Title: Key Information Document: GB00BPJMQ360 URL Source: https://www.fundslibrary.co.uk/FundsLibrary.DataRetrieval/Documents.aspx?type=packet_fund_unit_doc_priip_kid&docid=cfcf1bfd-e878-470b-9950-6a9797b7d726&user=oYdIpGx37ubMWTIqUmNZ/ppuscNOga0NrI1llk14dJ0= Published Time: Tue, 04 Nov 2025 18:07:01 GMT Number of Pages: 3 Markdown Content: Key Information Document ("KID") ## Aberforth Geared Value & Income Trust plc ## Zero Dividend Preference shares ## Purpose This document provides you with key information about this investment product. It is not marketing material. It helps you understand the nature of this product and enables you to compare it with other products. Other documents are available to help you understand the product such as the Factsheet and Annual Report & Financial Statements. ## Product Product: Manufacturer (AIFM): Product ISIN: Website: Telephone: Regulator: Document valid as at: Aberforth Geared Value & Income Trust plc - Zero Dividend Preference shares Aberforth Partners LLP (Aberforth) GB00BPJMQ360 www.aberforth.co.uk +44 131 220 0733 Financial Conduct Authority 31/10 /202 5 ## What is this product? Type: Objectives: Intended retail investor: Aberforth Geared Value & Income Trust plc (the Company) is an investment trust whose shares are listed on the London Stock Exchange and an Alternative Investment Fund under the Alternative Investment Fund Managers Directive. The Company’s investment objective is to provide Ordinary Shareholders with high total returns, incorporating an attractive level of income, and to provide Zero Dividend Preference (ZDP) Shareholders with a pre-determined final capital entitlement of 160.58 pence per ZDP Share on the planned winding up date of 30 June 2031. The Company’s shares are bought and sold via markets. Typically, at any given time on any given day, the price you pay for a share will be higher than the price at which you could sell it. The Company was launched on 1 July 2024 and has a planned winding up date of 30 June 2031. The Company’s Ordinary shares are geared by the capital entitlement of the ZDP shares. This will magnify any gains or losses made by the assets attributable to the Ordinary shares. The ZDP shares had a gross redemption yield of 7.0% at launch, based on the issue price of 100p. ZDP shareholders do not receive any dividends. This product is suitable for investors planning to hold an investment for the medium to long-term (until the planned winding up date of 30 June 2031 ) and is designed to be used as one component in an investment portfolio – potential investors in the Company’s Zero Dividend Preference shares are advised to consult their professional investment advisers in respect of any investment decision in relation to those shares. ## What are the risks and what could I get in return? 1 2 3 4 5 6 7 > Lower risk Higher risk The risk indicator assumes you hold your investment for 5 years. The actual risk can vary significantly if you sell your investment within a shorter timeframe and you may get back less. You may not be able to sell your investment easily, or may have to sell at a price that significantly impacts on how much you get back. Risk indicator The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets. We have classified this product as level 2 out of 7, which is a low risk class. This classifies the potential volatility from future performance at a low level, and poor market conditions are un likely to impact the capacity for you to receive a positive return on investment. This classification is based on the volatility of the proxy, described below, over 5 years. Investment Performance Information Factors likely to affect future returns: The ZDP shares have a fixed capital entitlement subject to the Company having sufficient capital at the final entitlement date of 30 June 2031 . The factor most likely to determine the outcome of the investment and have an impact on performance is the applic ation of the product’s value investment philosophy, which targets superior long term returns for its clients. This involves the purchase of shares in companies that are selling below their intrinsic value (“value stocks”). Consistent application of investment process does not guarantee superior returns in each and every year, but, there is evidence that it can produce results that meet the investment objective over the long term. What could affect my return positively? The Zero Dividend Preference shares had a gross redemption yield of 7.0% at launch. ZDP shares do not receive any dividends. The Company’s ability to meet the ZDP share entitlement is linked to its Net Asset Value at the wind up date of 30 June 2031 .The market value of ZDP shares may be affected by changes in general interest rates, downward movements may lead to an increase in the market value of these shares. The Company’s portfolio can benefit from consistent application of a value investment style, which enhances investment returns: within the Company's investment universe, Deutsche Numis Smaller Companies Index (excluding Investment Companies) (DNSCI (XIC)), this is supported by historical evidence which indicates that value stocks have out-performed growth stocks since the index’s inception. The value cohort of the index is populated by cyclical companies which may benefit the portfolio valu ation in certain economic conditions. The Company’s investment returns will be determined, over a reasonable time frame, by the underlying progress of its diversified portfolio of investee companies. What could affect my return negatively? The market value of ZDP shares may be affected by changes in general interest rates, upward movements may lead to a reduction in the market value of these shares. The ZDP shares rank in priority to the capital entitlement of ordinary shares. Having sufficient capital at winding up for repayment of ZDP entitlements is linked to underlying performance of the portfolio and may impact the return. In view of the cyclicality of the value cohort of the index, it is likely that concerns about a recession would disproportionately affect the valuations of a portfolio, such as the Company, selected under a value investment philosophy. Concern about recession may lead to a negative return from the portfolio and from the DNSCI (XIC). Adverse market conditions: The Company was launched on 1 July 2024 and has a planned winding up date of 30 June 2031 . This product does not include any protection from future market performance so you could lose some or all of your investment if sold under adverse market conditions. Investments in shares of smaller companies are generally considered to carry a higher degree of risk. The performance of shares of smaller companies may be more volatile than the shares of larger companies over short time periods. ## What happens if Aberforth Geared Value & Incom e Trust plc is unable to pay out? As a shareholder of the Company you would not be able to make a claim to the Financial Services Compensation Scheme about the Company in the event that the Company is unable to pay out. ## What are the costs? Further to the passing of the Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024, the PRIIPS regulation does not apply to shares in a closed-ended investment company that is UK-listed. The FCA is consulting (CP24/20) on a new product information framework for Consumer Composite Investments (CCI), likely to be implemented over 2025 and 2026. There are no entry or exit costs charged by the Investment Manager or Company (although you may be required to pay your own broker and/ or adviser fees). The annualised ongoing fees and charges borne by the Company are not attributed to the Zero Dividend Preference shares, as set out in the Company’s Prospectus published on the website. The rate at launch was 0% and there is no additional charge to the investor. There is no performance fee paid by the Company. Further information on the Company, including its latest financial reporting , is published on the website. Composition of costs The table below shows the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period and what the different cost categories mean. These are zero as there are no additional charges to the invest or. The costs below are borne by the Company. > One -off costs > Entry costs 0.00% The impact of the costs you pay when entering your investment. > Exit costs 0.00% The impact of the costs of exiting your investment. Ongoing costs > Portfolio transaction costs 0.00% The impact of the costs of Aberforth buying and selling underlying investments > in the product’s portfolio. > Other ongoing costs 0.00% > Incidental costs > Performance fee 0.00% There is no performance fee. > Carried interests 0.00% There are no carried interests. ## How long should I hold it and can I take my money out early? > Recommended minimum holding period: 5years The Company has a planned winding up date of 30 June 2031 . Any investment in this product should be viewed as a medium to long -term investment and therefore you should be prepared to stay invested until the planned winding up date. You may sell your investment before the end of the recommended holding period wit hout penalty/charge. ## How can I complain? As a shareholder of the Company, you do not have a right to complain to the Financial Ombudsman Service (FOS) about the management of the Company. Complaints about the Company, or this KID, should be sent to: Address: 14 Melville Street, Edinburgh, EH3 7NS Website: www.aberforth.co.uk/contact -us E-mail: enquiries@aberforth.co.uk We will then handle your request and provide you with a response as soon as possible. ## Other relevant information The Company launched on 1 July 2024. As a result, the data and calculations relating to the risk indicator for this product are based on using the constant daily increment of the assets attributable to the Zero Dividend Preference shares as a proxy or on estimates (drawn from the Company's Prospectus). A detailed list of the risks associated with investing in this product, together with risks relevant to the market in which this Company invests, is available from the Risk Warnings section of the website. Aberforth does not provide investors with investment advice. This document has been issued for information purposes only. It does not contain any investment recommendations or an invitation to invest in the product. Investors should consider seeking advice from an authorised financial adviser prior to making any investment decisions. Further information on the Company, including its latest financial reporting , is published on the website.