CGBCX — Aberdeen Global Unconstrained Fixed Income Fund (formerly, Aberdeen Global Fixed Income Fund)

CGBCX Fund Overview

CGBCX — Aberdeen Global Unconstrained Fixed Income Fund (formerly, Aberdeen Global Fixed Income Fund) is a US mutual fund managed by abrdn Funds, categorised as Intermediate Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: abrdn Funds
• Category: Intermediate Total / Aggregate Bond
• Assets under management: $20.21M
• 1-year return: -10.3%
• Ticker: CGBCX
• SEC CIK: 0001413594
• SEC series ID: S000025401
• Share class ID: C000076085

CGBCX Investment Objective and Strategy

Aberdeen Global Unconstrained Fixed Income Fund (formerly, Aberdeen Global Fixed Income Fund) describes its objective and strategy as follows, from its latest prospectus filed with the SEC by abrdn Funds.

Investment objective

The Aberdeen Global Unconstrained Fixed Income Fund (the Global Unconstrained Fixed Income Fund or the Fund) seeks to maximize total investment return consistent with prudent investment management, consisting of a combination of interest income and capital appreciation.

Principal investment strategy

As an unconstrained fund, the Global Unconstrained Fixed Income Fund has the flexibility to invest in all fixed income asset classes across varying sectors, maturities and credit qualities. The Fund may also invest in derivative instruments to hedge currency, credit and interest rate exposure and for speculative purposes. As a non-fundamental policy, under normal market conditions, the Global Unconstrained Fixed Income Fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in fixed income securities of issuers located in a number of countries throughout the world, which may include the U.S. If the Global Unconstrained Fixed Income Fund changes its 80% investment policy, it will notify shareholders at least 60 days before the change and, if necessary, will change the name of the Global Unconstrained Fixed Income Fund.

Under normal market conditions, the Fund will invest significantly (at least 40%unless market conditions are not deemed favorable by the Adviser, in which case the Fund would invest at least 30%) in non-U.S. issuers. A company is considered a non-U.S. issuer if Fund management determines that the company meets one or more of the following criteria: the company is organized under the laws of or has its principal place of business in a country outside the U.S.; has its principal securities trading market in a country outside the U.S.; and/or derives the majority of its annual revenue or earnings or assets from goods produced, sales made or services performed in a country outside the U.S. Under normal market conditions, the Fund invests in securities from at least three different countries. There is no limit on the Funds ability to invest in emerging market countries.

At times, the Fund may have a significant amount of its assets invested in a country or geographic region. The Fund may invest in holdings of any maturity and does not attempt to maintain any particular weighted average maturity. The Fund also has no stated average portfolio duration range, and its average portfolio duration may be long or short. Duration is a measure used to determine the sensitivity of a securitys price to interest rate changes. The longer a securitys duration, the more sensitive it will be to interest rates. The Fund may invest in securities of any market sector and may hold a significant amount of securities of companies, from time to time, within a single sector. The Adviser seeks to achieve the Funds investment objective through various market environments by managing portfolio duration, credit risk and volatility.

The Adviser bases its investment decisions on fundamental factors, including economic, market and currency trends and credit quality. The Adviser examines the material risks of an investment across a spectrum of considerations including financial metrics, regional and national conditions, industry specific factors and ESG (Environmental, Social and Governance) risks. ESG considerations are fully integrated across all asset classes. The Adviser assesses how these issues are managed and mitigated as well as the opportunities they might create for the issuer. The Fund may purchase securities denominated in foreign currencies or in U.S. Dollars. The Adviser intends to seek to enhance return by managing currency exposure, involving primarily hedging transactions but also speculating in comparative changes in currency exchange rates.

The Fund may invest in all types of fixed income asset classes, including, but not limited to: corporate bonds, debentures and notes; convertible debt securities; preferred stocks; government securities; municipal and other government related securities; mortgage-backed and other asset-backed securities; variable and floating rate instruments; private placements including securities issued under Rule 144A and/or Regulation S (Regulation S Securities); and repurchase agreements involving portfolio securities. The Fund may also invest in money market instruments or hold cash to the extent deemed advisable by the Adviser in seeking to achieve the Funds investment objective. The Fund may invest up to: 50% of net assets in fixed income securities rated below investment grade (junk bonds); 40% of assets in securities of issuers located in any single foreign country; 25% of assets in the securities of any one foreign government, its agencies, instrumentalities and political subdivisions; and 20% of net assets in equity securities, including common stocks, warrants and rights.

Fixed income securities are considered below investment grade if rated below investment grade by Moodys Investors Services, Inc. (Moodys) (below Baa3), Standard & Poors Rating Services (S&P) (below BBB-), or Fitch, Inc. (Fitch) (below BBB-) or, if unrated, determined by the Adviser to be of comparable quality. In the event that a security receives different ratings from different nationally recognized statistical rating organizations (NRSROs), the Adviser will treat the security as being rated in the lowest rating category received from an NRSRO. In pursuing its investment strategies, the Fund also intends to invest in financial derivative instruments. A derivative is a contract whose value is based on the performance of an underlying financial asset, index or economic measure. In general, these financial derivative instruments include, but are not limited to, futures, options, swaps (including, but not limited to, credit and credit-default, interest rate and inflation swaps and options on swaps (commonly referred to as swaptions)), forward foreign currency exchange contracts and options, and credit linked notes.

The Fund is permitted to write credit default swaps. The Fund intends to primarily purchase and sell forward foreign currency exchange contracts, interest rate futures and swaps and credit default swaps. The Fund may use these derivative techniques for a wide variety of purposes, including, but not limited to, the following: to manage the Funds interest rate, credit and currency exposure; as a substitute for taking a position in the underlying asset (where the Adviser feels that a derivative exposure to the underlying asset represents better value than a direct exposure); to gain an exposure to the composition and performance of a particular index (provided always that the Fund may not have an indirect exposure through an index to an instrument or currency to which it could not have direct exposure); as a hedging strategy; to seek to increase total returns (which is considered a speculative practice); and to take short positions via derivatives in securities, interest rates, credits, currencies and markets.

In complying with the minimum and maximum investment limitations set forth above, the Fund may include investments in derivatives with an underlying asset with economic characteristics similar to the investments included in such limitation. Derivative strategies involve risks which are further detailed in Principal Risks: Derivatives Risk. The Fund may have high portfolio turnover and the portfolio turnover rate may exceed 100% per year.

CGBCX Holdings

Top 10 holdings of Aberdeen Global Unconstrained Fixed Income Fund (formerly, Aberdeen Global Fixed Income Fund) by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all CGBCX holdings

CGBCX Portfolio Allocation

Asset-class allocation of Aberdeen Global Unconstrained Fixed Income Fund (formerly, Aberdeen Global Fixed Income Fund) by percentage of net assets, from the latest SEC N-PORT filing.

CGBCX Performance

Total returns for CGBCX (as of 2026-10-01), from SEC filings.

CGBCX Risk Information

Risk metrics for CGBCX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 4.8%

CGBCX Costs and Fees

CGBCX costs about $168 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.68%
• Gross expense ratio: 3.76%
• Portfolio turnover: 17%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

CGBCX Cashflows

Over the 12 months to 2026-04, Aberdeen Global Unconstrained Fixed Income Fund (formerly, Aberdeen Global Fixed Income Fund) had net outflows of $2.79M, from monthly SEC N-PORT filings.

CGBCX Debt Constituents

Largest debt holdings of Aberdeen Global Unconstrained Fixed Income Fund (formerly, Aberdeen Global Fixed Income Fund) by percentage of net assets, from the latest SEC N-PORT filing.

CGBCX Prospectus and SEC Filings

Official Aberdeen Global Unconstrained Fixed Income Fund (formerly, Aberdeen Global Fixed Income Fund) filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2025-02-28
• Prospectus supplement (497) — filed 2026-03-04
• Prospectus supplement (497) — filed 2024-03-05
• Portfolio holdings (N-PORT) — filed 2026-09-29
• Portfolio holdings (N-PORT) — filed 2026-06-26
• Portfolio holdings (N-PORT) — filed 2026-03-25
• Annual census (N-CEN) — filed 2026-01-14
• Annual census (N-CEN) — filed 2025-01-13

Related Funds

Other Intermediate Total / Aggregate Bond funds tracked on ABC INVEST:

• Vanguard Total Bond Market Index Fund (VBMFX)
• Vanguard Total Bond Market II Index Fund (VTBIX)
• Vanguard Total International Bond II Index Fund (VTIIX)
• iShares Core U.S. Aggregate Bond ETF (AGG)
• Vanguard Total International Bond Index Fund (VTIBX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.