireterms on which a Plan is managed for you.These Terms and Conditions are governed by English law. Contractualobligations are provided in English, and all communications will bein English.21 How To Contact UsIf you need to get in touch, including to give us instructions inrelation to a Plan, our address is as follows:Aberdeen Asset Managers LimitedPO Box 11020, Chelmsford, CM99 2DBAlternatively, please contact us by the below ways:Investor Helpline: 0500 00 00 40.E-mail: inv.trusts@aberdeen-asset.comFor more information regarding the Investment Trusts,please visit invtrusts.co.uk.September 2014Aberdeen Asset Managers Limitedaberdeen-asset.co.uk21


Terms and Conditions continuedPART B - ADDITIONAL TERMS AND CONDITIONS FOR ISA INVESTORS(‘ISA TERMS AND CONDITIONS’)These ISA Terms and Conditions apply to you if you are invested in the AberdeenInvestment Trusts ISA (‘ISA’). They are in addition to Part A (General Terms andConditions) which also apply to you.We are an ISA manager approved by HMRC. We will manage your ISA inaccordance with the Regulations. If there is any conflict between theRegulations and these ISA Terms and Conditions, the Regulations will prevail.We offer a Stocks and Shares ISA. We do not offer a Cash ISA nor do we offera Junior ISA.The tax regime applicable to ISAs may change.1 Investing in your ISA1.1 You may apply to:(a) Open an ISA provided you are a Qualifying Individual who hasnot, in the case of an application to open a Stocks and SharesISA, subscribed to another Stocks and Shares ISA in the sameTax Year; or(b)(c)Transfer a Stocks and Shares ISA to be held as an AberdeenInvestment Trusts ISA.Transfer a Cash ISA, to be held as an Aberdeen InvestmentTrusts ISA.1.2 You must invest in an ISA using your own cash.1.3 You must complete a new ISA Application Form if you want to investin your ISA but have not done so in the previous Tax Year.1.4 It is your responsibility to ensure that you do not exceed the annualmaximum you can invest in an ISA in each Tax Year. The currentannual maximum is stated in the Key Features Document (under‘Your commitment’) and on the ISA Application Form.2 ChargesThe following ISA-specific charges are in addition to those outlined in‘Our charges and other taxes that may be payable’ (see Part A, section 10):(a) An annual ISA administration charge of £24 (plus VAT), applied once ayear, on the last Business Day of March. This charge will accrue on yourPlan and will be collected by Direct Debit or, if there is no valid DirectDebit mandate in place, paid out of the available cash in the Plan anddeducted prior to the distribution or reinvestment of any income.Where there is insufficient cash in your ISA to pay the administrationcharge, we reserve the right to sell investments to pay this charge.(b)If we are required to void your ISA, in whole or in part, anadministration charge of £100 (plus VAT) will be deducted ineach case. If there is insufficient cash in your ISA, we shallhave the right to sell investments to pay this charge.3 Transfers and Withdrawals3.1 You may transfer to us an ISA held with another ISA manager. If youare transferring a Stocks and Shares ISA to us, please be aware that weonly accept cash from other managers, so your current holdings willneed to be sold by your current ISA manager before the cash proceedsare transferred to us. Where you transfer an ISA to us, we reserve theright to reject income distributions paid by your former ISA Managerafter the date of transfer where these are less than £50. In thesecircumstances the dividend cheque will be returned to your formerISA Manager for reissue directly to you.3.2 You may instruct us to transfer your ISA in whole, or in part in thecases of ISA subscriptions relating to previous Tax Years, to anotherISA manager. The application to transfer an ISA from Aberdeen mustbe made by Application Form to your new ISA manager who willcontact us to arrange the transfer. A pro-rata proportion of the annualISA administration charge, as detailed in Part B, 2(a) will be payable byyou. We will aim to complete the transfer within a reasonable period oftime but you should be aware that it could take up to 30 days from thedate we receive your instructions.3.3 You have the right to withdraw from the Plan any investment, interestdividends, rights or other proceeds in respect of investments or cashheld within your Plan, and to have these either transferred or paidto you. Investments withdrawn from an ISA lose the associated ISAtax-free status but will still count towards your relevant annualISA allowance.4 HMRC4.1 We will notify you if by reason of any failure to satisfy the provisionsof the Regulations your ISA has or will become void.4.2 You authorise us to disclose any information relating to your ISA toHMRC and to make all appropriate claims, conduct appeals and toagree on your behalf liabilities and relief from tax in respect of therelevant Plan.5 If you move abroad5.1 If you move abroad you will not be able to make any additionalinvestments into your ISA.5.2 You must inform us immediately if you cease to be UK residentfor tax purposes, or if being non-resident you cease to qualify as aCrown employee, or the spouse/civil partner of a Crown employee.5.3 If you are unsure of your residence status you should contactyour own tax office. If you do not have a tax office, you should phonethe residency helpline - 0845 300 0627 if calling from inside the UK,or +44 135 535 9022 if calling from outside the UK. The Helplineis open from 8.00am to 8.00pm Monday to Friday; and 8.00am to4.00pm on Saturdays. It is closed on Sundays and Bank Holidays.Alternatively, you can contact HMRC from their website at:http://www.hmrc.gov.uk/cnr/email.htm22 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Terms and Conditions continued6 Closure of your ISA6.1 This Agreement may be terminated by you at any time by givingwritten notice and by us at any time by giving you one month’swritten notice, but any termination will not prevent the completionof any transactions already initiated and will be subject to any suchtransactions being completed. We will make such payments to youor otherwise as agreed. At your request and within such time as shouldbe stipulated by you, you may instruct us to transfer the holdings inyour ISA to you at any time.6.2 In the event of your fraud, we may terminate this Agreementimmediately.6.3 Except in the case of an ISA where you are continuing to save monthly,we reserve the right to terminate your ISA should the value of yourholdings fall below £1,000. Your holding in each Investment Trustmust have a value in excess of £1,000.6.4 On termination, all Investments held in the ISA and proceeds arisingfrom those Investments will be paid to you within the normalsettlement period, as set out in Part A, under ‘Making withdrawalsfrom Your Plan’.6.5 Should we cease to act as an ISA Manager we shall be entitled toterminate this Agreement in respect of your ISA by giving you onemonth’s written notice. You shall be entitled to transfer your Planto another ISA Manager or ISA Managers.6.6 Termination will not affect the completion of transactions alreadyinitiated which will be completed in accordance with these Termsand Conditions, or any of your rights.6.7 On termination, you will not be charged other than the following:(i) any outstanding fees and charges due; and(ii) any losses necessarily realised in settling or concludingoutstanding obligations.6.8 Fees and charges are as set out in the Key Features Document.We reserve the right to discount or waive any charge in wholeor in part.September 2014Aberdeen Asset Managers Limitedaberdeen-asset.co.uk23


Notes24 Aberdeen Investment Trusts ISA, Share Plan and Investment Plan for Children


Notesaberdeen-asset.co.uk25


06 4000_0814


Dunedin Income Growth Investment TrustISA Application FormTo: Aberdeen Investment Trusts, PO Box 11020, Chelmsford, Essex CM99 2DB.IF YOU ARE A RESIDENT, NATIONAL OR CITIZEN OF THE UNITED STATES, WE ARE UNABLE TO ACCEPT YOUR APPLICATION FORM.A – Personal details (please use BLOCK CAPITALS)B – Investment detailsTitleSurnameI wish to invest for the tax year / (eg. 14/15):Forename(s)Permanent residential addressDaytime telephone number (Include STD code) AEmail addressPostcodeIf you are happy for Aberdeen Asset Managers to contact you formarketing purposes by this email address, please tick this box.We will only use the email address quoted.Date of birth (dd/mm/yy) National Insurance number/ /Please tick the box if you do not have a National Insurance number:Note: You must be 18 or over to invest. You must fill out your Postcode,National Insurance Number and your Date of Birth. If you do not knowyour National Insurance Number, you should be able to find it on a payslip,form P45 or P60, a letter from HM Revenue & Customs, a letter fromthe DWP, or pension order book.Lump sumA lump sum of £(minimum investment £1,000, maximum £15,000 B per tax year fora Stocks and Shares ISA; investment minimum of £250 per investmenttrust). Please enclose a cheque D made payable to Aberdeen Asset ManagersClient Account.and/orMonthly savingsA monthly amount of £(maximum you can invest in a Stocks and Shares ISA is £1,250 C per monthand the minimum is £100 per month per trust.) Please enclose a cheque Dor banker’s draft for your first contribution made payable to AberdeenAsset Managers Client Account.Direct Debit – For monthly savings please ensure you complete and return theenclosed Direct Debit form.AOnly to be used in case of queryBThe maximum sum for an ISA investment is £15,000 for the currenttax year until 5th April 2015.CThe maximum monthly investment for an ISA is £1,250, if investing for12 months.D All payments made by cheque should be made payable to Aberdeen AssetManagers Client Account. Building Society cheques must clearly identify theinvestor as the account holder, e.g. Aberdeen Asset Managers Client AccountA/C Mr A Smith.C – Investment optionsI wish to invest in the following trust:Investment trust nameSEDOL Code(for office use)Dunedin Income Growth Investment Trust 0340609Lump sum amount(minimum £250 per trust)Monthly savings amount(minimum £100 per trust)TOTAL £ £121016169


D – Data protection statementWe may record and use any information held about you during the courseof our relationship with you for the purposes of carrying out our agreementwith you.We may share information about you: (i) with other members of the AberdeenAsset Management PLC group of companies (“Aberdeen group”) and tonon-affiliated companies who perform various services on our behalf, includingthose where privacy laws do not exist or provide less protection than under theData Protection Act 1998; (ii) when required by applicable laws and regulations.By submitting this Application Form or investing in Shares, you expresslyconsent to the processing and disclosure of your information at set out inmore detail in the Terms and Conditions, Part A, section 14.We and/or other members of the Aberdeen group may contact you by post,telephone or e-mail to inform you about our products and services that weconsider may be of interest to you. If you wish to be contacted for marketingpurposes, please mark this box with an ‘X’E – Financial adviserPlease complete if investing with an adviserAdviser’s nameF – Income facilityPlease complete this section if you wish to take a regular income fromyour ISA. (See the Key Features document).Please note: This section is not applicable if you wish your dividends to bere-invested in additional shares. Distributable income will be paid by directcredit to your bank/building society and cheques cannot be sent.Details of Bank/Building Society to be completed if you want income paidto your account.Name of bank or building societyAddressBuilding society roll numberName of account holderPostcodeAgency codeAccount numberAdviser’s special requirementsSort code- -Adviser’s stamp (if applicable)ISA Administration ChargeTo pay your annual ISA Administration Charge by Direct Debit please completethe enclosed Direct Debit Form and tick the box belowNote - if you are also setting up a monthly Direct Debit contribution thenone mandate will cover both your monthly contributions and the annual ISAadministration charge.G – DeclarationPlease sign the declaration below.I declare that :• all subscriptions made, and to be made, belong to me;• I am 18 years of age or over;• I have not subscibed, and will not subscribe, more than the overallsubscription limit in total to a Cash ISA and a Stocks and Shares ISA inthe same tax year;• I have not subscribed, and will not subscribe, to another Stocks andShares ISA in the same tax year that I subscribe to this Stocks and SharesISA, and;• I am resident in the United Kingdom for tax purposes or, if not so resident,either perform duties which, by virtue of Section 28 of Income Tax (Earnings& Pensions) Act 2003 (Crown employees serving overseas), are treated asbeing performed in the United Kingdom, or I am married to, or in a civilpartnership with, a person who performs such duties. I will inform Aberdeenif I cease to be so resident or to perform such duties or be married to, or in acivil partnership with, a person who performs such duties.I authorise Aberdeen Asset Managers Limited:• to hold my cash subscription, ISA investments, interest, dividends and anyother rights or proceeds in respect of those investments and any other cash;and• to make on my behalf any claims to relief from tax in respect of ISAinvestments.I agree to the ISA Terms and Conditions;I declare that this application form has been completed to the bestof my knowledge and belief;I agree to the Terms and Conditions within the Dunedin Income Growth InvestmentTrust ISA and Share Plan brochure. I have retained a copy of the Key Features.SignatureDate/ /Aberdeen Asset Managers Limited (authorised and regulated by the Financial Conduct Authority in the United Kingdom).Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered number SC108419.06 4089_0814


Dunedin Income Growth Investment TrustShare Plan Application FormTo: Aberdeen Investment Trusts, PO Box 11020, Chelmsford, Essex CM99 2DB.• Please complete this section if you are applying for shares in your own name or if you are investing on behalf of a child and will be controlling this investment.• Up to 4 applicants may apply jointly for the Plan. If there are more than 2 applicants, please specify the names and personal details of the additionalapplicant(s) on a separate sheet of paper and attach it to this form.• In section A, you must tell us about all countries in which you are resident for tax purposes. In certain circumstances (including if we do not receive a validself-certification from you) we may be obliged to share information on your account with HMRC. If you have any questions about your tax residency,please contact your tax adviser.• Should any information you provide change in the future, please ensure that you advise us of the changes promptly.IF YOU ARE A RESIDENT, NATIONAL OR CITIZEN OF THE UNITED STATES, WE ARE UNABLE TO ACCEPT YOUR APPLICATION FORM.A – Personal details (please use BLOCK CAPITALS)FIRST APPLICANTMr Mrs Miss OtherSurnameSECOND APPLICANTMr Mrs Miss OtherSurnameForename(s) in fullForename(s) in fullAddressAddressPostcodePostcodePhone: DayEmailEveningPhone: DayEmailEveningDate of birth (dd/mm/yyyy) / /Date of birth (dd/mm/yyyy) / /Country/Countries of Tax Residency ATax Reference Number ACountry/Countries of Tax Residency ATax Reference Number AIf you are not a resident in any countryfor tax purposes, please tick this boxIf you are not a resident in any countryfor tax purposes, please tick this boxIf you are an existing Aberdeen client, please provide your account number here:Account designation: You must be 18 or over to invest. Purchases for childrenmust be registered in the name of an adult designated with the child’s name(maximum of 28 characters)APlease indicate all countries in which you are resident for tax purposes and the associated Tax Reference Numbers(such as your National Insurance Number in the UK) in the table above.121016169


B – Investment detailsI wish to invest:A lump sum of £(minimum investment £250 per trust). Please enclose a cheque B made payable to Aberdeen Asset Managers Client Account.and/orA regular amount of £(minimum investment £100 per trust). Please enclose a cheque B or banker’s draft for your first contribution made payable to Aberdeen Asset Managers Client Account.Please also complete the Direct Debit Form included within this pack.B Building Society cheques must clearly identify the investor as the account holder, e.g. Aberdeen Asset Managers Client Account A/C Mr A Smith.C – Investment optionsI wish to invest in the following investments:Investment trust nameSEDOL Code(for office use)Dunedin Income Growth Investment Trust 0340609Lump sum amount(minimum £250 per trust)Monthly savings amount(minimum £100 per trust)TOTAL £ £D – Data protection statementWe may record and use any information held about you during the courseof our relationship with you for the purposes of carrying out our agreementwith you.We may share information about you: (i) with other members of the AberdeenAsset Management PLC group of companies (“Aberdeen group”) and tonon-affiliated companies who perform various services on our behalf, includingthose where privacy laws do not exist or provide less protection than under theData Protection Act 1998; (ii) when required by applicable laws and regulations.By submitting this Application Form or investing in Shares, you expresslyconsent to the processing and disclosure of your information at set out inmore detail in the Terms and Conditions, Part A, section 14.We and/or other members of the Aberdeen group may contact you by post,telephone or e-mail to inform you about our products and services that weconsider may be of interest to you. If you wish to be contacted for marketingpurposes, please mark this box with an ‘X’E – Financial adviserPlease complete if investing with an adviserAdviser’s nameAgency codeAdviser’s special requirementsAdviser’s stamp (if applicable)


F – Income facilityPlease complete this section if you wish to take a regular income from theShare Plan. (See the Key Features document).Please note: This section is not applicable if you wish your dividends to bere-invested in additional shares. Distributable income will be paid by directcredit to your bank/building society and cheques cannot be sent.Details of Bank/Building Society to be completed if you want incomepaid to your account.Name of bank or building societyG – Payment verification for third partiesIf someone else is purchasing shares by cheque for you, in your name as a gift,they must complete the following section.TitleForename(s)SurnamePermanent residential addressAddressPostcodeBuilding society roll numberName of account holderAccount numberSort code- -PostcodeDate of Birth/ /Anti money laundering verificationUnder UK legislation to prevent money laundering, the manager is requiredto verify the identities of investors. In the case of individuals it is required toestablish the identity of any individuals who have a specified beneficial interestin the shares that are not named on the Application. The applicant retains legaltitle to the shares and instructions will only be accepted from the applicant.The beneficial owner details are required for money laundering purposes only.By signing this Application form, you confirm that you have providedall required beneficial ownership details attached to the investment.H – Declaration (in the case of joint applicants both must sign)Please sign the declaration below.I declare that :I/We agree to the Terms and Conditions within the Aberdeen Investment TrustsISA and Share Plan brochure. I/We have retained a copy of the Key Features.I/We will inform the Administrator in writing immediately of any changesin my/our circumstances, including changes to my/our tax residency.Your identity will be verified for anti-money laundering purposes. This mayinclude obtaining information about you from a credit reference agency andthis information will only be used for verification of your identity.The information on this application form is correct to the best of my/ourknowledge and belief.First applicant’s signatureDate/ /Second applicant’s signatureDate/ /Aberdeen Asset Managers Limited (authorised and regulated by the Financial Conduct Authority in the United Kingdom).Registered office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered number SC108419.


06 4090_0814


Dunedin Income Growth Investment TrustISA Transfer FormTo: Aberdeen Investment Trusts, PO Box 11020, Chelmsford, Essex CM99 2DB.Including notification to existing ISA Manager of intention to transfer a Cash ISA or a Stocks and Shares ISA to the Aberdeen Investment Trusts ISA.IF YOU ARE A RESIDENT, NATIONAL OR CITIZEN OF THE UNITED STATES, WE ARE UNABLE TO ACCEPT YOUR APPLICATION FORM.A – Personal details (please use BLOCK CAPITALS)ISA account number (existing Aberdeen clients only)B – ISA detailsPlease indicate what you would like to transfer:TitleSurnameCash ISAForename(s)Permanent residential addressDaytime telephone number (Include STD code) AEmail addressIf you are happy for Aberdeen Asset Managers to contact you formarketing purposes by this email address, please tick this box.We will only use the email address quoted.Stocks and Shares ISACurrent tax year only:You must transfer your entire holding.Previous tax year(s) only:You can transfer all or part of your account.Current and previous tax year(s):You can transfer any amount provided you transfer a cash amountat least equal to the current year's subscription.Note: You can transfer either the whole of your current year Cash ISA and/orStocks and Shares ISA and/or the whole or just part of previous years’ Cash ISAsand/or Stocks and Shares ISAs to us.Please note that the Aberdeen Investment Trusts ISA is a Stocks and SharesISA so if you decide to transfer a Cash ISA to us, it will become a Stocks andShares ISA.Date of birth (dd/mm/yy)National Insurance number/ /Note: You must be 18 or over to invest. You must fill out your Postcode,National Insurance Number and your Date of Birth. If you do not know yourNational Insurance Number, you should be able to find it on a payslip, formP45 or P60, a letter from HM Revenue & Customs, a letter from the DWP,or pension order book.AOnly to be used in case of queryC – Investment optionsI wish the proceeds of my transferred ISA to be applied in the purchase of the following investment trust.Please list the name of the trust(s) you would like to transfer to.Investment trust nameSEDOL Code(for office use)Choose trust(s) requiredand insert % to be transferredDunedin Income Growth Investment Trust 0340609 %%%%TOTAL (should equal 100%) 100%121016169


D – Data protection statementWe may record and use any information held about you during the courseof our relationship with you for the purposes of carrying out our agreementwith you.We may share information about you: (i) with other members of the AberdeenAsset Management PLC group of companies (“Aberdeen group”) and tonon-affiliated companies who perform various services on our behalf, includingthose where privacy laws do not exist or provide less protection than under theData Protection Act 1998; (ii) when required by applicable laws and regulations.By submitting this Application Form or investing in Shares, you expresslyconsent to the processing and disclosure of your information at set out inmore detail in the Terms and Conditions, Part A, section 14.We and/or other members of the Aberdeen group may contact you by post,telephone or e-mail to inform you about our products and services that weconsider may be of interest to you. If you wish to be contacted for marketingpurposes, please mark this box with an ‘X’E – Financial adviserPlease complete if investing with an adviserAdviser’s nameF – Income facilityPlease complete this section if you wish to take a regular income fromthe Investment Trusts ISA. (See the Key Features document).Please note: This section is not applicable if you wish your dividends to bere-invested in additional shares. Distributable income will be paid by directcredit to your bank/building society and cheques cannot be sent.Details of Bank/Building Society to be completed if you want income paidto your account.Name of bank or building societyAddressBuilding society roll numberName of account holderPostcodeAgency codeAccount numberAdviser’s special requirementsSort code- -Adviser’s stamp (if applicable)ISA Administration ChargeTo pay your annual ISA Administration Charge by Direct Debit please completethe enclosed Direct Debit Form and tick the box belowNote: If you are also setting up a monthly Direct Debit contribution thenone mandate will cover both your monthly contributions and the annual ISAadministration charge.G – DeclarationPlease sign the declaration below.I declare that :• all subscriptions made, and to be made, belong to me;• I am 18 years of age or over;• I have not subscribed, and will not subscribe, more than the overallsubscription limit in total to a Cash ISA and Stocks and Shares ISAin the same tax year;• I have not subscribed, and will not subscribe, to another Stocks and SharesISA in the same tax year that I subscribe to this Stocks and Shares ISA, and;• I am resident in the United Kingdom for tax purposes or, if not so resident,either perform duties which, by virtue of Section 28 of Income Tax (Earnings& Pensions) Act 2003 (Crown employees serving overseas), are treated asbeing performed in the United Kingdom, or I am married to, or in a civilpartnership with, a person who performs such duties. I will inform Aberdeenif I cease to be so resident or to perform such duties or be married to,or in a civil partnership with, a person who performs such duties.I authorise Aberdeen Asset Managers Limited:• to hold my cash subscription, ISA investments, interest, dividends and anyother rights or proceeds in respect of those investments and any other cash;and• to make on my behalf any claims to relief from tax in respect of ISAinvestments.I agree to the ISA Terms and Conditions;I declare that this application form has been completed to the best of myknowledge and belief;I agree to the Terms and Conditions within the Dunedin Income Growth InvestmentTrust ISA and Share Plan brochure. I have retained a copy of the Key Features.SignatureDate/ /Aberdeen Asset Managers Limited (authorised and regulated by the Financial Conduct Authority in the United Kingdom).Registered office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered number SC108419.06 4091_0814


Dunedin Income Growth Investment TrustISA Transfer Instruction FormTo: Aberdeen Investment Trusts, PO Box 11020, Chelmsford, Essex CM99 2DB.Notification to existing ISA Manager of intention to transfer a Cash ISA or a Stocks and Shares ISA to the Aberdeen Investment Trusts ISA.A – Personal details (please use BLOCK CAPITALS)TitleSurnameForename(s)Permanent residential addressB – Details of accounts to be transferredPlease indicate which account(s) you would like to be transferred.Cash ISAorStocks and Shares ISATransfer current tax year in its entirety*Daytime telephone number (Include STD code) APostcodeTransfer previous year’s subscription in its entirety*Enter tax year(s)AOnly to be used in case of queryTransfer part only of previous year’s subscription*Enter amountC – Current ISA managerISA ManagerISA Manager’s addressEnter tax year(s)Transfer all ISA holdings in full**Tick one box onlyISA account numberPostcodeD – Information for the current ISA managerCheques should be made payable to Aberdeen Asset Managers Client Account.Please forward this form together with the cheque, as soon as possible toAberdeen Investment Trusts, PO Box 11020, Chelmsford, Essex CM99 2DB.E – AuthorisationI hereby instruct you, as my current ISA Manager, as detailed above, to liquidatethe assets in my Stocks & Shares ISA and to transfer the proceeds to AberdeenAsset Managers and to provide Aberdeen with any information it may requestfrom you relating to my ISA. It is understood that you will be responsible forthe collection of outstanding distributions unless alternative arrangementsare agreed with you by Aberdeen. (NB. Deductions may be incurred relating tooutstanding liabilities or charges according to the Terms and Conditions of theexisting ISA).SignatureDate/ /Aberdeen Asset Managers Limited (authorised and regulated by the Financial Conduct Authority in the United Kingdom).Registered office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered number SC108419.121016169


06 4092_0814


Aberdeen Investment TrustsDirect Debit FormPlease fill in the whole form including official use box using a ball point penand send to:Aberdeen Investment Trusts, PO Box 11020, Chelmsford,Essex CM99 2DB.Name and full postal address of your bankor building society branchInstructions to your Bank or Building Society to pay Direct DebitService User Number:2 7 3 3 5 7FOR ABERDEEN ASSET MANAGERS LIMITED USE ONLY(This is not part of the instruction to your bank or building society)To: The ManagerName of account holder:Account number:Sort code- -Name of bank or building societyAddressInstruction to your bank or building societyPlease pay Aberdeen Asset Managers Limited Direct Debits from the accountdetailed in this instruction subject to the safeguards assured by the Direct DebitGuarantee. I understand that this Instruction may remain with Aberdeen AssetManagers Limited and, if so, details will be passed electronically to my bank/building Society.Signature(s)PostcodeReference:Date/ /Banks and building societies may not accept Direct Debit instructions for some types of accounts.This guarantee should be detached and retained by the payer.The Direct Debit Guarantee• This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits.• If there are any changes to the amount, date or frequency of your Direct Debit, Aberdeen Asset Managers Limited will notify you 5 working days in advanceof your account being debited or as otherwise agreed. If you request Aberdeen Asset Managers Limited to collect a payment, confirmation of the amount anddate will be given to you at the time of the request.• If an error is made in the payment of your Direct Debit, Aberdeen Asset Managers Limited or your bank or building society, you are entitled to a full andimmediate refund of the amount paid from your bank or building society.– If you receive a refund you are not entitled to, you must pay it back when Aberdeen Asset Managers Limited asks you to.• You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.Aberdeen Asset Managers Limited (authorised and regulated by the Financial Conduct Authority in the United Kingdom).Registered office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered number SC108419.121007519


06 4013_0814

More magazines by this user
Similar magazines