Title: GG00BFMDJH11 PRIIP KID URL Source: https://doc.morningstar.com/document/2714cb1c7744187d154f3d3976019dc6.msdoc/?clientid=equiniti&key=118e3421984822cc Number of Pages: 3 Markdown Content: Page 1 of 3 # Key Information Document # What is this product? Type Ordinary Shares in CEIBA Investments Limited, an actively managed investment company, registered in Guernsey and listed on the Specialist Fund Segment of the London Stock Exchange. The Specialist Fund Segment is intended for institutional, professional, professionally advised and knowledgeable investors who understand, or who have been advised of, the potential risk from investing in companies admitted to the Specialist Fund Segment. The Company's articles of association prohibit United States persons from having an interest in the Company. Shares of CEIBA Investments Limited (the “Company”) are bought and sold via markets. At any time, the price you would pay to acquire a share will normally be higher than the price at which you could sell it. The price may be at a premium or discount to the net asset value of the Company. Term The Company does not have a fixed life but the Company may be wound up subject to shareholder approval and compliance with relevant legal and regulatory requirements. abrdn Fund Managers Limited may not unilaterally terminate the Company. Objective The Company's investment objective is to provide a regular level of income and substantial capital growth from investing in Cuban real estate and other assets directly related to Cuba, with a focus on the tourism-related and commercial property sectors. The majority of the Company's investments are held through joint venture shareholdings or subsidiary companies. The Company may borrow to acquire assets. This fund is subject to Article 6 of the Sustainable Finance Disclosure Regulation (“SFDR”). Intended Retail Investor Shares in the Company are bought and sold on a stock market. Investment in the Company is only suitable for investors who are comfortable with the risks and investment time horizon set out in this document and may not be appropriate if you plan to sell some or all of your shares within 5 years. Please contact your broker, financial adviser or distributor for information on any costs and charges relating to the sale of shares. The Fund's depositary is JTC Global AIFM Solutions Limited. The pre-investment disclosure document, latest prospectus (if any), the articles of incorporation, the annual reports and interim reports may be obtained free of charge from our website. All documents are available in English. For further information about CEIBA Investments Limited, including the latest published net asset values and share prices, please visit www.ceibalimited.co.uk. # What are the risks and what could I get in return? Risk Indicator The risk indicator assumes you keep the product for 5 years. The actual risk can vary significantly if you sell it at an earlier stage. The value of investments and the income from them can go down as well as up, and you may get back less than you invested. 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 or because the Company is not able to pay you. We have classified this Fund as 3 out of 7, which is a medium-low risk class. This rates the potential losses from future performance at a very low level, and poor market conditions are very unlikely to impact our capacity to pay you. Further information on risks is detailed in the Company's annual report available in the literature library on www.ceibalimited.co.uk/en/literature-library. This product does not include any protection from future market performance so you could lose some or all of your investment. The Company borrows/ may borrow in order to purchase assets, and this may magnify gains or losses. Shares in the Company may trade at a discount to their Net Asset Value, which may adversely affect the value of your investment, particularly when you come to sell your shares. # Purpose This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. # Product ## Product Name: Ordinary shares in CEIBA Investments Limited ISIN: GG00BFMDJH11 Website: www.ceibalimited.co.uk Telephone: 0808 500 0040 This product is managed by abrdn Fund Managers Limited, a firm authorised and regulated by the Financial Conduct Authority in the United Kingdom. Document published: 01/01/2023 You are about to purchase a product that is not simple and may be difficult to understand. # 1 2 3 4 5 6 7 Lower risk Higher risk Page 2 of 3 The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your broker, adviser or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. The stress scenario shows what you might get back in extreme market circumstances. The unfavourable scenario occurred for an investment in the benchmark between 2021 and 2022. The moderate scenario occurred for an investment in the benchmark between 2014 and 2019. The favourable scenario occurred for an investment in the benchmark between 2013 and 2018. Performance Scenarios What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product / a suitable benchmark over the last 10 years. The scenarios shown are illustrations based on results from the past and on certain assumptions. Markets could develop very differently in the future. Recommended holding period: 5 years Example Investment: 10,000 GBP If you exit after 1 year If you exit after 5 years Scenarios Minimum There is no minimum guaranteed return. You could lose some or all of your investment. Stress What you might get back after costs 3,750 GBP 3,780 GBP Average return each year -62.50% -17.70% Unfavourable What you might get back after costs 6,540 GBP 5,200 GBP Average return each year -34.60% -12.30% Moderate What you might get back after costs 10,900 GBP 15,760 GBP Average return each year 9.00% 9.50% Favourable What you might get back after costs 13,810 GBP 21,780 GBP Average return each year 38.10% 16.80% # What happens if the Company is unable to pay out? As a shareholder in 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 dividends to you or if it were unable to pay any amounts due to you on the winding up of the Company. # What are the costs? The person advising on or selling you this product may charge you other costs. If so, this person will provide you with information about these costs and how they affect your investment. Costs over Time The tables show the amounts that are taken from your investment to cover different types of costs. These amounts depend on how much you invest, how long you hold the product and how well the product does. The amounts shown here are illustrations based on an example investment amount and different possible investment periods. We have assumed: - In the first year you would get back the amount that you invested (0% annual return). For the other holding periods we have assumed the product performs as shown in the moderate scenario - 10,000 GBP is invested. If you exit after 1 year If you exit after 5 years Total costs 215 GBP 1769 GBP Annual cost impact (*) 2.2% 2.4% each year * This illustrates how costs reduce your return each year over the holding period. For example it shows that if you exit at the recommended holding period your average return per year is projected to be 11.9% before costs and 9.50% after costs. We may share part of the costs with the person selling you the product to cover the services they provide to you. They will inform you of the amount. Composition of Costs One-off costs upon entry or exit If you exit after 1 year Entry costs We do not charge an entry fee for this product. 0 GBP Exit costs We do not charge an exit fee for this product. 0 GBP Ongoing costs taken each year Management fees and other administrative or operating costs 2.80% of the value of your investment per year. This is an estimate based on actual costs over the last year and takes account of any known future changes. 280 GBP Transaction costs 0.00% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell. Where Transaction Costs are reported as zero, it is likely that any 0 GBP Page 3 of 3 calculated cost has been fully offset by anti-dilution proceeds collected from subscriptions or redemptions to the fund in the period. Incidental costs taken under specific conditions Performance fees There is no performance fee for this product. # How long should I hold it and can I take money out early? Recommended holding period: 5 years This product has no required minimum holding period but is designed for medium to long-term investment. Since the value of investments and the income from them can rise and fall over differing time periods, you should have an investment horizon of at least 5 years when buying an investment of this type. As the shares are listed on the London Stock Exchange, you may buy or sell shares on any normal business day that the London Stock Exchange is open for business. The Company's articles of association prohibit United States persons from having an interest in the Company. # How can I complain? For complaints about the Company or the key information document, you should write to the Company Secretary, CEIBA Investments Limited, Ground Floor, Dorey Court, Admiral Park, St Peter Port, Guernsey GY1 2HT, Channel Islands. # Other relevant information The cost, performance and risk calculations included in this document are based on the methodologies prescribed by EU rules. The performance scenarios are based on share price total returns with dividends reinvested. The data used in these calculations and the specific methodology applied may change in the future. Depending on how you buy your shares, you may incur other costs including broker commission, platform fees and stamp duty. Please ask your broker or platform provider for additional information where necessary. Transaction costs have been calculated in accordance with the rules, which exclude costs incurred through joint venture shareholdings or subsidiary companies. Further information on the Company's investment policies, the types of assets in which the Company may invest, borrowing limits as well as details of its management, administration and depositary arrangements can be found in its Annual Report and Pre-Investment Disclosure Document available on the Company's website: www.ceibalimited.co.uk and will be available in paper copy free of charge upon request. Copies of the Company's published net asset values will also be available on the website in due course. Previous performance scenario calculations are available at www.abrdn.com/kid-hub.