Aberdeen Standard Select Portfolio – Shareholder Notice on Termination of US$ Class
We refer to the the notice informing unitholders on the termination of the US$ Class of each of the Sub-Funds of Aberdeen Standard Select Portfolio.
Under Clause 38(D) of the trust deed of the Fund dated 2 July 1997, as amended and restated (the “Deed”), a US$ Class of a Sub-Fund (and the Units relating thereto) may be terminated by the Manager in our absolute discretion by notice in writing if the average aggregate net asset value of the deposited property of that US$ Class shall be less than US$5,000,000.
In this regard, we wish to inform you that upon ongoing review of our current product offerings, the average aggregate net asset value of the deposited property of the US$ Class of each of the Sub-Funds is as set out in Appendix A of the attached notice. The quantum of such net asset values have resulted in an increase in expenses to holders of US$ Class Units of the Sub-Funds. Accordingly, we are of the view that the termination of the US$ Class of each of the Sub-Funds would be in the interests of holders of Units in such classes.
In view of the above, and pursuant to Clause 38(E) of the Deed, we hereby give you notice that we will be terminating the US$ Class of each Sub-Fund with effect on and from 28 December 2021 (the “Termination Date”). Please be informed that subscriptions into the US$ Class of each Sub-Fund will cease from 14 December 2021.
In view of the above upcoming terminations, you will have three options for consideration prior to the termination of the relevant US$ Class.
For more details , please refer to the shareholder notice.