Aberdeen Funds launches U.S. High Yield Bond Fund

By Toni Weeks

San Diego, Dec. 15 - Aberdeen Funds announced the launch of the Aberdeen U.S. High Yield Bond Fund, according to an N-1 filing with the Securities and Exchange Commission.

The fund seeks to maximize total return consisting of interest income and capital appreciation. It will invest at least 80% of its net assets, plus any borrowings for investment purposes, in bonds of U.S. issuers that are rated below investment grade at the time of investment. The fund may invest up to 20% of its net assets in debt securities of foreign issuers or denominated in foreign currency, either of which may be from emerging market countries.

Day-to-day management of the fund will be provided by portfolio managers Keith Bachman, Brendan Dillon, Christopher Gagnier, Edward Grant and Neil Moriarty.

Class A shares will carry a maximum sales charge of 4.25% of the offering price. Class C, class R, institutional class and institutional service class shares are not subject to a sales charge. Only class C shares will incur a deferred sales charge, which is 1% of the offering or sale price, whichever is less.

Philadelphia-based Aberdeen Asset Management Inc., the fund's investment adviser, has agreed to limit its operating expenses to 0.8% for all classes during the fund's first year. Consequently, the total annual fund operating expenses will be 1.1% for class A shares, 1.8% for class C shares, 1.35% for class R shares, 0.8% for institutional class shares and 0.85% for institutional service class shares.

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