Abrdn Income Credit Strategies Fund
ACP
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- abrdn Income Credit Strategies Fund (ACP) is a diversified, closed-end management investment company focused on seeking a high level of current income with a secondary objective of capital appreciation. The Fund achieves its objectives by opportunistically investing primarily in debt and loan instruments, including below-investment-grade credit obligations, across a variety of industries such as consumer discretionary, materials, energy, financials, health care, capital goods, telecommunication services, and information technology; it may invest without limitation in high-yield securities from issuers operating in multiple geographic regions worldwide. Managed by abrdn Investments Limited as investment adviser and abrdn Inc. as sub-adviser, the Fund was formed in 2010 and is domiciled in the United States with headquarters at 1900 Market Street, Suite 200, Philadelphia, Pennsylvania. The Fund's portfolio emphasizes fixed income markets globally, with a core allocation to loans and debt instruments that provide interest income and potential capital gains through credit market opportunities. It serves income-oriented investors by maintaining a closed-end structure that supports a diversified, actively managed approach without daily redemption pressures. Recent major changes include the closing of a reorganization with First Trust High Income Long/Short Fund (FSD) in July 2024, through which ACP acquired assets to enhance its portfolio and scale; additionally, in December 2024, the Fund announced a reduction in its monthly distribution rate from 10 cents to 7.75 cents per share to better align with sustainable earnings amid tightening credit spreads and market conditions, with a commitment to maintain the new rate for at least 12 months. These adjustments reflect strategic responses to evolving high-yield market dynamics while prioritizing long-term fund health and investor stability.