DEF: Abrdn Funds to Hold Annual Shareholder Meetings to Elect Trustees

Abrdn Global Dynamic Dividend Fund, Abrdn Total Dynamic Dividend Fund, and Abrdn Global Premier Properties Fund will hold annual meetings on May 28, 2025, to elect two Class II Trustees for each fund.

Summary

• Abrdn Global Dynamic Dividend Fund (AGD), Abrdn Total Dynamic Dividend Fund (AOD), and Abrdn Global Premier Properties Fund (AWP) will hold their annual shareholder meetings on May 28, 2025, at 9:00 a.m. Eastern Time.
• The meetings will take place at the offices of abrdn Inc. in Philadelphia.
• The primary purpose of the meetings is to elect two Class II Trustees for each fund to serve until the 2028 Annual Meeting.
• Shareholders of record as of April 7, 2025, are entitled to vote.
• The Board of Trustees recommends voting 'FOR' each nominee.
• The proxy materials are being mailed to shareholders starting on or about April 14, 2025.
• Shareholders can vote by mail, telephone, or internet.
• A quorum requires the presence of a majority of the outstanding shares of the respective Fund on the record date.
• As of the record date, AGD had 24,865,080.973 shares outstanding, AOD had 105,430,998.798 shares outstanding, and AWP had 86,429,604.368 shares outstanding.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The Board recommends voting for the nominees, indicating a positive outlook on their qualifications. The document provides transparency and clear information, contributing to a moderately positive sentiment.

Positives

• The document provides clear instructions for shareholders on how to vote.
• The Board of Trustees is actively engaged in recommending nominees for the benefit of the funds.
• The document includes information about the qualifications and experience of the nominees.
• The document provides transparency regarding the fees paid to the independent registered public accounting firm, KPMG LLP.

Future Outlook

The document outlines the process for electing trustees who will serve until the 2028 Annual Meeting, ensuring continuity in the governance of the funds.

Management Comments

• Each Board believes that each Trustee's experience, qualifications, attributes and skills on an individual basis and in combination with those of the other Trustees lead to the conclusion that the Trustees possess the requisite experience, qualifications, attributes and skills to serve on their respective Board.
• Each Board believes that the Trustees' ability to review critically, evaluate, question and discuss information provided to them; to interact effectively with the Investment Adviser, other service providers, counsel and independent auditors; and to exercise effective business judgment in the performance of their duties, support this conclusion.

Industry Context

Proxy statements are standard documents for publicly traded investment funds, providing shareholders with the information necessary to make informed decisions about the election of trustees and other corporate governance matters. The election of trustees is a routine but important part of corporate governance for investment funds.

Comparison to Industry Standards

• The structure of the Board of Trustees, with a majority of independent trustees and an independent chair, aligns with industry best practices for fund governance.
• The establishment of Audit and Nominating Committees, composed entirely of independent trustees, is a common practice among registered investment companies to ensure effective oversight and compliance.
• The disclosure of fees paid to the independent auditor, including audit and non-audit fees, is a standard requirement to provide transparency to shareholders.
• The process for shareholder nominations of trustee candidates is consistent with industry norms and regulatory requirements.

Management Changes

Stakeholder Impact

• The election of Trustees impacts shareholders by ensuring proper governance and oversight of the Funds.
• The Board's recommendations influence shareholder voting decisions.
• The disclosure of fees and potential conflicts of interest affects shareholder confidence.

Next Steps

• Shareholders should review the proxy materials and vote on the proposals.
• The Funds will hold the Annual Meetings on May 28, 2025.
• The elected Trustees will serve until the 2028 Annual Meeting.

Key Dates

Keywords

trustees, annual meeting, proxy statement, shareholders, abrdn, election, funds, AGD, AOD, AWP