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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>abrdn Funds<br/>
(the “Trust”)</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>abrdn Ultra Short Municipal Income Fund<br/>
(the “Fund”)</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Supplement dated March 6, 2026 to the Fund’s
Statutory Prospectus dated February 28, 2026 (the “Prospectus”), as supplemented to date</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Effective February 28, 2026, under “Summary – abrdn
Ultra Short Municipal Income Fund”, the expense table in the “Fees and Expenses of the Fund” section on page 68
of the Prospectus is replaced in its entirety by the following:</i></p>
abrdn Funds
abrdn Ultra Short Municipal Income Fund
2026-02-28
<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Shareholder Fees (fees paid directly from your investment)</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Class A<br/> Shares</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Class A1<br/> Shares</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Institutional<br/> Class Shares</td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 59%; text-align: left; padding-bottom: 1pt">Maximum Sales Charge (Load) imposed upon purchases (as a percentage of offering price)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">0.50</td><td style="font: 10pt Times New Roman, Times, Serif; width: 3%; padding-bottom: 1pt; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Maximum Deferred Sales Charge (Load) (as a percentage of offering or sale price, whichever is less)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.25</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%<sup>(1)</sup></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Small Account Fee <sup>(2)</sup></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">20</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">20</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">20</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr>
</table>
Shareholder Fees (fees paid directly from your investment)
0
0.005
0
0
0.0025
0
20
20
20
Annual Fund Operating
Expenses (expenses that you pay each year as a percentage of the value of your investment)
<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; width: 59%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management Fees <sup>(3)</sup></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">0.30</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">0.30</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 3%">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 10%">0.30</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; width: 1%">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Distribution and/or Service (12b-1) Fees</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.25</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.25</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Other Expenses</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.29</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.19</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.27</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Annual Fund Operating Expenses</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.84</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.74</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.57</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Amount of Fee Limitations/Expense Reimbursements <sup>(4)</sup></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.14</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.04</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.12</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Annual Fund Operating Expenses After Fee Limitations/Expense Reimbursements</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.70</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.70</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.45</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><sup>(1) </sup>Unless you are otherwise eligible to purchase
Class A1 shares without a sales charge, a contingent deferred sales charge (CDSC) of up to 0.25% will be charged on Class A1
shares redeemed within 12 months of purchase if you paid no sales charge on the original purchase and a finder’s fee was paid.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><sup>(2) </sup>Accounts with balances below $1,000 are generally
subject to a $5 quarterly fee (with an annual maximum of $20 per account). Shares from such accounts are redeemed each quarter to cover
the fee, which is returned to the Fund to offset small account expenses.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><sup>(3) </sup>Management fees have been restated to reflect
current fees as a result of a reduction in the Fund’s contractual management fee rate effective October 17, 2025.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><sup>(4) </sup>abrdn Funds (the “Trust”) and abrdn
Inc. (the “Adviser”) have entered into a written contract limiting operating expenses to 0.70% for Class A shares, 0.70%
for Class A1 shares and 0.45% for Institutional Class shares. This contractual limitation may not be terminated without the
approval of the Independent Trustees before February 28, 2027. This limit includes Rule 12b-1 Fees, but excludes certain expenses,
including any interest, brokerage commissions, expenses incurred indirectly by the Fund as a result of investments in other investment
companies and pooled investment vehicles (“acquired fund fees and expenses” or “AFFE”) (but includes AFFE for
affiliated investment vehicles managed by the Adviser), and extraordinary expenses. The Trust is authorized to reimburse the Adviser for
management fees previously limited and/or for expenses previously paid by the Adviser, provided, however, that any reimbursements must
be paid at a date not more than three years after the date when the Adviser limited the fees or reimbursed the expenses and the reimbursements
do not cause a Class to exceed the lesser of the applicable expense limitation in the contract at the time the fees were limited
or expenses are paid or the applicable expense limitation in effect at the time the expenses are being recouped by the Adviser.</p>
0.003
0.003
0.003
0.0025
0.0025
0
0.0029
0.0019
0.0027
0.0084
0.0074
0.0057
-0.0014
-0.0004
-0.0012
0.007
0.007
0.0045
Unless you are otherwise eligible to purchase
Class A1 shares without a sales charge, a contingent deferred sales charge (CDSC) of up to 0.25% will be charged on Class A1
shares redeemed within 12 months of purchase if you paid no sales charge on the original purchase and a finder’s fee was paid.
2027-02-28
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Please retain this supplement for future reference.</b></p>
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2026-03-06