Risk warning

Important information

The following information is very important. You should read this information if you are unclear at any time as to the purposes of this site and who is responsible for its maintenance.

The site contains information only relevant to UK investors and financial advisers. This is designed to inform and protect you. There are certain legal and regulatory limitations that apply to the information contained on this web site and by proceeding you are deemed to have read and understood this warning.

The information in this section is intended for persons who are United Kingdom residents for tax and investment purposes or those who advise such persons. In particular the information is not for distribution and under no circumstances is to be considered as an offer or solicitation to deal in investments in any jurisdiction in which such offer, solicitation or distribution would be unlawful, including, but not limited to, the United States of America.

Investment in any of the products described should only be made on the basis of the applicable offer document (eg Scheme Particulars, Prospectus or other Terms and Conditions). Nothing in the Aberdeen web site constitutes investment legal tax or other advice nor is it to be relied upon in making an investment decision.

The information is not to be reproduced, copied or made available to others. Any research or analysis used in the preparation of this web site has been procured by Aberdeen Asset Management PLC and its subsidiary companies ('The Company') for its own use and it may have been acted on by the Company for its own purposes.

It is believed that the information is accurate at the date of publication and no warranty is given. It may be changed without prior notice.

Any tax reliefs mentioned are those currently available and are subject to change. Their value depends on the personal circumstances of the investor. Information relating to investment trust savings schemes, investment trust ISAs is approved by Aberdeen Asset Managers Limited, authorised and regulated by the Financial Conduct Authority in the United Kingdom.

Risk factors you should consider prior to investing:

  • The Trust is a split capital investment trust. Split capital investment trusts have more than one class of share. Typically, the capital structure will comprise of ordinary shares offering a high level of income, and Zero Dividend Preference (ZDP) shares offering a pre-determined capital payment at a later date, provided there is sufficient capital available. The ZDP shares act as gearing. Some trusts will also have gearing in the form of a bank loan. ZDP shareholders should note that if a trust does not have sufficient assets, after the repayment of its bank loan, to cover the full cost of the ZDP repayments, they will not receive the full amount of the pre-determined return. Ordinary shareholders should note that after the repayment of the bank loan and the redemption of the ZDP shares, the value of assets attributed to ordinary shareholders may be less than their original investment. Depending on the performance of the trust, there is, in any case, a risk that ZDP shareholders will receive less than their original investment and that the level of assets attributed to ordinary shareholders could be less than their original investment and in certain cases, could be zero
  • Movements in exchange rates can impact on both the level of income received and the capital value of your investment. If the currency of your country of residence strengthens against the currency in which the underlying investments of the Trust are made, the value of your investment will reduce and vice versa
  • The value of shares and the income from them can go down as well as up and you may get back less than the amount invested
  • Past performance is not a guide to the future
  • Exposure to a single country market increases potential volatility
  • There is no guarantee that the market price of shares in the Trust will fully reflect their underlying Net Asset Value
  • As with all stock exchange investments the value of investment trust shares purchases will immediately fall by the difference between the buying and selling prices, the bid-offer spread

Other important information:

Issued by Aberdeen Asset Managers Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom.

Registered Office: 10 Queen's Terrace, Aberdeen AB10 1YG. Registered in Scotland No. 108419. A member of the Aberdeen Asset Management group of companies. An investment trust should be considered only as part of a balanced portfolio. Under no circumstances should this information be considered as an offer or solicitation to deal in investments.