Summary

• The abrdn U.S. Small Cap Equity Fund gained and outperformed the Russell 2000 Index.
• Shares of Viavi Solutions benefited from growth in the data-centre ecosystem and contributions from recent acquisitions.
• Alphatec Holdings' shares sold off after reporting fourth-quarter earnings below elevated investor expectations, alongside heightened scrutiny across high-growth medical device names.
• The Fund's management believes Mirion Technologies is well positioned to benefit from the accelerating nuclear renaissance as global capacity expands and the installed base continues to age.
• Escalating tensions in the Middle East have pushed energy prices sharply higher, driving renewed concerns over supply-driven inflation at a time when the labour market is beginning to soften.

Fund performance

The Fund gained (gross of fees) and outperformed the Russell 2000 Index.

At the stock level, shares of Viavi Solutions (VIAV) benefited from growth in the data-centre ecosystem and contributions from recent

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