# EDGAR Filing Document

**Accession Number:** 0001413594
**File Stem:** 0001133228-23-000901
**Filing Date:** 2023-2
**Character Count:** 30377
**Document Hash:** 2e04a231c5f296d445d6e77c69d71867
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-23-000901.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001133228-23-000901

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**EFFECTIVENESS DATE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** abrdn Funds
- **CENTRAL INDEX KEY:** 0001413594
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-146680
- **FILM NUMBER:** 23687532

**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 Global Infrastructure Fund (Series ID: S000061518)

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

---

| | |
|:---|:---|
| **abrdn Funds: Summary Prospectus** | ![](sp203img001.jpg) |
| **abrdn Global Infrastructure Fund** | ![](sp203img001.jpg) |
|  | ![](sp203img001.jpg) |
| February 28, 2023 | ![](sp203img001.jpg) |

---

**Before you invest, you may want to review the Fund's Prospectus, which contains more information about the Fund and** **its risks. You can find the Fund's Prospectus, Statement of Additional Information, shareholder reports and other** **information about the Fund online at https://www.abrdn.com/en-us/us/investor/fund-centre#literature. You can also** **get this information at no cost by e-mailing a request to Investor.Services.US@abrdn.com, calling (866) 667-9231 or** **asking your financial advisor. The Fund's Prospectus and Statement of Additional Information, both dated** **February 28,** **2023, and the independent registered public accounting firm's report and financial statements in the Fund's annual** **report, dated** **October 31, 2022, are incorporated by reference into this summary prospectus.**

**Fund Tickers**

Class A – AIAFX ■ Institutional Class – AIFRX

**Objective**

The abrdn Global Infrastructure Fund (the "Global Infrastructure Fund" or the "Fund") seeks capital appreciation. Current income is a secondary objective.

**Fees and Expenses of the Fund**

This table describes the fees and expenses that you may pay when you buy, hold and sell shares of the Global Infrastructure Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in abrdn Funds. More information about these and other discounts is available from your financial advisor and in the "Reduction and Waiver of Class A and Class A1 Sales Charges" and "Broker-Defined Sales Charge Waiver Policies" sections on pages 160 and 216 of the Fund's prospectus, respectively, and in the "Additional Information on Purchases and Sales — Waiver of Class A and Class A1 Sales Charges" and "Reduction of Sales Charges" sections on pages 115 and 116 of the Fund's Statement of Additional Information, respectively. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Shareholder Fees (fees paid directly from your investment)** | **Class A** **Shares** | **Institutional** **Class** **Shares** |
| &nbsp;&nbsp; Maximum Sales Charge (Load) imposed upon purchases (as a percentage of offering price) | 5.75<br> %<br>|  |
| &nbsp;&nbsp; Maximum Deferred Sales Charge (Load) (as a percentage of offering or sale price, whichever is less) | 1.00<br> %<br> <sup>(1)</sup><br>|  |
| &nbsp;&nbsp; Small Account Fee<sup>(2)</sup> | $20<br>| $20<br>|

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp; **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp; **Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** |
| &nbsp;&nbsp; Management Fees | 0.85<br> %<br>| 0.85<br> %<br>|
| &nbsp;&nbsp; Distribution and/or Service (12b-1) Fees | 0.25<br> %<br>|  |
| &nbsp;&nbsp; Other Expenses | 0.48<br> %<br>| 0.48<br> %<br>|
| &nbsp;&nbsp; Total Annual Fund Operating Expenses | 1.58<br> %<br>| 1.33<br> %<br>|
| &nbsp;&nbsp; Less: Amount of Fee Limitations/Expense Reimbursements<sup>(3)</sup> | 0.34<br> %<br>| 0.34<br> %<br>|
| &nbsp;&nbsp; Total Annual Fund Operating Expenses After Fee Limitations/Expense Reimbursements | 1.24<br> %<br>| 0.99<br> %<br>|

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(1) Unless you are otherwise eligible to purchase Class A shares without a sales charge, a contingent deferred sales charge (CDSC) of up to 1.00% will be charged on Class A shares redeemed within 18 months of purchase if you paid no sales charge on the original purchase and a finder's fee was paid.

(2) Accounts with balances below $1,000 are generally subject to a $5 quarterly fee (with an annual maximum of $20 per account). Shares from such accounts are redeemed each quarter to cover the fee, which is returned to the Fund to offset small account expenses.

(3) abrdn Funds (the "Trust") and abrdn Inc. (the "Adviser") have entered into a written contract limiting operating expenses to 1.24% for Class A shares and 0.99% for Institutional Class shares. This contractual limitation may not be terminated without the approval of the Independent Trustees before February 29, 2024. This limit includes Rule 12b-1 Fees, but excludes certain expenses, including any interest, brokerage commissions, Acquired Fund Fees and Expenses, and extraordinary expenses. The Trust is authorized to reimburse the Adviser for management fees previously limited and/or for expenses previously paid by the Adviser, provided, however, that any reimbursements must be paid at a date not more than three years after the date when the Adviser limited the fees or reimbursed the expenses and the reimbursements do not cause a Class to exceed the lesser of the applicable expense limitation in the contract at the time the fees were limited or expenses are paid or the applicable expense limitation in effect at the time the expenses are being recouped by the Adviser.

Fund Summary - abrdn Global Infrastructure Fund 1

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Fund Summary - abrdn Global Infrastructure Fund

**Example**

This Example is intended to help you compare the cost of investing in the Global Infrastructure Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those periods. It assumes a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| &nbsp;&nbsp; Class A Shares | $694 | $1014 | $1356 | $2318 |
| &nbsp;&nbsp; Institutional Class Shares | $101 | $388 | $696 | $1572 |

---

**Portfolio Turnover**

The Global Infrastructure Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 23.33% of the average value of its portfolio.

**Principal Strategies**

As a non-fundamental policy, under normal circumstances, the Infrastructure Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of U.S. and non-U.S. infrastructure related issuers. An "infrastructure-related" issuer has (i) at least 50% of its assets consisting of infrastructure assets or (ii) 50% of its gross income or net profits attributable to or derived, directly or indirectly, from the ownership, management, construction, development, operation, utilization or financing of infrastructure assets. Infrastructure assets are the physical structures and networks that provide necessary services to society. Examples of infrastructure assets include, but are not limited to, transportation assets (e.g., toll roads, bridges, tunnels, parking facilities, railroads, rapid transit links, airports, refueling facilities and seaports), utility assets (e.g., electric transmission and distribution lines, power generation facilities, gas and water distribution facilities, sewage treatment plants, broadcast and wireless towers, and cable and satellite networks) and social assets (e.g., courthouses, hospitals, schools, correctional facilities, stadiums and subsidized housing). The Fund concentrates its investments in infrastructure-related issuers. Infrastructure-related issuers fall into multiple market sectors. The Fund currently anticipates that it will be heavily exposed to the industrials and utilities sectors.

The Fund may invest without limitation in the securities of foreign issuers that are publicly traded in the United States or on foreign exchanges, including securities of emerging market issuers, and in depositary receipts (such as American Depositary Receipts ("ADRs")) that represent indirect interests in securities of foreign issuers. The Fund is permitted to invest in unlisted foreign securities, but currently does not intend to do so as a principal strategy.

The Fund may invest in companies of any market capitalization.

Under normal market conditions, the Fund maintains no less than 40% of its net assets (plus the amount of any borrowings for investment purposes) in the securities of issuers located outside of the United States and will allocate its assets among issuers located in no fewer than three different countries, one of which may be the United States. The Fund considers an issuer to be located in a country if it meets any of the following criteria: (i) the issuer is organized under the laws of the country or maintains its principal place of business in that country; (ii) the issuer's securities are traded principally in the country; or (iii) during the issuer's most recent fiscal year, such issuer derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in the country or has at least 50% of its assets in that country.

In seeking to achieve the Fund's investment objective, the Adviser and Sub-adviser invest in quality companies and are an active, engaged owners. The Adviser and Sub-adviser evaluate every company against quality criteria and build conviction using a team-based approach and peer review process. The quality assessment covers five key factors: 1) the durability of the business model, 2) the attractiveness of the industry, 3) the strength of financials, 4) the capability of management, and 5) the most material environmental, social and governance ("ESG") factors impacting a company. The Adviser and Sub-adviser seek to understand what is changing in companies, industries and markets but is not being priced into the market or is being mispriced. Through fundamental research, supported by a global research presence, the Adviser and Sub-adviser seek to identify companies whose quality is not yet fully recognized by the market.

**Principal Risks**

The Global Infrastructure Fund cannot guarantee that it will achieve its investment objective.

As with any fund, the value of the Fund's investments – and therefore, the value of Fund shares – may fluctuate. The following is a list of the principal risks of investing in the Fund (in alphabetical order after the first eight risks).

2 Fund Summary - abrdn Global Infrastructure Fund

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Fund Summary - abrdn Global Infrastructure Fund

**Market Risk –** Deteriorating market conditions might cause a general weakness in the market that reduces the prices, or yield, of securities in those markets in which the Fund invests.

**Issuer Risk –** The value of a security may decline for reasons directly related to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods or services.

**Equity Securities Risk –** The stock or other security of a company may not perform as well as expected, and may decrease in value, because of factors related to the company (such as poorer than expected earnings or certain management decisions), to the industry in which the company is engaged (such as a reduction in the demand for products or services in a particular industry), or to the market as a whole (such as periods of market volatility or instability, or general and prolonged periods of economic decline).

**Management Risk** – The Fund is subject to the risk that the Adviser or Sub-adviser may make poor security selections. The Adviser or Sub-adviser and their portfolio managers apply their own investment techniques and risk analyses in making investment decisions for the Fund and there can be no guarantee that these decisions will achieve the desired results for the Fund. In addition, the Adviser or the Sub-adviser may select securities that underperform the relevant market or other funds with similar investment objectives and strategies.

**Infrastructure-Related Investments Risk** – Because the Fund concentrates its investments in infrastructure-related entities, the Fund has greater exposure to the potential adverse economic, regulatory, political and other changes affecting such entities. Infrastructure related entities are subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, costs associated with environmental and other regulations, the effects of economic slowdown and surplus capacity, increased competition from other providers of services, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors. Additionally, infrastructure-related entities may be subject to regulation by various governmental authorities and may also be affected by governmental regulation of rates charged to customers, service interruption due to environmental, operational or other mishaps, the imposition of special tariffs and changes in tax laws, regulatory policies and accounting standards.

**Foreign Securities Risk –** Foreign countries in which the Fund may invest may have markets that are less liquid, less regulated and more volatile than U.S. markets. The value of the Fund's investments may decline because of factors such as unfavorable or unsuccessful government actions, reduction of government or central bank support and political or financial instability. To the extent the Fund focuses its investments in a single country or only a few countries in a particular geographic region, economic, political, regulatory or other conditions affecting such country or region may have a greater impact on Fund performance relative to a more geographically diversified fund.

**Foreign Currency Exposure Risk –** The value of foreign currencies relative to the U.S. Dollar fluctuates in response to market, economic, political, regulatory, geopolitical or other conditions. A decline in the value of a foreign currency versus the U.S. Dollar reduces the value in U.S. Dollars of investments denominated in that foreign currency. This risk may impact the Fund more greatly to the extent the Fund does not hedge its currency risk, or hedging techniques used by the Adviser are unsuccessful.

**Emerging Markets Risk** – A magnification of the risks that apply to foreign investments. These risks are greater for securities of companies in emerging market countries because the countries may have less stable governments, more volatile currencies and less established markets (see "Foreign Securities Risk" above).

**Concentration Risk** – The Fund's strategy of concentrating in companies in a specific industry or sector, or closely related group of industries or sectors, means that its performance will be closely tied to the performance of a particular market segment. The Fund's concentration in these companies may present more risks than if it were broadly diversified over numerous industries and sectors of the economy. A downturn in these companies would have a larger impact on the Fund than on a mutual fund that does not concentrate in such companies. At times, the performance of these companies will lag the performance of other industries or the broader market as a whole.

**Cybersecurity Risk –** Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, customer data (including private shareholder information), or proprietary information, or cause the Fund, the Adviser and/or its service providers (including, but not limited to, Fund accountants, custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or lose operational functionality.

**Impact of Large Redemptions and Purchases of Fund Shares –** Occasionally, shareholders may make large redemptions or purchases of Fund shares, which may cause the Fund to have to sell securities or invest additional cash. These transactions may adversely affect the Fund's performance and increase transaction costs. In addition, large redemption requests may exceed the cash balance of the Fund and result in credit line borrowing fees and/or overdraft charges to the Fund until the sales of portfolio securities necessary to cover the redemption request settle.

**Mid-Cap Securities Risk –** Securities of medium-sized companies tend to be more volatile and less liquid than securities of larger companies.

Fund Summary - abrdn Global Infrastructure Fund 3

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Fund Summary - abrdn Global Infrastructure Fund

**REIT and Real Estate Risk –** Investment in REITs and real estate involves the risks that are associated with direct ownership of real estate and with the real estate industry in general. These risks include: declines in the value of real estate; risks related to local economic conditions, overbuilding and increased competition; increases in property taxes and operating expenses; changes in zoning laws; casualty or condemnation losses; variations in rental income, neighborhood values or the appeal of properties to tenants; changes in interest rates and changes in general economic and market conditions. REITs' share prices may decline because of adverse developments affecting the real estate industry including changes in interest rates. The returns from REITs may trail returns from the overall market. Additionally, there is always a risk that a given REIT will fail to qualify for favorable tax treatment. REITs may be leveraged, which increases risk. REITs may also be non-traditional, such as those that focus on towers, which could subject the Fund to additional risk based on the REIT's area of focus. Certain REITs charge management fees, which may result in layering the management fee paid by the fund.

**Sector Risk –** To the extent that the Fund has a significant portion of its assets invested in securities of companies conducting business in a broadly related group of industries within an economic sector, the Fund may be more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

*Industrials Sector Risk*. The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand related to their specific products or services and industrials sector products in general. The products of manufacturing companies may face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events, economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the industrials sector may be adversely affected by liability for environmental damage and product liability claims. The industrials sector may also be adversely affected by changes or trends in commodity prices, which may be influenced by unpredictable factors. Companies in the industrials sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies involved in this sector rely to a significant extent on government demand for their products and services. For more information about the risks of other infrastructure-related sectors, see also "Concentration Risk" and "Infrastructure-Related Investments Risk" above.

*Utilities Sector Risk*. To the extent that the utilities sector represents a significant portion of the Fund's portfolio, the Fund will be sensitive to changes in, and its performance may depend to a greater extent on, factors impacting this sector. Performance of companies in the utilities sector may be adversely impacted by many factors, including, among others, general economic conditions, supply and demand, financing and operating costs, rate caps, interest rates, liabilities arising from governmental or civil actions, consumer confidence and spending, competition, resource conservation and depletion, man-made or natural disasters, geopolitical events, and environmental, and other government regulations.

**Small-Cap Securities Risk –** Securities of smaller companies are usually less stable in price and less liquid than those of larger, more established companies. Therefore, they generally involve greater risk.

**Valuation Risk** – The price that the Fund could receive upon the sale of any particular portfolio investment may differ from the Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation methodology or a price provided by an independent pricing service. As a result, the price received upon the sale of an investment may be less than the value ascribed by the Fund, and the Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. The Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers. If the value of the Fund's investments decreases, you may lose money.

For additional information regarding the above identified risks, see "Fund Details: Additional Information about Investments, Investment Techniques and Risks" in the prospectus.

**Performance**

The bar chart and table below can help you evaluate potential risks of the Global Infrastructure Fund. The bar chart shows how the Fund's annual total returns for Institutional Class shares have varied from year to year. The Class A shares of the Fund were not issued prior to December 30, 2011. The returns in the bar chart do not reflect the impact of sales charges, if any. If the applicable sales charges were included, the annual total returns would be lower than those shown.

The table following the bar chart compares the Fund's performance over time with those of a broad measure of market performance, as well as indices that reflect the market sectors in which the Fund invests. The table compares the Fund's average annual total returns to the returns of the MSCI All Country World Index (Net Daily Total Return), a broad-based securities index, and the S&P Global Infrastructure Index (Net Total Return). The Fund's past performance benefitted significantly from IPOs and secondary offerings of certain issuers and there is no guarantee that these results can be replicated in future periods or that the Fund will be able to participate to the same degree in IPOs and secondary offerings in the future. Remember, however, that past performance (before and after taxes) is not necessarily indicative of how the Fund will perform in the future. For updated performance information, please visit https://www.abrdn.com/en-us/us/investor/fund-centre#literature or call 866-667-9231.

4 Fund Summary - abrdn Global Infrastructure Fund

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Fund Summary - abrdn Global Infrastructure Fund

The returns presented for the Fund for periods prior to May 7, 2018 reflect the performance of a predecessor fund (the "Predecessor Fund"), which was a registered investment company. The Fund adopted the performance of the Predecessor Fund as the result of a reorganization that occurred as of the close of business on May 4, 2018, in which the Fund acquired all of the assets, subject to the liabilities, of the Predecessor Fund. The Fund and the Predecessor Fund have substantially similar investment objectives and strategies.

Returns of the Predecessor Fund have not been adjusted to reflect the expenses applicable to the respective classes of the Fund.

abrdn Inc. and abrdn Investments Limited ("AIL") (formerly known as Aberdeen Asset Managers Limited) began advising and sub-advising, respectively, the Fund immediately following the closing of the reorganization. Performance prior to this date reflects the performance of an unaffiliated investment adviser.

**Annual Total Returns – Institutional Class Shares**<br>**(Years Ended Dec. 31)**

<br>![](sp203img002.jpg)

Highest Return: 17.31% - 2nd quarter 2020

Lowest Return: -25.55% - 1st quarter 2020

After-tax returns are shown in the following table for Institutional Class shares only and will vary for other classes. After–tax returns are calculated using the historical highest individual federal marginal income tax rates in effect and do not reflect the impact of state and local taxes. Your actual after-tax return depends on your personal tax situation and may differ from what is shown here. After-tax returns are not relevant to investors in tax-deferred arrangements, such as individual retirement accounts, 401(k) plans or certain other employer-sponsored retirement plans.

**Average Annual Total Returns as of December 31, 2022**

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| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Years** | **10 Years** |
| &nbsp;&nbsp; Class A shares – Before Taxes | -13.47<br> %<br>| 3.04<br> %<br>| 6.07<br> %<br>|
| &nbsp;&nbsp; Institutional Class shares – Before Taxes | -7.97<br> %<br>| 4.52<br> %<br>| 6.97<br> %<br>|
| &nbsp;&nbsp; Institutional Class shares – After Taxes on Distributions | -9.43<br> %<br>| 2.89<br> %<br>| 5.36<br> %<br>|
| &nbsp;&nbsp; Institutional Class shares – After Taxes on Distributions and Sales of Shares | -4.43<br> %<br>| 2.84<br> %<br>| 4.91<br> %<br>|
| &nbsp;&nbsp; MSCI All Country World Index (Net Daily Total Return) (reflects no deduction for fees or expenses) | -18.36<br> %<br>| 5.23<br> %<br>| 7.98<br> %<br>|
| &nbsp;&nbsp; S&P Global Infrastructure Index (Net Total Return) (reflects no deduction for fees or expenses) | -0.99<br> %<br>| 2.99<br> %<br>| 5.61<br> %<br>|

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Fund Summary - abrdn Global Infrastructure Fund 5

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Fund Summary - abrdn Global Infrastructure Fund

**Investment Adviser**

abrdn Inc. (the "Adviser") serves as the Global Infrastructure Fund's investment adviser and abrdn Investments Limited serves as the Fund's sub-adviser.

**Portfolio Managers**

The Fund is managed using a team-based approach, with the following team members being jointly and primarily responsible for the day-to-day management of the Fund:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Name** | **Title** | **Served on the Fund Since** |
| &nbsp;&nbsp; Josh Duitz | Deputy Head of Global Equities | 2008<br><sup>\*</sup><br>|
| &nbsp;&nbsp; Donal Reynolds, CFA<sup>®</sup> | Investment Director | 2022<br>|

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\* Includes service with unaffiliated investment adviser to Predecessor Fund

**Purchase and Sale of Fund Shares**

The Fund's minimum investment requirements are as follows:

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| | |
|:---|:---|
| **CLASS A SHARES** | **CLASS A SHARES** |
| &nbsp;&nbsp; To open an account | $1000 |
| &nbsp;&nbsp; To open an IRA account | $1000 |
| &nbsp;&nbsp; Additional investments | $50 |
| &nbsp;&nbsp; To start an Automatic Investment Plan | $1000 |
| &nbsp;&nbsp; Additional Investments (Automatic Investment Plan) | $50 |
| **INSTITUTIONAL CLASS SHARES** | **INSTITUTIONAL CLASS SHARES** |
| &nbsp;&nbsp; To open an account | $1000000 |
| &nbsp;&nbsp; Additional investments | No Minimum |

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The Fund reserves the right to apply or waive investment minimums under certain circumstances as described in the prospectus under the "Choosing a Share Class" section.

Fund shares may be redeemed on each day that the New York Stock Exchange is open. Fund shares may be sold by mail or fax, by telephone or on-line.

**Tax Information**

The Fund's dividends and distributions are subject to federal income taxes and will be taxed as ordinary income or capital gains, unless you are a tax-exempt investor or invest through a qualified employee benefit plan, retirement plan or other tax-deferred account, in which case your withdrawals from such account may be taxed as ordinary income.

**Payments to Broker-Dealers and Other Financial Intermediaries**

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other financial intermediary and your financial advisor to recommend the Fund over another investment. Ask your financial advisor or visit your financial intermediary's website for more information.

6 Fund Summary - abrdn Global Infrastructure Fund