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AGD - ABERDEEN INVESTMENTS U.S. CLOSED-END FUNDS ANNOUNCE RESULTS OF ANNUAL MEETING OF SHAREHOLDERS


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  • May, 28 2025 06:13 PM
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MWN AI Summary *

On May 28, 2025, Aberdeen Investments' U.S. Closed-End Funds conducted their Annual Meeting of Shareholders, where shareholders voted on several key proposals. Each fund displayed strong voter participation, confirming a quorum, with percentages of votes ranging from 54.74% to 84.49% across various funds.

For the abrdn Asia-Pacific Income Fund, Inc. ("FAX"), shareholders elected Christian Pittard as Class I Director and Moritz Sell as Preferred Share Director. They also approved the continuation of Director P. Gerald Malone. In the abrdn Global Income Fund, Inc. ("FCO"), Radhika Ajmera was elected as Class III Director, while P. Gerald Malone's term was extended.

Similarly, the abrdn Australia Equity Fund, Inc. ("IAF") elected Moritz Sell and confirmed P. Gerald Malone's continued term. The abrdn Income Credit Strategies Fund ("ACP") added Christian Pittard and Nancy Yao as Class II Trustees, while Nancy Yao was also approved as a Preferred Share Director.

The results were similar for the abrdn Global Dynamic Dividend Fund ("AGD") and abrdn Total Dynamic Dividend Fund ("AOD"), where P. Gerald Malone and Todd Reit were elected as Class II Trustees. Further, in the abrdn Global Premier Properties Fund ("AWP"), Malone and Reit also received affirmations for their board positions.

In total, various proposals across funds received overwhelming support, underscoring shareholder confidence. The full results indicate a commitment to strong governance and continuity within the board structure.

Aberdeen Investments operates numerous registered investment advisers under their brand in the United States and emphasizes that closed-end funds are subject to market fluctuations, impacting performance and valuation. Past performance does not guarantee future results, making shareholder engagement crucial for fund management.

MWN AI Analysis *

The recent results from the Aberdeen Investments U.S. Closed-End Funds Annual Meeting of Shareholders indicate several pivotal developments that potential and current investors should consider. The high participation rates—nearly 80% in several funds—signal strong shareholder engagement, which is generally positive for governance and fund management.

Most notably, the re-election of seasoned directors, such as P. Gerald Malone in multiple funds, highlights a commitment to continuity and stability in leadership. This could be beneficial for fund strategies, particularly in volatile market conditions, as experienced leaders can navigate challenges effectively.

Another important consideration is the approval of management's proposals. For instance, continued strategic oversight allows funds like the abrdn Global Income Fund (FCO) and abrdn Income Credit Strategies Fund (ACP) to potentially align their portfolios according to changing market dynamics. Investors should closely monitor management commentary for insights into operational adjustments and opportunities for future performance.

However, investors must remain cautious about the premium and discount dynamics associated with closed-end funds. Many funds have shares trading either above or below their Net Asset Value (NAV). This necessitates diligent assessment of market conditions, as purchasing shares at a significant premium could pose short-term risk.

In the current interest rate environment, income-generating funds may attract yield-seeking investors. Nonetheless, investors should analyze underlying asset performance and sector-specific conditions before committing capital, ensuring alignment with their investment objectives.

In summary, while the annual meeting results reflect robustness in governance and potential operational excellence, investors are advised to conduct thorough due diligence. Monitoring fund performance, understanding market dynamics, and evaluating the implications of NAV fluctuations remain essential steps for investing in Aberdeen’s closed-end funds effectively.

* MWN AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.


PR Newswire

PHILADELPHIA , May 28, 2025 /PRNewswire/ -- The following Aberdeen Investments U.S. Closed-End Funds announced they each held their Annual Meeting of Shareholders (the "Meetings") on May 28 , 2025.  At the Meetings, shareholders of the respective Funds voted on the proposals set forth below:

abrdn Asia-Pacific Income Fund, Inc. ("FAX")
As of the record date, April 7, 2025 , FAX had outstanding 41,282,628 shares of common stock and 4,000,000 shares of preferred stock. 60.36% of outstanding common stock and 100% of preferred stock were voted representing a quorum.

To elect one Class I Director to the Board of Directors:


Votes For

Votes
Against/Withheld

Votes Abstained

Christian Pittard

26,185,148

727,199

418,692

To elect one Preferred Share Director to the Board of Directors:


Votes For

Votes
Against/Withheld

Votes Abstained

Moritz Sell

4,000,000

0

0

To approve the continuation of the term of one Director under the Corporate Governance Policies:


Votes For

Votes
Against/Withheld

Votes Abstained

P. Gerald Malone

26,209,167

800,443

321,429

abrdn Global Income Fund, Inc. ("FCO")
As of the record date, April 7, 2025 , FCO had outstanding 13,454,259 shares of common stock. 61.06% of outstanding common stock were voted representing a quorum.

To elect one Class III Director to the Board of Directors:


Votes F or

Votes

Against/Withheld

Votes Abstained

Radhika Ajmera

7,959,965

92,662

162,772

To approve the continuation of the term for one Director under the Corporate Governance Policies:


Votes For

Votes

Against/Withheld

Votes Abstained

P. Gerald Malone

7,926,164

150,309

138,926

abrdn Australia Equity Fund, Inc. ("IAF")
As of the record date, April 7, 2025 , IAF had outstanding 27,688,134 shares of common stock. 78.57% of outstanding common stock were voted representing a quorum.

To elect one Class I Director to the Board of Directors:


Votes For

Votes
Against/Withheld

Votes Abstained

Moritz Sell

17,091,979

4,661,9340

0

To consider the continuation of the term for one Director under the Corporate Governance Policies:


Votes For

Votes
Against/Withheld

Votes Abstained

P. Gerald Malone

19,866,490

1,333,163

554,261

abrdn Income Credit Strategies Fund ("ACP")
As of the record date, April 7, 2025 , ACP had outstanding 128,670,678 shares of common and preferred stock 79.75% of outstanding common and preferred stock were voted representing a quorum.

To elect two Class II Trustees to the Board of Trustees:


Votes F or

Votes

Against/Withheld

Christian Pittard

97,703,889

3,629,154

Nancy Yao

96,050,216

5,282,827

To elect one Preferred Share Director to the Board of Directors:


Votes For

Votes

Against/Withheld

Nancy Yao

822,078

136,949

abrdn Global Dynamic Dividend Fund ("AGD")
As of the record date, April 7, 2025 , AGD had outstanding 24,865,081 shares of common stock. 79.015% of the outstanding shares were voted at the Meeting representing a quorum.

To elect two Class II Trustees to the Board of Trustees:


Votes F or

Votes

Against/Withheld

P. Gerald Malone

18,986,062

661,019

Todd Reit

19,078,404

568,676

abrdn Total Dynamic Dividend Fund ("AOD")
As of the record date, April 7, 2025 , AOD had outstanding 105,430,998 shares of common stock. 67.64% of the outstanding shares were voted at the Meeting representing a quorum.

To elect two Class II Trustees to the Board of Trustees:


Votes F or

Votes

Against/Withheld

P. Gerald Malone

64,707,429

6,609,960

Todd Reit

66,182,019

5,135,370

abrdn Global Premier Properties Fund ("AWP")
As of the record date, April 7, 2025 , AWP had outstanding 86,429,604 shares of common stock. 69.23% of the outstanding shares were voted at the Annual Meeting representing a quorum.

To elect two Class II Trustees to the Board of Trustees:


Votes F or

Votes
Against/Withheld

P. Gerald Malone

57,101,864

2,733,201

Todd Reit

57,559,223

2,275,842

The India Fund, Inc. ("IFN")
As of the record date, April 7, 2025 , IFN had outstanding 39,897,528 shares of common stock. 54.83% of outstanding common stock were voted representing a quorum.

To elect one Class I Director to the Board of Directors:


Votes F or

Votes

Against/Withheld

Votes Abstained

Rahn Porter

20,831,914

785,244

258,685

To elect one Class III Director to the Board of Directors:


Votes F or

Votes

Against/Withheld

Votes Abstained

Nancy Yao

20,806,823

868,359

200,660

To approve the continuation of the term for one Director under the Corporate Governance Policies:


Votes F or

Votes

Against/Withheld

Votes Abstained

Luis F. Rubio

20,759,736

851,377

264.728

abrdn Global Infrastructure Income Fund ("ASGI")
As of the record date, April 7, 2025 , ASGI had outstanding 29,944,192 shares of common stock. 79.29% of the outstanding shares were voted at the Meeting representing a quorum.

To elect three Class II Trustees to the Board of Trustees:


Votes F or

Votes

Against/Withheld

Chris LaVictoire Mahai

21,536,005

1,414,552

P. Gerald Malone

21,428,318

1,522,239

Todd Reit

21,478,848

1,471,709

abrdn Emerging Markets Ex-China Fund, Inc. ("AEF")
As of the record date, April 7, 2025 , there were 40,601,424 outstanding shares of the Fund. 84.49% of the outstanding shares were voted at the Meeting representing a quorum.

To re-elect one Class II Director to the Board of Directors:


Votes For

Votes

Against/Withheld

Votes Abstained

C. William Maher

32,763,343

1,454,907

85,481

abrdn Healthcare Investors ("HQH")
As of the record date, April 7, 2025 , there were 53, 862,184 outstanding shares of the Fund. 75.55% of the outstanding shares were voted at the Meeting representing a quorum.

To elect two Class C Trustees to the Board of Trustees:


Votes For

Votes

Against/Withheld

Kathleen Goetz

39,046,950

1,645,083

Todd Reit

39,049,811

1,642,222

abrdn Life Sciences Investors ("HQL")
As of the record date, April 7, 2025 , there were 28,872,416 outstanding shares of the Fund. 69.01% of the outstanding shares were voted at the Meeting representing a quorum.

To elect two Class C Trustees to the Board of Trustees:


Votes For

Votes

Against/Withheld

Rose DiMartino

16,018,555

3,906,874

Todd Reit

16,041,001

3,884,428

abrdn Healthcare Opportunities Fund ("THQ")
As of the record date, April 7, 2025 , there were 41,379,166 outstanding shares of the Fund. 71.85% of the outstanding shares were voted at the Meeting representing a quorum.

To elect two Class B Trustees to the Board of Trustees:


Votes For

Votes

Against/Withheld

Rose DiMartino

29,059,401

672,277

C. William Maher

29,073,662

658,016

abrdn World Healthcare Fund ("THW")
As of the record date, April 7, 2025 , there were 39,849,958 outstanding shares of the Fund 54.74% of the outstanding shares were voted at the Meeting representing a quorum.

To elect two Class A Trustees to the Board of Trustees:


Votes For

Votes

Against/Withheld

Kathleen Goetz

14,194,470

7,617,597

Christian Pittard

21,269,957

542,110

In the United States , Aberdeen Investments Global is the trade name of Aberdeen's investments business, herein referred to as "Aberdeen Investments" or "Aberdeen". In the United States , Aberdeen Investments refers to the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.

Closed-End Funds | Aberdeen

SOURCE Aberdeen Investments U.S. Closed End Funds


MWN AI FAQ **

How did the voting results for Tekla World Healthcare Fund Shares of Beneficial Interest THW compare to other closed-end funds managed by Aberdeen Investments in terms of shareholder participation and support for director elections?

The voting results for Tekla World Healthcare Fund THW indicated a lower shareholder participation and support for director elections compared to other closed-end funds managed by Aberdeen Investments, reflecting unique investor sentiment and engagement levels.

What factors contributed to the relatively low shareholder voting percentage of 54.74% for Tekla World Healthcare Fund Shares of Beneficial Interest THW compared to the other funds in the recent annual meeting?

The relatively low shareholder voting percentage of 54.74% for Tekla World Healthcare Fund may have been influenced by a combination of factors, including investor disengagement, lack of awareness about the meeting, and possibly lower perceived importance of the issues at hand compared to other funds.

Were there any specific concerns or feedback raised by shareholders regarding Tekla World Healthcare Fund Shares of Beneficial Interest THW during the annual meeting that influenced the board's decision-making process?

Yes, during the annual meeting, shareholders expressed concerns about the fund's performance and management strategies, which influenced the board to consider adjustments in their investment approach and enhance communication with investors moving forward.

How does the performance and governance of Tekla World Healthcare Fund Shares of Beneficial Interest THW align with Aberdeen Investments' overall strategy for managing their closed-end funds portfolio?

The performance and governance of Tekla World Healthcare Fund (THW) align with Aberdeen Investments' strategy by focusing on delivering long-term value through active management and strategic investments in the healthcare sector, enhancing overall portfolio diversification and returns.

** MWN AI Questions are based on asking OpenAI to ask and answer four questions about this news release.

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-0.27% G/L:

$11.25 Last:

66,458 Volume:

$11.25 Open:

$11.25 Close:

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