# EDGAR Filing Document

**Accession Number:** 0001413594
**File Stem:** 0001104659-25-073688
**Filing Date:** 2025-8
**Character Count:** 22425
**Document Hash:** 8910f79dd84490f389dfec5fcefa45d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-073688.hdr.sgml**: 20250804

**ACCESSION NUMBER**: 0001104659-25-073688

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250804

**DATE AS OF CHANGE**: 20250804

**EFFECTIVENESS DATE**: 20250804

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** abrdn Funds
- **CENTRAL INDEX KEY:** 0001413594

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-146680
- **FILM NUMBER:** 251181245

**BUSINESS ADDRESS:**
- **STREET 1:** 1900 MARKET STREET
- **STREET 2:** SUITE 200
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103
- **BUSINESS PHONE:** 215-405-5700

**MAIL ADDRESS:**
- **STREET 1:** 1900 MARKET STREET
- **STREET 2:** SUITE 200
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aberdeen Funds
- **DATE OF NAME CHANGE:** 20070926

## Series and Classes Contracts Data

### abrdn China A Share Equity Fund (Series ID: S000020289)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | GOPAX         | C000056926 |
| Class C             | GOPCX         | C000056928 |
| Class R             | GOPRX         | C000056929 |
| Institutional Class | GOPIX         | C000056930 |

---

### abrdn U.S. Small Cap Equity Fund (Series ID: S000020297)

---

|  |  |  |
|:---|:---|:---|
| Class Name                  | Ticker Symbol | Class ID   |
| Class A                     | GSXAX         | C000056974 |
| Class C                     | GSXCX         | C000056976 |
| Class R                     | GNSRX         | C000056977 |
| Institutional Class         | GSCIX         | C000056978 |
| Institutional Service Class | GSXIX         | C000056979 |

---

### abrdn Emerging Markets Ex-China Fund (Series ID: S000020309)

---

|  |  |  |
|:---|:---|:---|
| Class Name                  | Ticker Symbol | Class ID   |
| Class A                     | GLLAX         | C000057046 |
| Class C                     | GLLCX         | C000057048 |
| Class R                     | GWLRX         | C000057049 |
| Institutional Class         | GWLIX         | C000057050 |
| Institutional Service Class | GLLSX         | C000057051 |

---

### abrdn Intermediate Municipal Income Fund (Series ID: S000020313)

---

|  |  |  |
|:---|:---|:---|
| Class Name                  | Ticker Symbol | Class ID   |
| Class A                     | NTFAX         | C000057070 |
| Institutional Class         | ABEIX         | C000123602 |
| Institutional Service Class | ABESX         | C000123603 |

---

### abrdn Infrastructure Debt Fund (Series ID: S000025401)

---

|  |  |  |
|:---|:---|:---|
| Class Name                  | Ticker Symbol | Class ID   |
| Institutional Class         | AGCIX         | C000075913 |
| Class A                     | CUGAX         | C000076084 |
| Institutional Service Class | CGFIX         | C000076087 |

---

### abrdn International Small Cap Fund (Series ID: S000025402)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | ABNIX         | C000075914 |
| Class C             | CPVCX         | C000076089 |
| Class R             | WPVAX         | C000076090 |
| Class A             | WVCCX         | C000076092 |

---

### abrdn Emerging Markets Fund (Series ID: S000026307)

---

|  |  |  |
|:---|:---|:---|
| Class Name                  | Ticker Symbol | Class ID   |
| Institutional Class         | ABEMX         | C000079068 |
| Institutional Service Class | AEMSX         | C000081085 |
| Class A                     | GEGAX         | C000111352 |
| Class C                     | GEGCX         | C000111353 |
| Class R                     | GEMRX         | C000111354 |

---

### abrdn U.S. Sustainable Leaders Fund (Series ID: S000033658)

---

|  |  |  |
|:---|:---|:---|
| Class Name                  | Ticker Symbol | Class ID   |
| Class A                     | GXXAX         | C000103444 |
| Institutional Class         | GGLIX         | C000103447 |
| Institutional Service Class | GXXIX         | C000103448 |

---

### abrdn Dynamic Dividend Fund (Series ID: S000061517)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | ADAVX         | C000199209 |
| Institutional Class | ADVDX         | C000199210 |

---

### abrdn Global Infrastructure Fund (Series ID: S000061518)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | AIAFX         | C000199211 |
| Institutional Class | AIFRX         | C000199212 |

---

### abrdn Short Duration High Yield Municipal Fund (Series ID: S000061519)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | AAHMX         | C000199213 |
| Institutional Class | AHYMX         | C000199214 |
| Class C             | ACHMX         | C000224176 |

---

### abrdn Real Estate Fund (Series ID: S000061521)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | AIGYX         | C000199217 |
| Class A             | AIAGX         | C000199218 |

---

### abrdn Ultra Short Municipal Income Fund (Series ID: S000061523)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | ATOAX         | C000199221 |
| Institutional Class | ATOIX         | C000199222 |
| Class A1            | ATOBX         | C000210496 |

---

### abrdn Focused Emerging Markets ex-China Fund (Series ID: S000072754)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | JETIX         | C000229254 |
| Class A             | JETAX         | C000229255 |

---

### abrdn High Income Opportunities Fund (Series ID: S000072755)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | JHYIX         | C000229256 |
| Class A             | BJBHX         | C000229257 |

---

## Series and Classes Contracts Data

### abrdn China A Share Equity Fund (Series ID: S000020289)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000056926 | Class A             | GOPAX           |
| C000056928 | Class C             | GOPCX           |
| C000056929 | Class R             | GOPRX           |
| C000056930 | Institutional Class | GOPIX           |

### abrdn U.S. Small Cap Equity Fund (Series ID: S000020297)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000056974 | Class A                     | GSXAX           |
| C000056976 | Class C                     | GSXCX           |
| C000056977 | Class R                     | GNSRX           |
| C000056978 | Institutional Class         | GSCIX           |
| C000056979 | Institutional Service Class | GSXIX           |

### abrdn Emerging Markets Ex-China Fund (Series ID: S000020309)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000057046 | Class A                     | GLLAX           |
| C000057048 | Class C                     | GLLCX           |
| C000057049 | Class R                     | GWLRX           |
| C000057050 | Institutional Class         | GWLIX           |
| C000057051 | Institutional Service Class | GLLSX           |

### abrdn Intermediate Municipal Income Fund (Series ID: S000020313)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000057070 | Class A                     | NTFAX           |
| C000123602 | Institutional Class         | ABEIX           |
| C000123603 | Institutional Service Class | ABESX           |

### abrdn Infrastructure Debt Fund (Series ID: S000025401)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000075913 | Institutional Class         | AGCIX           |
| C000076084 | Class A                     | CUGAX           |
| C000076087 | Institutional Service Class | CGFIX           |

### abrdn International Small Cap Fund (Series ID: S000025402)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000075914 | Institutional Class | ABNIX           |
| C000076089 | Class C             | CPVCX           |
| C000076090 | Class R             | WPVAX           |
| C000076092 | Class A             | WVCCX           |

### abrdn Emerging Markets Fund (Series ID: S000026307)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000079068 | Institutional Class         | ABEMX           |
| C000081085 | Institutional Service Class | AEMSX           |
| C000111352 | Class A                     | GEGAX           |
| C000111353 | Class C                     | GEGCX           |
| C000111354 | Class R                     | GEMRX           |

### abrdn U.S. Sustainable Leaders Fund (Series ID: S000033658)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000103444 | Class A                     | GXXAX           |
| C000103447 | Institutional Class         | GGLIX           |
| C000103448 | Institutional Service Class | GXXIX           |

### abrdn Dynamic Dividend Fund (Series ID: S000061517)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000199209 | Class A             | ADAVX           |
| C000199210 | Institutional Class | ADVDX           |

### abrdn Global Infrastructure Fund (Series ID: S000061518)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000199211 | Class A             | AIAFX           |
| C000199212 | Institutional Class | AIFRX           |

### abrdn Short Duration High Yield Municipal Fund (Series ID: S000061519)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000199213 | Class A             | AAHMX           |
| C000199214 | Institutional Class | AHYMX           |
| C000224176 | Class C             | ACHMX           |

### abrdn Real Estate Fund (Series ID: S000061521)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000199217 | Institutional Class | AIGYX           |
| C000199218 | Class A             | AIAGX           |

### abrdn Ultra Short Municipal Income Fund (Series ID: S000061523)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000199221 | Class A             | ATOAX           |
| C000199222 | Institutional Class | ATOIX           |
| C000210496 | Class A1            | ATOBX           |

### abrdn Focused Emerging Markets ex-China Fund (Series ID: S000072754)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000229254 | Institutional Class | JETIX           |
| C000229255 | Class A             | JETAX           |

### abrdn High Income Opportunities Fund (Series ID: S000072755)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000229256 | Institutional Class | JHYIX           |
| C000229257 | Class A             | BJBHX           |

**abrdn Funds**

**abrdn U.S. Small Cap Equity Fund**

**abrdn China A Share Equity Fund**

**abrdn Emerging Markets ex-China Fund**

**abrdn Emerging Markets Fund**

**abrdn Infrastructure Debt Fund**

**abrdn International Small Cap Fund**

**abrdn Intermediate Municipal Income Fund**

**abrdn U.S. Sustainable Leaders Fund**

**abrdn Dynamic Dividend Fund**

**abrdn Global Infrastructure Fund**

**abrdn Short Duration High Yield Municipal Fund**

**abrdn Real Estate Fund (formerly, abrdn Realty Income & Growth Fund)**

**abrdn Ultra Short Municipal Income Fund**

**abrdn Focused Emerging Markets ex-China Fund (formerly, abrdn Global Equity Impact Fund)**

**abrdn High Income Opportunities Fund**

**(each, a "Fund" and collectively, the "Funds")**

**Supplement dated August 4, 2025 to the Funds' Statement of Additional Information** **("SAI")<br> dated February 28, 2025, as supplemented to date** 

*Ms. Katie Gebauer was appointed as Chief Compliance Officer of the Trust on June 11, 2025. Effective immediately, t he following replaces the "OFFICERS OF THE TRUST" table in the section entitled "BOARD OF TRUSTEES AND OFFICERS OF THE TRUST" starting on page 81 of the Funds' SAI:*

---

| | | |
|:---|:---|:---|
| **OFFICERS OF THE TRUST** | **OFFICERS OF THE TRUST** | **OFFICERS OF THE TRUST** |
| **NAME, ADDRESS, AND YEAR OF<br> BIRTH** | **POSITION(S) HELD, LENGTH OF <br> TIME SERVED AND TERM OF <br> OFFICE \*** | **PRINCIPAL OCCUPATION DURING PAST<br> 5 YEARS** |
| Alan Goodson \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1974 | President and Chief Executive Officer<br>(Since 2022) | Currently, Executive Director and Head of Product & Client Solutions - Americas for abrdn Inc., overseeing Product Management & Governance, Product Development and Client Solutions for registered and unregistered investment companies in the U.S., Brazil and Canada. Mr. Goodson is Director and Vice President of abrdn Inc. and joined abrdn Inc. in 2000. |
| Katie Gebauer \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1986 | Vice President and Chief Compliance Officer<br>(Since 2025) | Currently, Head of U.S. Registered Fund Compliance. Ms. Gebauer joined abrdn Inc. in 2014. |
| Michael Marsico \*\*<br>abrdn Inc.<br> 1900 Market Street | Treasurer, Chief Financial Officer and Principal Accounting Officer<br>| Currently, Senior Product Manager – US for abrdn Inc. Mr. Marsico joined abrdn Inc. as a Fund Administrator in 2014. |

---

---

| | | |
|:---|:---|:---|
| Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1980 | (Since 2023) |  |
| Megan Kennedy \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1974 | Secretary and Vice President<br>(Since 2009) | Currently, Senior Director, Product Governance for abrdn Inc. Ms. Kennedy joined abrdn Inc. in 2005. |
| Lucia Sitar \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1971 | Vice President<br>(Since 2008) | Currently, Vice President and Head of Product Management and Governance for abrdn Inc. since 2020. Previously, Ms. Sitar was Managing U.S. Counsel for abrdn Inc. She joined abrdn Inc. as U.S. Counsel in 2007. |
| Joseph Andolina \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1978 | Vice President <br>(Since 2017) | Currently, Chief Risk Officer - Americas for abrdn Inc. and serves as the Chief Compliance Officer for abrdn Inc. Prior to joining the Risk and Compliance Department, he was a member of abrdn Inc.'s Legal Department, where he served as US Counsel since 2012. |
| Ben Moser \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1979 | Vice President<br>(Since 2018) | Currently, Head of Commercial Operations, Americas for abrdn Inc. Mr. Moser joined abrdn Inc. in July 2008. |
| Sharon Ferrari \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1977 | Vice President<br>(Since 2022) | Currently, Director, Product Management for abrdn Inc. Ms. Ferrari joined the company in 2008. |
| Heather Hasson \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200 | Vice President<br>(Since 2022) | Currently, Senior Product Solutions and Implementation Manager for abrdn Inc. Ms. Hasson joined the company in November 2006. |
| Philadelphia, PA 19103<br>Year of Birth: 1982 |  |  |
| Andrew Kim \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200 | Vice President<br>(Since 2022) | Currently, Senior Product Governance Manager – Attorney for abrdn Inc. Mr. Kim joined abrdn Inc. as a Product Manager in 2013. |

---

---

| | | |
|:---|:---|:---|
| Philadelphia, PA 19103<br>Year of Birth: 1983 |  |  |
| Robert Hepp \*\*<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1986 | Vice President<br>(Since 2022) | Currently, Senior Product Governance Manager for abrdn Inc. Mr. Hepp joined abrdn Inc. as a Senior Paralegal in 2016. |
| Matt Kence\*\* <br>abrdn Inc.<br> 28 State Street<br> 17th floor<br> Boston, MA 02109 <br>Year of Birth: 1974 | Vice President <br> (Since 2022) | Currently, Investment Director for abrdn Inc. |
| George Westervelt\*\* <br>abrdn Inc.<br> 28 State Street<br> 17th floor<br> Boston, MA 02109 <br>Year of Birth: 1977 | Vice President <br> (Since 2022) | Currently, Head of Global High Yield and Head of U.S. High Yield Research for abrdn Inc. |
| Ben Ritchie\*\* <br>abrdn Investments Limited<br> 280 Bishopsgate<br> London, E2M 4AG <br>Year of Birth: 1980 | Vice President <br> (Since 2022) | Currently, Head of the Developed Markets Equities team at Aberdeen. |
| Svitlana Gubriy\*\* <br>abrdn Inc.<br> 1 George Street<br> Edinburgh<br> EH2 2LL <br>Year of Birth: 1972 | Vice President <br> (Since 2022) | Currently, Head of Indirect Real Assets at Aberdeen. Ms. Gubriy joined the company in 2005. |
| Josh Duitz\*\* <br>abrdn Inc.<br> 875 Third Ave<br> 4th Floor, Suite 403<br> New York, NY 10022 <br>Year of Birth: 1970 | Vice President <br> (Since 2022) | Currently, Head of Global Income at abrdn Inc. Mr. Duitz joined abrdn Inc. in 2018 from Alpine Woods Capital Investors LLC where he was a Portfolio Manager. |
| Jonathan Mondillo\*\* <br>abrdn Inc.<br> 875 Third Ave<br> 4th Floor, Suite 403<br> New York, NY 10022 | Vice President <br> (Since 2022) | Currently, Global Head of Fixed Income. He joined the firm in 2018. Previously he managed mutual funds at Alpine Woods Capital Investors, LLC. |

---

---

| | | |
|:---|:---|:---|
| Year of Birth: 1983 |  |  |
| Devan Kaloo\*\* <br>abrdn Investments Limited<br> 280 Bishopsgate<br> London, E2M 4AG <br>Year of Birth: 1972 | Vice President <br> (Since 2022) | Currently, Global Head of Equities and Head of Global Emerging Markets Equities for abrdn. Mr. Kaloo joined abrdn in 2000 as part of the Asian equities team in Singapore. |
| Chris Colarik\*\* <br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103 <br>Year of Birth: 1972 | Vice President <br> (Since 2022) | Currently, Head of U.S. Smaller Companies at abrdn Inc. He joined the firm in March 2023. Previously, he was a portfolio manager at Glenmede Investment Management. |
| Nick Robinson\*\* <br>abrdn Investments Limited<br> 280 Bishopsgate<br> London, E2M 4AG <br>Year of Birth: 1978 | Vice President <br> (Since 2022) | Currently, Deputy Head of Global Emerging Market Equities on the Global Emerging Markets Equity team at Aberdeen. Mr. Robinson joined the company in 2000. |
| Awais Khan<br>abrdn Inc.<br> 1900 Market Street<br> Suite 200<br> Philadelphia, PA 19103<br>Year of Birth: 1986 | Vice President<br>(Since 2024) | Currently, Head of ETF Portfolio Management and Capital Markets for abrdn. Previously, he was a portfolio manager at The Vanguard Group. |
| Kolotioloma Silue\*\*<br>abrdn Inc.<br> 28 State Street<br> 17th floor<br> Boston, MA 02109<br>Year of Birth: 1977 | Vice President<br>(Since 2024) | Currently, Senior Product Manager for abrdn Inc. Mr. Silue joined abrdn Inc. in October 2023 from Tekla Capital Management where he was employed as a Senior Manager of Fund Administration. |
| \* Each officer holds office for an indefinite term at the pleasure of the Board of Trustees and until his or her successor is elected and qualified. | \* Each officer holds office for an indefinite term at the pleasure of the Board of Trustees and until his or her successor is elected and qualified. | \* Each officer holds office for an indefinite term at the pleasure of the Board of Trustees and until his or her successor is elected and qualified. |
| \*\* Each officer of the Trust holds officer position(s) in one or more of the following: abrdn Asia-Pacific Income Fund, Inc., abrdn Australia Equity Fund, Inc., abrdn Global Income Fund, Inc., abrdn Emerging Markets Equity Income Fund, Inc., The India Fund, Inc., abrdn Japan Equity Fund, Inc., abrdn Income Credit Strategies Fund, abrdn Global Dynamic Dividend Fund, abrdn Global Premier Properties Fund, abrdn Total Dynamic Dividend Fund, abrdn Global Infrastructure Income Fund, abrdn National Municipal Income Fund, abrdn Healthcare Investors, abrdn Life Sciences Investors, abrdn Healthcare Opportunities Fund, abrdn World Healthcare Fund and abrdn ETFs (consisting of 3 portfolios), each of which may also be deemed to be a part of the same "Fund Complex" as the Trust. | \*\* Each officer of the Trust holds officer position(s) in one or more of the following: abrdn Asia-Pacific Income Fund, Inc., abrdn Australia Equity Fund, Inc., abrdn Global Income Fund, Inc., abrdn Emerging Markets Equity Income Fund, Inc., The India Fund, Inc., abrdn Japan Equity Fund, Inc., abrdn Income Credit Strategies Fund, abrdn Global Dynamic Dividend Fund, abrdn Global Premier Properties Fund, abrdn Total Dynamic Dividend Fund, abrdn Global Infrastructure Income Fund, abrdn National Municipal Income Fund, abrdn Healthcare Investors, abrdn Life Sciences Investors, abrdn Healthcare Opportunities Fund, abrdn World Healthcare Fund and abrdn ETFs (consisting of 3 portfolios), each of which may also be deemed to be a part of the same "Fund Complex" as the Trust. | \*\* Each officer of the Trust holds officer position(s) in one or more of the following: abrdn Asia-Pacific Income Fund, Inc., abrdn Australia Equity Fund, Inc., abrdn Global Income Fund, Inc., abrdn Emerging Markets Equity Income Fund, Inc., The India Fund, Inc., abrdn Japan Equity Fund, Inc., abrdn Income Credit Strategies Fund, abrdn Global Dynamic Dividend Fund, abrdn Global Premier Properties Fund, abrdn Total Dynamic Dividend Fund, abrdn Global Infrastructure Income Fund, abrdn National Municipal Income Fund, abrdn Healthcare Investors, abrdn Life Sciences Investors, abrdn Healthcare Opportunities Fund, abrdn World Healthcare Fund and abrdn ETFs (consisting of 3 portfolios), each of which may also be deemed to be a part of the same "Fund Complex" as the Trust. |

---

**Please retain this Supplement for future reference.**