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Aberdonian windbaggery

[10 July 2013] Aberdeen Unit Trust Managers Limited must employ some of the most flatulent authors around, if their latest six-monthly statement to investors is anything to go by. Here are some of their offerings, with our translation below:

We are currently in the process of updating our documentation... and anticipate this exercise being completed in the coming months.

We are updating our documents and expect to complete this is in a few months.

This change requires no action from you.

You need do nothing.

Following revisions to UK fund regulations, initiated by the Financial Services Authority, Aberdeen Funds has adopted a ‘protected cell regime’ which means that the liabilities of one fund are now segregated, so the debts of one fund cannot therefore be passed to another fund. This has the benefit of providing stronger investor protection.

Changes in UK fund regulations have led us to segregate the liabilities of each of our funds. This protects investors better because it means we cannot transfer one fund’s debts to another.

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