- The abrdn Income Credit Strategies Fund is a diversified, closed-end management investment company with a primary objective of seeking a **high level of current income** and a secondary objective of capital appreciation.  **[1503290_0001410578-25-002043_tm2521671d4_ex99-1.htm:0]**  The Fund primarily invests in **loan and debt instruments**, including senior secured floating rate and fixed rate loans, and second lien or other subordinated loans or debt instruments, aiming to invest at least **80% of its "Managed Assets"** in these credit obligations and related instruments.  **[1503290_0001410578-25-002043_tm2521671d4_ex99-1.htm:0]** 
- Effective **November 10, 2025**, the Fund's non-fundamental investment strategy will change to allow it to invest up to **5% of its portfolio in credit obligations or related instruments that, at the time of investment, are in default**.  **[1503290_0001410578-25-002043_tm2521671d4_8k.htm:1]** **[1503290_0001410578-25-002043_tm2521671d4_ex99-1.htm:3]**  Previously, the Fund would not invest in defaulted credit obligations.  **[1503290_0001410578-25-002043_tm2521671d4_8k.htm:1]** 
- The Fund is permitted to obtain and use **leverage opportunistically** through various instruments, subject to 1940 Act limitations, such as indebtedness not exceeding **33 1/3% of total net assets** and preferred shares plus senior securities representing indebtedness not exceeding **50% of total assets**.  **[1503290_0001410578-25-002043_tm2521671d4_ex99-1.htm:2]** **[1503290_0001410578-25-002043_tm2521671d4_ex99-1.htm:3]** **[1503290_0001410578-25-002043_tm2521671d4_ex99-1.htm:40]** **[1503290_0001410578-25-002043_tm2521671d4_ex99-1.htm:55]**  Additionally, the Fund uses derivative instruments, primarily forward contracts, to hedge foreign currency risk.  **[1503290_0001410578-25-002043_tm2521671d4_ex99-1.htm:21]**

abrdn Income Credit Strategies Fund (ACP)