ABRDN GLOBAL DYNAMIC DIVIDEND FUND

ABRDN TOTAL DYNAMIC DIVIDEND FUND
ABRDN GLOBAL PREMIER PROPERTIES FUND
1900 Market Street, Suite 200

Philadelphia, PA 19103

NOTICE OF SPECIAL MEETINGANNUAL MEETINGS OF SHAREHOLDERS

To be held on November 9, 2022

May 25, 2023

TO THE SHAREHOLDERS:

NOTICE IS HEREBY GIVEN that a specialthe annual meeting (the “Special Meeting”) of shareholders of each of abrdn Global Dynamic Dividend Fund, (the “Fund”abrdn Total Dynamic Dividend Fund and abrdn Global Premier Properties Fund (each, a "Fund," and collectively, the "Funds") will be held in a virtual formatat the offices of abrdn Inc., located at 1900 Market Street, Suite 200, Philadelphia, PA 19103 (each meeting, an "Annual Meeting," and collectively, the "Annual Meetings") on November 9, 2022 at10:30 a.m. Eastern Time.the following dates and at the following times:

abrdn Global Dynamic Dividend Fund (NYSE: AGD)				May 25, 2023				9:00 a.m. Eastern Time
abrdn Total Dynamic Dividend Fund (NYSE: AOD)				May 25, 2023				9:30 a.m. Eastern Time
abrdn Global Premier Properties Fund (NYSE: AWP)				May 25, 2023				10:00 a.m. Eastern Time

The purpose of the Special MeetingAnnual Meetings is to consider and act upon the following proposal (the “Proposal”proposals (each, a "Proposal"), for each Fund, as applicable, and to consider and act upon such other matters as may properly come before the Special MeetingAnnual Meetings or any adjournments or postponements thereofthereof:

AGD — To elect two Class III Trustees to serve for a three-year term.

AOD — To approve the issuance of additional common shares of beneficial interest of the Fund in connection with the reorganization of Delaware Enhanced Global Dividend and Income Fund and Delaware Investments^® Dividend and Income Fund, eachelect two Class III Trustees to serve for a closed-end fund, with and into the Fund.three-year term.

AWP — To elect two Class III Trustees to serve for a three-year term.

TheEach Proposal is discussed in greater detail in the enclosed Joint Proxy Statement. You are entitled to notice of, and to vote at, the SpecialAnnual Meeting of a Fund if you owned shares of thesuch Fund at the close of business on August 11, 2022April 10, 2023 (the “Record Date”"Record Date"). If you virtually attend the Special Meeting, you may vote your shares electronically at that time. Even if you expect to attend the Specialan Annual Meeting, please complete, date, sign and return the enclosed proxy cardcard(s) in the enclosed postage-paid envelope or authorize your proxy by telephone or through the Internet.

All shareholders are requested to vote by proxy over the Internet, by telephone or by completing, dating and signing the enclosed proxy card and returning it promptly.

The Special Meeting will be a completely virtual meeting of shareholders, which will be conducted solely online via live webcast.

The Fund wants to assure its shareholders of its commitment to ensuring that the Special Meeting provides shareholders with a meaningful opportunity to participate, including the ability to ask questions of the Fund’s Board of Trustees and management.  To support these efforts, the Fund will:

Registering to Attend the Virtual Special Meeting as a Beneficial Owner

We will admit to the Specialan Annual Meeting (1) all shareholders of record on the Record Date, (2) persons holding proof of beneficial ownership aton the Record Date, such as a letter or account statement from the person’sperson's broker, (3) persons who have been granted proxies, and (4) such other persons that we, in our sole discretion, may elect to admit. All persons wishing to be admitted to an Annual Meeting must present photo identification. If you owned shares as of the Record Date and wish to participate in the Meeting, you must email AST Fund Solutions, LLC (‘‘AST’’) at attendingameeting@astfinancial.com or call AST toll-free at 1-800-431-9643, in order to registerplan to attend thean Annual Meeting, obtain the credentials to access the Meeting, and verifywe ask that you were a shareholder on the Record Date. If you are a record owner of shares, please have your control number on your proxy card available when you call or include itus in your email. You may vote during the Meeting by following the instructions that will be available on the Meeting website during the Meeting. If you hold your shares through an intermediary, such as a bank or broker, as of the Record Date, you must provide a legal proxy from that institution in order to vote your sharesadvance at the Meeting. You may forward an email from your intermediary or attach an image of your legal proxy and transmit it via email to AST at attendingameeting@astfinancial.com and you should label the email ‘‘Legal Proxy’’ in the subject line. If you hold your shares through an intermediary as of the Record Date and wish to attend, but not vote at, the Meeting, you must verify to AST that you owned shares as of the Record Date through an account statement or some other similar means.

Requests for registration must be received by AST no later than 5:00 p.m., Eastern Time, on November 8, 2022. You will then receive a confirmation email from AST of your registration and a control number that will allow you to vote at the Meeting.

1-800-522-5465.

This noticeNotice and related proxy materials are first being mailed to shareholders on or about September 23, 2022.April 15, 2023.

Important Notice Regarding the Availability of Proxy Materials for the Special MeetingAnnual Meetings of Shareholders to Be Held on November 9, 2022:Thursday, May 25, 2023: This Notice, the Joint Proxy Statement and the form of proxy cardcards are available on the Internet at https://vote.proxyonline.com/aberdeen/docs/agd.pdf.www.abrdnagd.com (for AGD) https://www.abrdnaod.com (for AOD) and https://www.abrdnawp.com (for AWP). On thiseach Fund's website, you will be able to access the Notice, the Joint Proxy Statement, the form of proxy cardcard(s) and any amendments or supplements to the foregoing materials that are required to be furnished to shareholders.

By order of the BoardBoards of Trustees,

Megan Kennedy, Vice President and Secretary

abrdn Global Dynamic Dividend Fund
abrdn Total Dynamic Dividend Fund
abrdn Global Premier Properties Fund

TO AVOID THE UNNECESSARY EXPENSE OF FURTHER SOLICITATION, WHETHER OR NOT YOU PLAN TO ATTEND THE SPECIAL MEETING VIRTUALLY,ANNUAL MEETINGS, IT IS IMPORTANT THAT YOUR SHARES BE REPRESENTED AND VOTED AT THE SPECIAL MEETING.ANNUAL MEETINGS. ACCORDINGLY, YOU ARE REQUESTED TO PLEASE DATE, SIGN AND RETURN THE ENCLOSED PROXY CARDCARD(S) FOR THE SPECIAL MEETINGANNUAL MEETINGS PROMPTLY, OR TO AUTHORIZE THE PROXY VOTE BY TELEPHONE OR THROUGH THE INTERNET PURSUANT TO THE INSTRUCTIONS ON THE ENCLOSED PROXY CARD.CARD(S). NO POSTAGE IS REQUIRED IF MAILED IN THE UNITED STATES. IT IS IMPORTANT THAT YOUR PROXY CARDCARD(S) BE RETURNED PROMPTLY IN ORDER TO AVOID THE ADDITIONAL EXPENSE OF FURTHER SOLICITATION.

September 14, 2022

April 15, 2023
Philadelphia, Pennsylvania

The election of a Trustee to a Board requires the affirmative vote of a plurality of the shares entitled to vote for the election of any Trustee present or represented by proxy at a Meeting with a quorum present. Under a plurality vote, the nominees who receive the highest number of votes will be elected even if they receive less than a majority of the votes. For purposes of the election of Trustees, abstentions and broker non-votes will be counted as shares present for quorum purposes, but will not be treated as votes cast. Abstentions and broker non-votes, therefore, will have no effect on the election of the Trustees. All properly executed proxies received prior to the Meetings will be voted, at the Meetings or at any adjournments or postponements thereof, in accordance with the instructions marked thereon. Proxies received prior to the Meetings on which no vote is indicated will be voted "FOR" the election of the Trustees.

Brokers holding shares of a Fund in "street name" for the benefit of their customers and clients will request the instructions of such customers and clients on how to vote their shares before the Meetings. Under the rules of the New York Stock Exchange ("NYSE"), such brokers may, for certain "routine" matters, grant discretionary authority to the proxies designated by a Board to vote if no instructions have been received from their customers and clients prior to the date specified in the brokers' request for voting instructions. Each Proposal is a "routine" matter and accordingly beneficial owners who do not provide proxy card.

instructions or who do not return a proxy card may have their shares voted by broker-dealer firms in favor of the Proposal.

The Fund wantschair of a Meeting shall have the power to assure its shareholders of its commitment to ensuring thatadjourn the Meeting provides shareholders with a meaningful opportunity to participate, including the ability to ask questions of the Fund’swithout further notice other than announcement at that Meeting. Each Board of Trustees also has the power to postpone a Meeting to a later date and/or time in advance of the Meeting. Abstentions and management.  To support these efforts,broker non-votes will have the Fund will:same effect at any adjourned or postponed meeting as noted above. Any business that might have been transacted at a Meeting may be transacted at any such adjourned or postponed session(s) at which a quorum is present.

Written notice of an adjournment of a Meeting, stating the place, date and hour thereof, shall be given to each shareholder entitled to vote thereat at least ten (10) days prior to the Meeting, if the Meeting is adjourned to a date more than one hundred thirty (130) days after the original Record Date set for the Meeting.

We will admit to theeach Meeting (1) all shareholders of record on August 11, 2022April 10, 2023 (the “Record Date”"Record Date"), (2) persons holding proof of beneficial ownership aton the Record Date, such as a letter or account statement from the person’sperson's broker, (3) persons who have been granted proxies, and (4) such other persons that we, in our sole discretion, may elect to admit. To gain admittance, if you are a shareholder of record or a proxy holder of a shareholder of record, you must bring a form of personal identification to the Meeting, where your name will be verified against our shareholder list. If a broker or other nominee holds your shares and you ownedplan to attend a Meeting, you should bring a recent brokerage statement showing your ownership of the shares, as well as a form of the Record Date and wish to participate in the Meeting, you must email AST Fund Solutions, LLC (‘‘AST’’) at attendingameeting@astfinancial.com or call AST toll-free at 1-800-431-9643, in order to register to attend the Meeting, obtain the credentials to access the Meeting, and verify that you were a shareholder on the Record Date.personal identification. If you are a recordbeneficial owner of shares, please have your control number on your proxy card available when you call or include it in your email. You may vote during the Meeting by following the instructions that will be available on the Meeting website during the Meeting. If you hold your shares through an intermediary, such as a bank or broker, as of the Record Date, you must provide a legal proxy from that institution in order to vote your shares at the Meeting. You may forward an email from your intermediary or attach an image of your legal proxy and transmit it via email to AST at attendingameeting@astfinancial.com and you should label the email ‘‘Legal Proxy’’ in the subject line. If you hold your shares through an intermediary as of the Record Date and wish to attend, but not vote at, the Meeting, you must verify to AST that you owned shares as of the Record Date through an account statement or some other similar means.

Requests for registration must be received by AST no later than 5:00 p.m., Eastern Time, on November 8, 2022. You will then receive a confirmation email from AST of your registration and a control number that will allow youplan to vote at the Meeting.a Meeting, you should also bring a proxy card from your broker.

You may also call 1-800-431-9643 for information on how to obtain directions to be able to register to attend the Meeting.

TheEach Board has fixed the close of business on August 11, 2022,April 10, 2023 as the Record Date for the determination of shareholders entitled to notice of, and to vote at, theeach Meeting and at any adjournment or postponement thereof. Shareholders

Each Fund has one class of theshares, no par value per share. Each share of a Fund as of the Record Date will beis entitled to one vote at the Meeting, and fractional shares are entitled to one vote for each share held and a proportionate share of one vote for each fractional share held. As ofvote. On the Record Date, 12,549,582the following number of shares of theeach Fund were issued and outstanding.outstanding:

The common shares of the Fund are listed on the New York Stock Exchange (the “NYSE”) under the ticker symbol “AGD” and will continue to be so listed following the Reorganizations. The common shares of the Acquired Funds are listed on the NYSE under the ticker symbols “DEX” and “DDF” for the Delaware Enhanced Global Dividend and Income Fund and the Delaware Investments^® Dividend and Income Fund, Inc., respectively and would be delisted from the NYSE following the Reorganizations. Shareholder reports, proxy statements and other information concerning Funds can be inspected at the NYSE.

The Board of Trustees of the Fund believes that the Reorganizations may benefit the Fund and its shareholders, including through economies of scale that could result from the increased total assets of the Fund. The Trustees considered that increased assets of the Fund following the Reorganizations may provide the Fund with additional liquidity and may decrease the total expense ratio of the Fund by spreading fixed expenses over a larger asset base.

After careful consideration, the Board of Trustees of the Fund recommends that you vote “FOR” the Proposal.

Important Notice Regarding the Availability of Proxy Materials for the Special Meeting of ShareholdersMeetings to Be Held on November 9, 2022 in a virtual meeting format.Thursday, May 25, 2023: The proxy materials are available on the Internet at https://vote.proxyonline.com/aberdeen/docs/agd.pdf.

The Fund’sProxy Materials and each Fund's most recent annual report for the fiscal year ended October 31, 20212022 are available on the Internet at https://www.abrdnagd.com (for AGD) https://www.abrdnaod.com (for AOD) and the Acquired Funds’https://www.abrdnawp.com (for AWP). Each Fund will furnish, without charge, a copy of its annual reportsreport for the fiscal year ended November 30, 2021October 31, 2022 and any more recent reports, to any Fund shareholder upon request. To request a copy, please write to the Funds c/o abrdn Inc., 1900 Market Street, Suite 200, Philadelphia, PA 19103, or call 1-800-522-5465. You may also call for information on how to obtain directions to be able to register to attend a Meeting.

The Election of two Class III Trustees

Pursuant to each Fund's Agreement and Declaration of Trust, each Board is divided into three classes, as nearly equal in number as possible, each of which will serve for three years, with one class being elected each year. If elected, each nominee is entitled to hold office until a Fund's annual meeting of shareholders in the year noted below or until his or her successor is elected and qualifies. Trustees who are deemed "interested persons" (as that term is defined in Section 2(a)(19) of the 1940 Act), of a Fund, the Fund's investment adviser, abrdn Investments Limited ("abrdn Ltd." or the "Investment Adviser") or, with respect to abrdn Global Premier Properties Fund, the Fund's investment sub-adviser, abrdn Inc. (the "Sub-Adviser"), are referred to in this Joint Proxy Statement as "Interested Trustees." Trustees who are not interested persons, as described above, are referred to in this Joint Proxy Statement as "Independent Trustees."

Each Board, including the Independent Trustees, upon the recommendation of such Board's Nominating and Corporate Governance Committee, which is composed entirely of Independent Trustees, has nominated the Acquired Funds filed after the date hereof, may be obtained without charge:

for the Fund:

following nominees as Class III Trustees to its Board:

The nominees have indicated an intention to serve if elected and have consented to be named in this Joint Proxy Statement.

It is the intention of the persons named as proxies on the enclosed Proxy Card(s) to vote "FOR" the election of the nominees for each Class III Trustee to serve for a three-year term. Each Board knows of no reason why the nominees would be unable to serve, but in the event of any such inability, the proxies received will be voted for such substituted nominees as such Board may recommend.

The following tables set forth certain information regarding the nominees for election to the Boards of the Funds, Trustees whose terms of office continue beyond the Meetings, and the principal officers of the Funds. abrdn Inc., its parent company abrdn plc, and its advisory affiliates are collectively referred to as "abrdn" in the tables below.

*  The "Fund Complex" consists of: abrdn Asia-Pacific Income Fund, Inc., abrdn Global Income Fund, Inc., abrdn Australia Equity Fund, Inc., abrdn Japan Equity Fund, Inc., The India Fund, Inc., abrdn Emerging Markets Equity Income Fund, Inc., abrdn Income Credit Strategies Fund, abrdn Global Dynamic Dividend Fund, abrdn Total Dynamic Dividend Fund, abrdn Global Premier Properties Fund, abrdn Global Infrastructure Income Fund, abrdn Funds (which consists of 19 portfolios) and abrdn ETFs (which consists of 3 portfolios).

**  Member of the Nominating and Corporate Governance Committee.

†  Member of the Audit Committee.

††  Deemed to be an Interested Trustee of each Fund because of his affiliation held with the Funds' Investment Adviser and Sub-Adviser, as applicable.

ADDITIONAL INFORMATION ABOUT THE TRUSTEES

Each Board believes that each Trustee's experience, qualifications, attributes and skills on an individual basis and in combination with those of the other Trustees lead to the conclusion that the Trustees possess the requisite experience, qualifications, attributes and skills to serve on their respective Board. Each Board believes that the Trustees' ability to review critically, evaluate, question and discuss information provided to them; to interact effectively with the Investment Adviser, other service providers, counsel and independent auditors; and to exercise effective business judgment in the performance of their duties, support this conclusion. Each Board has also considered the contributions that each Trustee can make to the respective Board on which he or she serves and to the Fund(s).

A Trustee's ability to perform his or her duties effectively may have been attained through the Trustee's executive, business, consulting, and/or legal positions; experience from service as a Trustee of the Fund(s) and other funds/portfolios in the abrdn complex, other investment funds, public companies, or non-profit entities or other organizations; educational background or professional training or practice; and/or other life experiences. In this regard, the following specific experience, qualifications, attributes and/or skills apply as to each Trustee in addition to the information set forth in the table above: Ms. Maasbach, financial and research analysis experience in and covering the Asia region and experience in world affairs; Mr. Malone, legal background and public service leadership experience, board experience with other public and private companies, and executive and business

consulting experience; Mr. Sievwright, banking and accounting experience and experience as a board member of public companies; Mr. Bird, Chief Executive Officer of abrdn and prior Chief Executive Officer of other public companies.

Each Board believes that the significance of each Trustee's experience, qualifications, attributes or skills is an individual matter (meaning that experience important for one Trustee may not have the same value for another) and that these factors are best evaluated at the Board level, with no single Trustee, or particular factor, being indicative of Board effectiveness. In its periodic self-assessment of the effectiveness of the Board, each Board considers the complementary individual skills and experience of the individual Trustees in the broader context of the Board's overall composition so that the Board, as a body, possesses the appropriate (and appropriately diverse) skills and experience to oversee the business of the respective Fund. References to the qualifications, attributes and skills of Trustees are presented pursuant to disclosure requirements of the Securities and Exchange Commission ("SEC") and do not constitute holding out a Board or any Trustee as having any special expertise or experience, and shall not impose any greater responsibility or liability on any such person or on a Board by reason thereof.

OFFICERS

*  Officers hold their positions with each Fund until a successor has been duly elected and qualifies.

**  Each officer may hold one or more officer position(s) in one or more other funds which are part of the Fund Complex.

Ownership of Securities

Set forth in the table below is the dollar range of equity securities in each Fund and the aggregate dollar range of equity securities in the abrdn Family of Investment Companies (as defined below) beneficially owned by each Trustee or nominee.

for Delaware Enhanced Global Dividend and Income Fund:

for Delaware Investment^® Dividend and Income Fund, Inc.

The Fund and the Acquired Fund are subject to the informational requirements(1)  This information has been furnished by each Trustee as of October 31, 2022. "Beneficial ownership" is determined in accordance with Rule 16a-1(a)(2) promulgated under the Securities Exchange Act of 1934, as amended (the “1934 Act”"1934 Act").

(2)  "Family of Investment Companies" means those registered investment companies that are advised by the Investment Adviser, or an affiliate of the Investment Adviser, and that hold themselves out to investors as related companies for purposes of investment and investor services.

As of October 31, 2022, each Fund's Trustees and officers, in the aggregate, owned less than 1% of that Fund's outstanding equity securities. As of October 31, 2022, none of the Independent Trustees or their immediate family members owned any shares of the Investment Adviser or of any person (other than a registered investment company) directly or indirectly controlling, controlled by, or under common control with the Investment Adviser.

Mr. Pittard and Ms. Ferrari serve as executive officers of the Funds. As of October 31, 2022, Mr. Pittard and Ms. Ferrari did not own shares of the Funds.

BOARD AND COMMITTEE STRUCTURE

The Board of each Fund is composed of four Trustees, three of whom are Independent Trustees. Each Fund divides the Board into three classes, with each class having a term of three years. Each year, the term of office of one class will expire and the successor(s) elected to such class will serve for a three-year term.

Each Board has appointed Mr. Malone, an Independent Trustee, as Chair. The Chair presides at meetings of the Trustees, participates in the preparation of the agenda for meetings of the Board, and acts as a liaison between the Trustees and management between Board meetings. Except for any duties specified herein, the designation of the Chair does not impose on such Trustee any duties, obligations or liability that is greater than the duties, obligations or liability imposed on such person as a member of a Board, generally.

Each Board holds regular quarterly meetings to consider and address matters involving the respective Fund. Each Board also may hold special meetings to address matters arising between regular meetings. The Independent Trustees also meet outside the presence of management in executive session at least quarterly and have engaged separate, independent legal counsel to assist them in performing their oversight responsibilities.

Each Board has established a committee structure that includes an Audit Committee and a Nominating and Corporate Governance Committee (the "Nominating Committee") (each discussed in more detail below) to assist each Board in the oversight and direction of the business affairs of the respective Fund, and from time to time may establish informal ad hoc committees or working groups to review and address the practices of the respective Fund with respect to specific matters. The Committee system facilitates the timely and efficient consideration of matters

by the Trustees, and facilitates effective oversight of compliance with legal and regulatory requirements and of each Fund's activities and associated risks. The standing Committees currently conduct an annual review of their charters, which includes a review of their responsibilities and operations.

Each Nominating Committee and each Board as a whole also conduct an annual self-assessment of the performance of the Board, including consideration of the effectiveness of the Board's Committee structure. Each Committee is comprised entirely of Independent Trustees. Each Committee member is also "independent" within the meaning of the NYSE listing standards. Each Board reviews its structure regularly and believes that its leadership structure, including having a super-majority of Independent Trustees, coupled with an Independent Trustee as Chair, is appropriate because it allows the Board to exercise informed and independent judgment over the matters under its purview and it allocates areas of responsibility among the Committees and the full Board in a manner that enhances efficient and effective oversight.

Board and Committee Meetings in Fiscal Year 2022

During the fiscal year ended October 31, 2022, the AWP and AOD Boards held four meetings and the AGD Board held five meetings. During such fiscal year, based on available records, the Trustees serving during that fiscal year attended at least 75% of the aggregate number of meetings of the Boards and of the Committees of the Boards on which they served.

Audit Committee

Each Board has an Audit Committee consisting of all the Independent Trustees. In addition, the members of the Audit Committees are also "independent," as defined in the Funds' written Audit Committee Charters. The members of each Audit Committee are Ms. Maasbach, Mr. Malone and Mr. Sievwright. Mr. Sievwright serves as the Chair of each Audit Committee and is the Audit Committee Financial Expert.

The Audit Committees have adopted an Audit Committee Charter that provides that the Audit Committees shall annually select, retain or terminate, and recommend to the Audit Committees members of the Boards and ratified by the entire Boards, who are not "interested persons" (as that term is defined in Section 2(a)(19) of the 1940 Act), of the Funds for their ratification, the selection, retention or termination, the Funds' independent auditor and, in accordanceconnection therewith, file reports, proxy statements, proxy materialsevaluate the terms of the engagements (including compensation of the auditor) and other informationthe qualifications and independence of the independent auditor, including whether the independent auditor provides any consulting, auditing or tax services to the Investment Adviser or Sub-Adviser, if applicable, and receive the independent auditor's specific representations as to its independence, delineating all relationships between the independent auditor and the Funds, consistent with the SecuritiesIndependent Standards Board ("ISB") Standard No. 1. The Audit Committee Charter also provides that the Committees shall review in advance, and Exchange Commission (“SEC”)consider approval of, any and all proposals by Funds' management or the Investment Adviser that the Funds, Investment Adviser or their affiliated persons, employ the independent auditor to render "permissible non-audit services" to the Funds and to consider whether such services are consistent with the independent auditor's independence. The written Charters for the Audit Committees are available at the Funds' websites at https://www.abrdnagd.com (for AGD), https://www.abrdnaod.com (for AOD) and https://www.abrdnawp.com (for AWP). You also may view or obtainDuring the foregoing documents fromfiscal year ended October 31, 2022, each Audit Committee met 5 times.

Service providers to the SEC:Funds, primarily the Investment Adviser, have responsibility for the day-to-day management of the Funds, which includes responsibility for risk management. As an integral part of its responsibility for oversight of the Funds, the Boards oversee risk management of the Funds' investment program and business affairs. Oversight of the risk management process is part of the Boards' general oversight of the Funds and their service providers.

Nominating Committee; Consideration of Potential Trustee Nominees

Each Board has a Nominating Committee consisting of all the Independent Trustees. The members of the Nominating Committee are Ms. Maasbach, Mr. Malone and Mr. Sievwright. Mr. Malone serves as the Chair of the Nominating Committees.

This Proxy Statement sets forth conciselyEach Nominating Committee is responsible for overseeing Board governance and related Trustee practices, including selecting and recommending candidates to fill vacancies on the information thatBoard. The Nominating Committees will consider Trustee candidates recommended by shareholders of the FundFunds. Recommendations for consideration by a Nominating Committee should know before voting onbe sent to the Proposal. Please read it carefully and retain it for future reference. No person has been authorized to give any information or make any representation not contained in this Proxy Statement and, if so given or made, such information or representation must not be relied upon as having been authorized.

THE SEC HAS NOT APPROVED OR DISAPPROVED THE FUND’S SHARES TO BE ISSUED IN THE REORGANIZATION OR PASSED UPON THE ADEQUACY OF THIS PROXY STATEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

PROPOSAL

To approve the issuance of additional common shares of beneficial interestChair of the Nominating Committee in writing together with the appropriate biographical information concerning each such recommended nominee. In addition, shareholders may themselves nominate individuals for election to the Boards for the Funds if they follow the advance notice provisions in the Funds' By-Laws, as more fully set forth below in the "ADDITIONAL INFORMATION—Shareholder Proposals" section of this Joint Proxy Statement.

In identifying and evaluating nominees for Trustees, the Nominating Committees seek to ensure that the Boards possess, in the aggregate, the strategic, managerial and financial skills and experience necessary to fulfill its duties and to achieve its objectives, and also seeks to ensure that the Boards are comprised of trustees who have broad and diverse backgrounds. The Nominating Committees look at each nominee on a case-by-case basis. In looking at the qualification of each candidate to determine if his or her election would further the goals described above, each Nominating Committee takes into account all factors it considers appropriate, which may include strength of character, mature judgment, career specialization, relevant technical skills or financial acumen, diversity of viewpoint and industry knowledge. However, a Board believes that to be recommended as a nominee, whether by the Nominating Committees or at the suggestion of a shareholder, each candidate must: (1) display the highest personal and professional ethics, integrity and values; (2) have the ability to exercise sound business judgment; (3) be highly accomplished in his or her respective field; (4) have relevant expertise and experience; (5) be able to represent all shareholders and be committed to enhancing long-term shareholder value; and (6) have sufficient time available to devote to activities of the Board and enhance his or her knowledge of the Fund's business. The Nominating Committees met one time during the fiscal year ended October 31, 2022. The Board has adopted a written Charter for the Nominating Committee, which is available at the Funds' websites at https://www.abrdnagd.com (for AGD) https://www.abrdnaod.com (for AOD) and https://www.abrdnawp.com (for AWP).

Board Oversight of Risk Management

Each Fund is subject to a number of risks, including, among others, investment, compliance, operational and valuation risks. Risk oversight forms part of each Board's general oversight of the respective Fund and is addressed as part of various Board and Committee activities. Each Board has adopted, and periodically reviews, policies and procedures designed to address these risks. Different processes, procedures and controls are employed with respect to different types of risks. Day-to-day risk management functions are subsumed within the responsibilities of the Funds' Investment Adviser, who carry out the Funds' investment management and business affairs and other service providers in connection with the reorganizationservices they provide to the Funds. The Investment Adviser and other service providers have their own, independent interest in risk management, and their policies and methods of Delaware Enhanced Global Dividendrisk management will depend on their functions and Incomebusiness models. As part of its regular oversight of each Fund, and Delaware Investments^® Dividend and Income Fund, Inc., eachthe respective Board, directly and/or through a closed-end fund,Committee, interacts with and intoreviews reports from, among others, the Fund

General

The proposed Reorganizations seekInvestment Adviser and each Fund's other service providers (including the Funds' transfer agent), the Funds' Chief Compliance Officer, the Funds' independent registered public accounting firm, legal counsel to combine each Acquired Fund withthe Funds, and intointernal auditors, as appropriate, relating to the Fund (together, the “Funds”) to ensure the viabilityoperations of the Funds, increasing scale, liquidity and marketability. The consolidation of each Acquired Fund withFunds. Each Board also requires the Fund would be effected pursuantInvestment Adviser to report to the respective AgreementsBoard on other matters relating to risk management on a regular and Plans of Reorganization between the Fund and each Acquired Fund (each a “Reorganization Agreement” and, collectively, the “Reorganization Agreements”), and is subjectas-needed basis. The Boards recognize that it may not be possible to the approval of each Acquired Fund’s shareholders. Each Reorganization has been approved by the Fund's Board, but does not require approval by the Fund's shareholders. Shareholdersidentify all of the Fund, however, are being askedrisks that may affect the Funds or to approvedevelop

processes and controls to eliminate or mitigate their occurrence or effects. Each Board may, at any time and in its discretion, change the Proposal to enable the Fund to issue the shares necessary to complete each Reorganization. Although the Fund will continue its legal existence and operations after each Reorganization, the rules of the NYSE (onmanner in which the Fund’s common shares are listed) require the Fund’s shareholders to approve the issuance of additional common shares in connection with each Reorganization.

Following the Reorganizations, shareholders of the Fund will experience an increase in the assets under management and a reduction in the Fund’s total expense ratio. The Reorganizations are expected to benefit the Fund’s shareholders in a number of important ways. The Reorganizations are expected to provide greater opportunities to realize economies of scale by combining the Fund’s assets with the assets of the Acquired Funds resulting in a larger fund.

There are no proposed changes to the current investment objective, strategies, structure or policies of the Fund as a result of the Reorganizations, including the Fund’s monthly distribution policy. The Fund as it would exist after each Reorganization is referred to as the “Combined Fund.”

Subject to shareholder approval of each Reorganization Agreement by the shareholders of the respective Acquired Fund and of the issuance of Fund common shares by the shareholders of the Fund, each Reorganization Agreement provides for:

It is expected that each Reorganization will occur in the first quarter of 2023.

conducts risk oversight.

The aggregate net asset value (not the market value) of Fund common shares received by the shareholders of each Acquired Fund in the Reorganization would equal the aggregate net asset value (not the market value) of the Acquired Funds common shares held immediately prior to each Reorganization (although shareholders may receive cash for fractional shares). The market value of the common shares of the Fund after the Reorganization may be more or less than the market value of the common shares of the Fund prior to the Reorganization.

The Reorganization of an Acquired Fund is not contingent on the approval of the other Acquired Fund’s shareholders (i.e., a Reorganization of one of the Acquired Funds, if approved by that Acquired Fund’s shareholders, may still proceed if the other Reorganization is not approved by the other Acquired Fund’s shareholders).

At the closing of each Reorganization, each Reorganization Agreement sets forth that the Acquired Fund assets will be valued in accordanceCommunications with the Acquired Fund’s valuation procedures as approved by the Board of the Acquired Fund. Upon the consummation of the Reorganization, the assets transferredTrustees

Shareholders who wish to communicate with Board members with respect to matters relating to the Fund will be valued pursuantFunds may address their written correspondence to the Fund’s valuation proceduresBoards as approved bya whole or to individual Board members c/o abrdn Inc. at 1900 Market Street, Suite 200, Philadelphia, PA 19103, or via e-mail to the Trustee(s) c/o abrdn Inc. at Investor.Relations@abrdn.com.

Trustees Attendance at Annual Meetings of Shareholders

The Funds have not established a policy with respect to Trustee attendance at annual meetings of shareholders.

REPORTS OF THE AUDIT COMMITTEES; INFORMATION REGARDING THE FUNDS' INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

At a meeting held on December 13, 2022, the Board of Trustees of the Fund. The valuation procedures for the Acquired Funds, on the one hand, and theeach Fund, on the other hand, differ in one significant respect.For purposes of determining an Acquired Fund’s net asset value, corporate, sovereign, and convertible fixed income securities are priced at the mean of evaluated bid and asked prices provided by third-party pricing vendors on the valuation date. In contrast, the Fund values such securities at the bid price provided by third-party pricing vendors. If a Reorganization is approved by shareholders, and assuming that each Acquired Fund’s holdings at the closing of the Reorganizations are the same as on July 22, 2022, this difference in valuation procedures will have a negative impact on the value of a shareholder’s investment immediately after the Reorganizations are consummated. For example, assuming the transfer of the Acquired Funds’ portfolio holdings to the Fund, if the Fund’s valuation procedures were used to value the Acquired Funds’ combined corporate, sovereign, and convertible fixed income security holdings as of July 22, 2022 the value of the Combined Fund’s shares is estimated to be reduced by approximately 0.12%.

In addition, for purposes of determining a Fund’s net asset value, in certain circumstances, foreign equity securities that trade on a market that closes prior to the Fund’s valuation time are valued by applying valuation factors to the last quoted sale price. The Acquired Funds and the Fund differ with respect to the circumstances in which such valuation factors are applied. The impact of this difference on the value of a Combined Fund shareholder’s investment immediately after the Reorganizations is consummated is uncertain and could be positive or negative depending on market conditions and could be material.

It is anticipated that approximately 30% of DDF’s holdings and approximately 30% of DEX’s holdings will be sold by such Acquired Fund before the closing of the Reorganization in order to pay back each Acquired Fund’s outstanding leverage. Following the Reorganization, the Combined Fund expects to realign its portfolio in a manner consistent with its investment strategies and policies, which will be the same as the Fund’s strategies and policies. The Combined Fund may not be invested consistent with its investment strategies or AAML’s investment approach while such realignment occurs. The realignment is anticipated to take approximately one week, based on current market conditions and assuming that the Acquired Funds’ holdings are the same as they were on May 31, 2022. Sales and purchases of less liquid securities could take longer. Based on the DDF and DEX holdings as of May 31, 2022, the Combined Fund expects to sell approximately 65% and 68% of each Acquired Fund’s portfolio, respectively, following the closing of the Reorganizations. To the extent there are any transaction costs (including brokerage commissions, transaction charges and related fees) associated with such sales and purchases, these will be borne by the Combined Fund. The portfolio transitioning may result in capital gains or losses, which may have federal income tax consequences for shareholders of the Combined Fund. For example, if the Reorganization of DEX only was completed on May 31, 2022, it is estimated that approximately $5.86 million, or $0.27 per share, in capital losses would have resulted from portfolio transitioning in the Fund following the Reorganization. If the Reorganization of DDF only was completed on May 31, 2022, it is estimated that approximately $6.99 million, or $0.37 per share, in capital gains would have resulted from portfolio transitioning in the Fund following the Reorganization. If both Reorganizations were completed on May 31, 2022, it is estimated that approximately $1.13 million, or $0.04 per share, in capital gains would have resulted from portfolio transitioning in the Fund following the Reorganizations. As of October 31, 2021, AGD has a capital loss carryfoward of $14,214,753 which could be used to offset the gains estimated to be generated from the sales of securities post-merger from DDF.

The actual tax consequences as a result of portfolio repositioning after the closing of a Reorganization is dependent on the portfolio composition of the relevant Acquired Fund at the time of closing and market conditions. Any net capital gain resulting from the realignment coupled with the results of the Fund’s normal operations during the tax year following the close of the Reorganization would be distributed to the shareholder base of the Combined Fund post-Reorganization in connection with the annual distribution requirements under U.S. federal tax laws.

Each Fund is a closed-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). DEX is a Delaware statutory trust and a diversified closed-end management investment company. DDF is a Maryland corporation and a diversified closed-end management investment company. The Fund is a Delaware statutory trust and a diversified closed-end management investment company. The Acquired Funds and the Fund have different investment advisers. Delaware Management Company (“DMC”) is the investment manager of each Acquired Fund. AAML is the investment adviser of the Fund. The Funds have similar investment objectives, principal investment strategies and principal risks, with some differences. The investment objectives, principal investment strategies, principal risks and distribution procedures of the Combined Fund will be the same as those of the Fund.

DEX’s primary investment objective is to seek current income, with a secondary objective of capital appreciation. DDF’s primary investment objective is to seek high current income; capital appreciation is a secondary objective. The Fund’s primary investment objective is to seek high current dividend income, more than 50% of which qualifies for the reduced Federal income tax rates created by the Jobs and Growth Tax Relief Reconciliation Act of 2003. The Fund also focuses on long-term growth of capital as a secondary investment objective.

For federal income tax purposes, each Reorganization is intended to be structured as a tax-free transaction.

Board Considerations

The Board requests that, at the Meeting, shareholders of the Fund approve the issuance of additional common shares of the Fund in connection with the Reorganizations.

At its special telephonic meeting held on August 8, 2022, the Board, including a majority of the Trustees who are not “interested persons”"interested persons," as defined under the 1940 Act, selected KPMG LLP ("KPMG") to act as the independent registered public accounting firm for each Fund for the fiscal year ending October 31, 2023. Representatives from KPMG are not expected to be present at the Meetings to make a statement or respond to questions from shareholders. If requested by any shareholder by two (2) business days before the Meetings, a representative of KPMG will be present by telephone at the Meetings to respond to appropriate questions and will have an opportunity to make a statement if he or she chooses to do so.

Each Fund's financial statements for the fiscal year ended October 31, 2022 were audited by KPMG. The Audit Committee of each Fund has reviewed and discussed the audited financial statements of the Fund as that term is defined inwith management of the 1940 Act (the “Independent Trustees”), approvedFund. The Audit Committee of each Fund has received the issuance of additional common shares in connection with the Reorganizationswritten disclosures and the Reorganization Agreements. In approving the issuance of additional common shares in connectionletter from KPMG required by The Public Company Accounting Oversight Board ("PCAOB") Rule 3526 (PCAOB Rule 1, Communication with the ReorganizationsAudit Committees Concerning Independence), as may be modified or supplemented, and the Reorganization Agreements, the Board determined that the issuance of additional common shares in connectionhave discussed with the Reorganizations is in the best interest of the Fund andKPMG its shareholders. The Board considered a number of factors in reaching its determinations, including, but not limited to, the following:

The Board’s determination to approve the Reorganization Agreements and the issuance of common shares was made on the basis of each Trustee’s business judgment after consideration of all the factors taken as a wholeindependence with respect to the Fund. The Funds know of no direct financial or material indirect financial interest of KPMG in the Funds. The Audit Committees have discussed with KPMG the matters required to be discussed by the applicable requirements of the PCAOB and the SEC. Based on the foregoing review and discussions, the Audit Committee of each Fund recommended to the respective Board that the audited financial statements of each Fund for the fiscal year ended October 31, 2022 be included in each Fund's most recent annual report filed with the SEC.

John Sievwright, Chair of the Audit Committee

Nancy Yao Maasbach, Member of the Audit Committee

P. Gerald Malone, Member of the Audit Committee

The following table sets forth the aggregate fees billed for professional services rendered by KPMG during the Funds' two most recent fiscal years ended October 31:

(1)  "Audit Fees" are the aggregate fees billed for professional services for the audit of the Fund's annual financial statements and services provided in connection with statutory and regulatory filings or engagements.

(2)  "Audit Related Fees" are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under "Audit Fees". These fees include offerings related to the Fund's common shares.

(3)  "Tax Fees" are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: federal and state income tax returns, review of excise tax distribution calculations and federal excise tax return.

(4)  "All Other Fees" are the aggregate fees billed for products and services other than "Audit Fees", "Audit-Related Fees" and "Tax Fees".

All of the services described in the table above were pre-approved by the relevant Audit Committee.

Each Audit Committee is responsible for pre-approving (i) all audit and permissible non-audit services to be provided by the independent registered public accounting firm to each Fund and its shareholders, although individual Trustees may have placed different weight and assigned different degrees of materiality(ii) all permissible non-audit services to various factors.

Information aboutbe provided by the Reorganization

Pursuantindependent registered public accounting firm to each Reorganization Agreement (a form of which is attached as Appendix AFund's Investment Adviser, and any service provider to this Proxy Statement)a Fund controlling, controlled by or under common control with each Fund's Investment Adviser that provided ongoing services to the Fund ("Covered Service Provider"), eachif the engagement relates directly to the operations and financial reporting of the AcquiredFund. The following table shows the amount of fees that KPMG billed during the Funds' last two fiscal years for non-audit services to the Funds, will transferthe Investment Adviser, and a Covered Service Provider:

*  "Non-Audit Fees billed to Fund" for both fiscal years represent "Tax Fees" and "All Other Fees" billed to Funds in their respective amounts from the previous table.

Each Audit Committee has adopted an Audit Committee Charter that provides that the Audit Committee shall annually select, retain or terminate, and recommend to the Independent Trustees and to the Board for their ratification, the selection, retention or termination of, the Fund's independent auditor and, in connection therewith, evaluate the terms of the engagement (including compensation of the auditor) and the qualifications and independence of the independent auditor, including whether the independent auditor provides any consulting, auditing or tax services to the Investment Adviser, and receive the independent auditor's specific representations as to its independence, delineating all relationships between the independent auditor and the Fund, consistent with the Independent Standards Board ("ISB") Standard No. 1. Each Audit Committee Charter also provides that the Committee shall review in advance, and consider approval of, its assetsany and all proposals by Fund management or the Investment Adviser that the Fund, Investment Adviser or their affiliated persons to employ the independent auditor to render "permissible non-audit services" to the Fund and to consider whether such services are consistent with the independent auditor's independence.

Each Audit Committee has considered whether the provision of non-audit services that were rendered to the Investment Adviser and any entity controlling, controlled by, or under common control with any Covered Service Provider that provides ongoing services to the Fund will assume all or substantially all liabilitiesthat were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the independent auditor's independence and has concluded that it is independent.

COMPENSATION

The following table sets forth information regarding compensation of Trustees from the Funds and by the Fund Complex of which the Funds are a part for the fiscal year ended October 31, 2022. All officers of the respective Acquired Fund in exchange solely for newly issued common sharesFunds are employees of and are compensated by abrdn Inc., the Funds' administrator, or an affiliate. None of the Funds' executive officers or Directors who are also officers or directors of abrdn Inc., the Investment Adviser or an affiliate received any compensation from any Fund (although shareholders will receive cash for fractional shares), which will be distributed by the Acquired Funds to their shareholders in the form of a liquidating distribution. Fund common shares issued to the Acquired Funds’ shareholders will have an aggregate net asset value equal to the aggregate net asset valuesuch period. None of the Acquired Funds’ outstanding common shares immediately prior toFunds have any bonus, profit sharing, pension or retirement plans.

*  See the Reorganization. Each shareholder of the Acquired Funds will receive"Trustees" table for the number of funds within the Fund common shares corresponding to his or her proportionate interest in the common sharesComplex that each Trustee services.

Delinquent Section 16(a) Reports

Section 16(a) of the 1934 Act and Section 30(h) of the 1940 Act, as applied to the Funds, require the Funds' officers and Trustees, certain officers and directors of the Investment Adviser, affiliates of the Investment Adviser, and persons who beneficially own more than 10% of the Funds' outstanding securities to electronically file reports of ownership of the Funds' securities and changes in such ownership with the SEC and the NYSE.

Based solely on each Fund's review of such forms filed on EDGAR or written representations from reporting persons that all reportable transactions were reported, to the knowledge of each Fund, during the fiscal year ended October 31, 2022, each Fund's officers, Trustees and greater than 10% owners timely filed all reports they were required to file under Section 16(a), except that: (i) Robert Hepp and Andrew Kim each filed a late Form 3 filing following their respective Acquiredappointments as Vice Presidents of the Funds; and (ii) Grant Hotson and Neil Slater each filed a late Form 3 filing following their respective appointments as directors of the Investment Adviser.

Relationship of Trustees or Nominees with the Investment Adviser

abrdn Investments Limited serves as the Investment Adviser to each Fund (although cash may be issued lieu of fractional shares). The Reorganization, together with related acts necessary to consummate the same, is anticipated to occur in the first quarter of 2023 (the “Closing Date”) As soon as practicable after the Closing Date, each Acquired Fund will dissolve pursuant to individual advisory agreements dated May 4, 2018. The Investment Adviser with its registered office at 10 Queen's Terrace, Aberdeen, Scotland AB10 1XL, is a corporation organized under the laws of its respective state of organization.Scotland and a U.S. registered investment adviser. The Investment Adviser provides equity, fixed income and real estate advisory services, as well as alternative strategies.

The distribution of Fund common sharesabrdn Inc. serves as Sub-Adviser to AWP pursuant to a sub-advisory agreement dated May 4, 2018 and Administrator to the Acquired Funds’ shareholders will be accomplished by,Funds pursuant to the extent that shareholders do not have accounts on the books of the Fund, opening new accounts on the books of the Fund in the names of the shareholders of the Acquired Funds, and transferring to those shareholder accounts Fund common shares. Each newly-opened account on the books of the Fund for the former shareholders of the Acquired Funds will represent the respective pro rata number of Fund common shares due to such shareholder.

Outstanding Shares

As of the Record Date, the Fund had 12,549,582 common shares outstanding.

Board Recommendation

The Board recommends that shareholders of the Fund vote “FOR” the Proposal.

TERMS OF THE REORGANIZATION AGREEMENTS

The followingan administration agreement dated May 4, 2018. abrdn Inc. is a summary of the significant terms of the Reorganization Agreements.Delaware corporation with its principal business office located at 1900 Market Street, Suite 200, Philadelphia, Pennsylvania 19103. The below discussion applies to the Reorganization Agreements pertaining to DEX and DDF, respectively. A form of Reorganization Agreement is attached as Appendix A to the Proxy Statement.

Calculation of Number of Fund Shares

As of the Effective Time, each Acquired Fund share outstanding immediately prior to the Effective Time shall be converted into Fund shares in an amount equal to the ratio of the net asset value per share of the respective Acquired Fund to the net asset value per share of the Fund. Cash may be issued in lieu of fractional shares. In the event Acquired Fund shareholders would be entitled to receive fractional Fund shares, the Fund’s transfer agent will aggregate such fractional shares and sell the resulting whole shares on the exchange on which such shares are listed for the account of all such Acquired Fund shareholders, and each such Acquired Fund shareholder will be entitled to a pro rata share of the proceeds from such sale. With respect to the aggregation and sale of fractional Fund shares, the Fund’s transfer agent will act directly on behalf of the Acquired Funds shareholders entitled to receive fractional shares and will accumulate such fractional shares, sell the shares and distribute the cash proceeds net of brokerage commissions, if any, directly to Acquired Funds shareholders entitled to receive the fractional shares (without interest and subject to withholding taxes).

Conditions

Under the terms of each Reorganization Agreement, the Reorganizations are conditioned upon, among other things, approval of the Proposal by shareholders of the respective Acquired Funds and each Fund’s receipt of certain routine certificates and legal opinions.

Termination

Each Reorganization Agreement may be terminated (i) by mutual agreement of the parties at any time prior to the Effective Time, if circumstances should develop that, in the opinion of such Board of the Fund and the Board of an Acquired Fund, make proceeding with a Reorganization Agreement inadvisable;(ii) if one party breaches any representation, warranty or agreement contained in the Reorganization Agreements to be performed at or before the Closing Date and it is not cured within 30 days after being provided notice by the non-breaching party; or (iii) if the Agreement referred to in “AGREEMENT BETWEEN DMC AND ABRDN INC.” below is validly terminated.

Expenses of the Reorganizations

AAMLInvestment Adviser and abrdn Inc. and their affiliates and DMC andare each indirect subsidiaries of abrdn plc (formerly Standard Life Aberdeen plc), which has its affiliates will bear expenses incurred in connection with the Reorganizations, whether or notregistered offices at 1 George Street, Edinburgh, EH2 2LL, Scotland. Mr. Stephen Bird, a Reorganization is consummated. The expensesTrustee of the ReorganizationsFunds, served as Chief Executive Officer of abrdn plc during the year ended October 31, 2022. Mr. Bird is also a shareholder of abrdn plc. Messrs. Andolina, Demetriou and Goodson and Mmes. Kennedy and Sitar, who serve as officers of the Funds, are estimatedalso directors and/or officers of abrdn Inc. or the Investment Adviser.

In rendering investment advisory services, abrdn Inc. and the Investment Adviser may use the resources of investment advisor subsidiaries of abrdn plc. These affiliates have entered into a memorandum of understanding/personnel sharing procedures pursuant to be $865,000. Towhich investment professionals from each affiliate may render portfolio management and research services to US clients of the extent there are any transaction costs (including brokerage commissions, transaction charges and related fees)abrdn plc affiliates, including the Funds, as associated withpersons of the sales and purchases made in connection with the Reorganizations, these will be borneInvestment Adviser. No remuneration is paid by the applicable Acquired FundFunds with respect to the portfolio transitioning conducted before the Reorganizations and borne by the Combined Fund with respect to the portfolio transitioning conducted after the Reorganizations.memorandum of understanding/personnel sharing arrangements.

COMPARISON OF THE FUND AND THE COMBINED FUND

The Combined Fund will be managed by AAML, the Fund’s current adviser. Furthermore, the Fund’s current portfolio management team will be primarily responsible for the day-to-day management of the Combined Fund’s portfolio. Additionally, the investment objectives, principal investment strategies, principal risks and distribution procedures of the Combined Fund will be the same as those of the Fund.

Fees and Expenses

Below is a comparison of the fees and expenses of the Fund before and after the Reorganizations based on the expenses for the fiscal period ended April 30, 2022. Pro forma Combined Fund fees and expenses are estimated in good faith and are hypothetical.

Future fees and expenses may be greater or lesser than those indicated below.

Expense Example

The following example illustrates the expenses that a shareholder would pay on a $1,000 investment that is held for the time periods provided in the table. The example set forth below assumes shares of the Fund were owned as of the completion of each Reorganization and uses a 5% annual rate of return as mandated by SEC regulations.*

* The example should not be considered a representation of future expenses or rate of return and actual Combined Fund expenses may be greater or less than those shown. The example assumes that (i) all dividends and other distributions are reinvested at NAV, (ii) the percentage amounts listed under “Total annual expenses” above remain the same in the years shown and (iii) the expense reimbursement agreement for the Combined Fund is only in effect until a year from the date of the closings of the Reorganizations or June 30, 2024, whichever is later, as described in note (5) above.

Leverage

The Fund currently uses leverage to a moderate extent, in any event, in an amount not to exceed 10% of its total assets. The Fund will use leverage, for investment purposes only when AAML believes that the potential return on additional investments acquired with the proceeds of leverage is likely to exceed the costs incurred in connection with the borrowings. Depending on market conditions, the Fund’s portfolio management team may choose not to use any leverage. Although the use of leverage by a Fund may create an opportunity for increased after-tax total return for the common shares, it also increases market exposure, results in additional risks and can magnify the effect of any losses.

The Fund’s strategies relating to its use of leverage may not be successful, and the Fund’s use of leverage will cause the Fund’s NAV to be more volatile than it would otherwise be. There can be no guarantee that the Fund will leverage its assets or, to the extent the Fund utilizes leverage, what percentage of its assets such leverage will represent.

The Combined Fund anticipates using leverage similarly to the Fund’s use thereof.

As of April 30, 2022, the Fund had aggregate leverage from borrowings as a percentage of its total assets of 4.7%.

If the Reorganization(s) had occurred on April 30, 2022, the leverage ratio for the Combined Fund would have been as follows:

Accounting and Valuation Policies, Impact to the Combined Fund’s NAV

For purposes of determining an Acquired Fund’s net asset value, corporate, sovereign, and convertible fixed income securities are priced at the mean of evaluated bid and asked prices provided by third-party pricing vendors on the valuation date. In contrast, the Fund values such securities at the bid price provided by third-party pricing vendors. If a Reorganization is approved by shareholders, and assuming that each Acquired Fund’s holdings at the closing of the Reorganizations are the same as they were on July 22, 2022, this difference in valuation procedures will have a negative impact on the value of a shareholder’s investment immediately after the Reorganizations are consummated. For example, assuming the transfer of the Acquired Funds’ portfolio holdings to the Fund, if the Fund’s valuation procedures were used to value the Acquired Funds’ combined corporate, sovereign, and convertible fixed income security holdings as of July 22, 2022 the value of the Combined Fund’s shares is estimated to be reduced by approximately 0.12%.

In addition, for purposes of determining a Fund’s net asset value, in certain circumstances, foreign equity securities that trade on a market that closes prior to the Fund’s valuation time are valued by applying valuation factors to the last quoted sale price. The Acquired Funds and the Fund differ with respect to the circumstances in which such valuation factors are applied. The impact of this difference on the value of a Combined Fund's shareholder’s investment immediately after the Reorganizations are consummated is uncertain and could be positive or negative depending on market conditions and could be material.

ADDITIONAL INFORMATION ABOUT THE COMMON SHARES OF THE FUND

Description of Common Shares to be Issued by the Fund

Shareholders of the Combined Fund will have the same rights as they did as shareholders to the Fund.

The Fund’s Agreement and Declaration of Trust authorizes the Fund to issue an unlimited number of shares, no par value per share. If the Reorganizations are consummated, the Fund will issue common shares to the shareholders of common stock of the Acquired Funds based on the relative per share net asset value of the Fund and the net asset value of the assets of the respective Acquired Funds, in each case as of the date of the Reorganizations. Fund common shares have equal rights with respect to the payment of dividends and the distribution of assets upon dissolution, liquidation or winding up of the affairs of the Fund. The Fund’s common shares, when issued, will be fully paid and non-assessable and have no preemptive, conversion or exchange rights or rights to cumulative voting.

Capitalization

The tables below set forth the capitalization of each Acquired Fund and the Fund as of August 31, 2022, and the pro forma capitalization of the Combined Fund as if the Reorganizations had occurred on that date. As shown below, it is anticipated that the NAV of Fund shareholders’ shares would decrease due to the valuation differences described in this Proxy Statement and Fund assets would increase. Please see “Accounting and Valuation Policies, Impact to the Combined Fund’s NAV” for additional information.

DEX into the Fund only

DDF into the Fund only

DEX and DDF into the Fund

THE FUND’SEACH FUND'S BOARD, INCLUDING THE INDEPENDENT TRUSTEES, RECOMMENDS THAT THE SHAREHOLDERS VOTE “FOR”"FOR" THE PROPOSAL.

voting information and requirements

Quorum

A quorum is constituted by the presence in person or by proxy of shareholders representing a majority of the outstanding shares of the Fund.

Broker Non-Votes and Abstentions

Broker non-votes occur when a beneficial owner of shares held in “street name” does not give instructions to the broker holding the shares as to how to vote on matters deemed “non-routine.” Generally, if shares are held in street name, the beneficial owner of the shares is entitled to give voting instructions to the broker holding the shares. If the beneficial owner does not provide voting instructions, the broker can still vote the shares with respect to matters that are considered to be “routine,” but cannot vote the shares with respect to “non-routine” matters. The Proposal is considered “non-routine,” so brokers will not have discretionary voting power with respect to the Proposal, and the Acquired Fund does not expect to receive any broker non-votes.

Abstentions will be included for purposes of determining whether a quorum is present but not be treated as votes cast. Therefore, abstentions will have the same effect as votes “AGAINST” the Proposal.

Adjournments

NOMINEES.

If quorum is not present at the Meeting, the chair of the Meeting shall have the power to adjourn the Meeting without further notice other than announcement at the Meeting to a date not more than 130 days after the Record Date. At such adjourned meeting at which a quorum shall be present, any business may be transacted which might have been transacted at the meeting as originally notified.ADDITIONAL INFORMATION

Appraisal Rights

Shareholders do not have dissenters’ rights of appraisal in connection with the Proposal.

Vote Required for the Proposal

The Proposal requires the affirmative vote of a majority of shares present in person or represented by proxy and entitled to vote.

INVESTMENT ADVISER, INVESTMENT SUB-ADVISER, ADMINISTRATOR AND SUB-ADMINISTRATOR

AAML, located at 1900 Market Street, Suite 200, Philadelphia, PA 19103, serves as the investment adviser for the Fund. abrdn Inc. serves as administrator to the Fund.Sub-Administrator. State Street Bank & Trust Company, located at 1 Heritage Drive, 3rd Floor, North Quincy, MA 02171, serves as sub-administratoradministrator to the Fund.Funds.

AGREEMENT BETWEEN DMC AND ABRDN INC.

Delaware Management Company (“DMC”)Expenses. The expense of preparation, printing and abrdn Inc. have entered into a separate agreement (the “Purchase Agreement”) pursuant to which abrdn Inc.mailing of the enclosed proxy card and accompanying Notice and Joint Proxy Statement will acquire certain assets related to DMC’s business of providing investment management services with respectbe borne proportionately by each Fund. Each Fund will reimburse banks, brokers and others for their reasonable expenses in forwarding proxy solicitation material to the assetsbeneficial owners

of the shares of each Acquired FundFund. In order to obtain the necessary quorum at each Meeting, supplementary solicitation may be made by mail, telephone, telegraph or personal interview. Such solicitation may be conducted by, among others, officers, Trustees and certain other registered investment companies (the “Business”) if the Reorganizations are approved, and satisfaction or waiver of certain other conditions. More specifically, under the Purchase Agreement, DMC has agreed to transfer to abrdn Inc., for a cash payment at the closingemployees of the Asset Transfer (as defined below) and subject to certain exceptions, (i) all right, title and interest of DMC in and toFunds, the books and records relating to the Business; (ii) all records required to be maintained to substantiate the track record of the Business; and (iii) all goodwill of the Business as a going concern. Such transfers hereinafter are referred to collectively as the “Asset Transfer.”

Section 15(f) of the 1940 Act is a non-exclusive safe harbor provision that permits an investment adviser of a registered investment company (or any affiliated persons of the investment adviser) to receive any amount or benefit in connection with a sale of securities of, or a sale of any other interest in, the investment adviser that results in an “assignment” (as defined in the 1940 Act) of an investment advisory contract with such registered investment company, provided that two conditions are satisfied. First, during the three-year period after such transaction, at least 75% of the members of the investment company’s board of directors/trustees may not be “interested persons” (as defined in the 1940 Act) of the investment adviser or its predecessor. Second, an “unfair burden,” as that term is described in Section 15(f), must not be imposed on such registered investment company as a result of such transaction or any express or implied terms, conditions, or understandings relating to such transaction during the two-year period after the date on which any such transaction occurs. The term “unfair burden,” as defined in the 1940 Act, includes any arrangement during the two-year period after the sale whereby the investment adviser (or predecessor or successor adviser), or any “interested person” of the adviser (as defined in the 1940 Act), receives or is entitled to receive any compensation, directly or indirectly, from the investment company or its security holders (other than fees for bona fide investment advisory or other services), or from any person in connection with the purchase or sale of securities or other property to, from or on behalf of the investment company (other than ordinary fees for bona fide principal underwriting services).

DMC intends to qualify for the “safe harbor” provided by Section 15(f), and consequently: (i) for a period of three years after the Closing Date, at least 75% of the trustees of the Combined Fund will not be “interested persons” (as defined in the 1940 Act) of AAML,Investment Adviser, abrdn Inc. or DMC, and (ii) for a period of two years after the Closing Date, no “unfair burden” as defined in the 1940 Act will be imposed on the Combined Fund as a result of the Reorganizations or any express or implied terms, conditions, or understandings applicable thereto.

SHAREHOLDER INFORMATION

As of August 11, 2022, to the Fund’s knowledge, no single shareholder or “group” (as that term is used in Section 13(d) of the Exchange Act) beneficially owned more than 5% of the Fund’s outstanding common shares, except as described in the following tables. A control person is one who owns, either directly or indirectly, more than 25% of the voting securities of a Fund or acknowledges the existence of control. A party that controls a Fund may be able to significantly affect the outcome of any item presented to shareholders for approval. Information as to beneficial ownership of common shares, including percentage of common shares beneficially owned, is based on, among other things, reports filed with the SEC by such holders.

⁽¹⁾ Based solely upon information presented in a Schedule 13G/A filed July 11, 2022, jointly by The Charger Corporation, First Trust Portfolios L.P. and First Trust Advisors L.P.

⁽²⁾ Based solely upon information presented in a Schedule 13G filed May 10, 2022, by Advisors Asset Management, Inc.

Security Ownership of Management

As of August 11, 2022, the officers and Trustees of the Fund, in the aggregate, owned less than 1% of the outstanding shares of the Fund.

ADDITIONAL INFORMATION

Solicitation and Voting of Proxies

its affiliates.

AST Fund Solutions, LLC (“AST”("AST") has been retained to assist in the solicitation of proxies and will receive an estimated fee of $10,000 to $40,000$2,500 per Fund and be reimbursed for its reasonable expenses. Total payments for the Fund to ASTexpenses, which are expectedestimated to be between approximately $20,000$500-$1,000 for AOD, $500-$750 for AGD and $50,000 .The Fund will not pay these costs.$500-$1,000 for AWP.

Solicitation and Voting of Proxies.Solicitation of proxies is being made primarily by the mailing of this Joint Proxy Statement with its enclosures on or about September 23, 2022.April 15, 2023. As mentioned above, AST has been engaged to assist in the solicitation of proxies. As the date of the Meeting approaches,Meetings approach, certain shareholders of thea Fund may receive a call from a representative of AST, if the Fund has not yet received their vote. Authorization to permit AST to execute proxies may be obtained by telephonic instructions from shareholders of thea Fund. Proxies that are obtained telephonically will be recorded in accordance with procedures that management of each of the FundFunds believes are reasonably designed to ensure that the identity of the shareholder casting the vote is accurately determined and that the voting instructions of the shareholder are accurately determined.

Independent Registered Public Accounting Firm

KPMG LLP (“KPMG”) actsBeneficial Owners. Based upon filings made with the SEC, as of December 31, 2022, the independent registered public accounting firmfollowing table shows certain information concerning persons who may be deemed beneficial owners of 5% or more of the shares of the Funds because they possessed or shared voting or investment power with respect to a Fund's shares:

*  These entities jointly filed a Schedule 13G for the Fundshare amount and percentage shown.

**  These entities jointly filed a Schedule 13G for the current fiscal yearshare amount and the fiscal year ended October 31, 2021. Although it is not expected that a representative of KPMG will attend the Meeting, a representative will be available by telephone to make a statement to the shareholders, if the representative wishes to do so, and to respond to shareholder questions, if any.percentage shown.

Shareholder Proposals

Proposals.

Any Rule 14a-8 shareholder proposal to be considered for inclusion in the Fund'sFunds' proxy statement and form of proxy for the annual meetingmeetings of shareholders to be held in 20232024 should be received by the Secretary of the FundFunds no later than November 24, 2022.December 17, 2023. There are additional requirements regarding proposals of shareholders, and a shareholder contemplating submission of a proposal for inclusion in the Fund'sFunds' proxy materials is referred to Rule 14a-8 under the 1934 Act.

Non-Rule 14a-8 proposals of business to be considered by the Fund’sFunds' shareholders may be made at an annual meeting of shareholders (1) by or at the direction of the BoardBoards of Trustees or (2) by any shareholder of thea Fund who was a shareholder of record from the time the shareholder gave notice as provided in the Fund’sFunds' By-Laws to the time of the annual meeting, who is entitled to vote at the annual meeting on any such business and who has complied with the By-Laws. Pursuant to theeach Fund's By-Laws, for any such business to be properly brought before an annual meeting by a shareholder, the shareholder must have given timely notice thereof in writing to the Secretary of the FundFunds and such business must otherwise be a proper matter for action by the shareholders. To be timely, a shareholder's notice shall set forth all information required under thea Fund's By-Laws and shall be delivered to the Secretary of the Fund at the principal executive office of the Fund neither earlier than 9:00 a.m., Eastern Time, on the 150th day nor later than 5:00 p.m., Eastern Time, on the 120th day before the first anniversary of the date of the proxy statement for the preceding year's annual meeting; provided, however, that in the event the date of the annual meeting is advanced or delayed by more than 30 days from the first anniversary of the date of the preceding year's annual meeting, or in the event that no annual meeting was held the preceding year, notice by the shareholder will be timely if so delivered not later than 5:00 p.m., Eastern Time, on the tenth day following the day on which public announcement of the date of such annual meeting is first made. Themade; the public announcement of a postponement or adjournment of an annual meeting shall not commence a new time period for the giving of a shareholder's notice as described above.

In accordance with Rule 14a-4(c), each Fund may exercise discretionary voting authority with respect to any shareholder proposals for thisthe Annual MeetingMeetings not included in the proxy statement and form of proxy card which are not submitted to the Fund within the time-frame indicated above. Even if timely notice is received, the Fund may exercise discretionary voting authority in certain other circumstances permitted by Rule 14a-4(c) and SEC guidance related thereto. Discretionary voting authority is the ability to vote proxies that shareholders have executed and returned to a Fund on matters not specifically reflected on the form of proxy card.

In accordance with Rule 14a-4(c), each Fund may exercise discretionary voting authority with respect to any shareholder proposals for this Annual Meeting not included in the proxy statement and form of proxy card which are not submitted to the FundFunds within the time-frame indicated above. Even if timely notice is received, a Fund may exercise discretionary voting authority in certain other circumstances permitted by Rule 14a-4(c) and SEC guidance related thereto. Discretionary voting authority is the ability to vote proxies that shareholders have executed and returned to a Fund on matters not specifically reflected on the form of proxy card.

SHAREHOLDERS WHO DO NOT EXPECT TO ATTEND THE MEETINGS AND WHO WISH TO HAVE THEIR SHARES VOTED ARE REQUESTED TO DATE AND SIGN THE ENCLOSED PROXY CARD(S) AND RETURN THEM IN THE ENCLOSED ENVELOPE. NO POSTAGE IS REQUIRED IF MAILED IN THE UNITED STATES.

Delivery of Joint Proxy Statement

Unless the Fund hasFunds have received contrary instructions from shareholders, only one copy of this Joint Proxy Statement may be mailed to households, even if more than one person in a household is a shareholder of record. If a shareholder needs an additional copy of this Joint Proxy Statement, please contact the FundFunds at 1-800-522-5465. If any shareholder does not want the mailing of this Joint Proxy Statement to be combined with those for other members of its household, please contact the FundFunds in writing at: 1900 Market Street, Suite 200, Philadelphia, PennsylvaniaPA 19103 or call the FundFunds at 1-800-522-5465.

Trustees Attendance at Annual Meetings of Shareholders

Other Business

The Fund has not established a formal policy with respect to Trustee attendance at annual meetings of shareholders.

Communications with the Board of Trustees

Shareholders who wish to communicate with Board members with respect to matters relating to the Fund may address their written correspondence to the Board as a whole or to individual Board members c/o abrdn Inc., the Fund’s administrator, at 1900 Market Street, Suite 200, Philadelphia, PA 19103, or via e-mail to the Trustee(s) c/o abrdn Inc. at Investor.Relations@abrdn.com.

Incorporation by reference

The documents listed below are incorporated by reference into this Proxy Statement and deemed to be part of this Proxy Statement:

Additionally, copies of the foregoing and any more recent reports filed after the date hereof may be obtained without charge:

Other Business

AAMLInvestment Adviser knows of no business to be presented at the Meeting,Meetings, other than the ProposalProposals set forth in this Joint Proxy Statement, but should any other matter requiring the vote of shareholders arise, the proxies will vote thereon according to their discretion.

SHAREHOLDERS WHO DO NOT EXPECT TO VIRTUALLY ATTEND THE MEETING AND WHO WISH TO HAVE THEIR SHARES VOTED ARE REQUESTED TO DATE AND SIGN THE ENCLOSED PROXY CARD AND RETURN IT IN THE ENCLOSED ENVELOPE. NO POSTAGE IS REQUIRED IF MAILED IN THE UNITED STATES.

By order of the BoardBoards of Trustees,

Megan Kennedy, Vice President and Secretary

abrdn Global Dynamic Dividend Fund

APPENDIX A

FORM OF AGREEMENT AND PLAN OF REORGANIZATION

THIS AGREEMENT AND PLAN OF REORGANIZATION (the “Agreement”) is made as of [    ], 2023, by and between abrdn GlobalTotal Dynamic Dividend Fund a Delaware statutory trust (the “Acquiring Fund”), and [ ], a [ ] (the “Acquired Fund” and, together with the Acquiring

abrdn Global Premier Properties Fund the “Funds”). [Delaware Management Company, a series of Macquarie Investment Management Business Trust, a Delaware statutory trust, joins this Agreement solely for purposes of paragraphs 8.2, 11.1, 11.2 and 11.3 and abrdn Inc., a Delaware corporation registered under the Investment Advisers Act of 1940, joins this Agreement solely for purposes of paragraphs 5.12, 8.2, 11.1, 11.2 and 11.3.]

The reorganization will consist of the transfer of all of the Assets (as defined in paragraph 1.2) of the Acquired Fund to the Acquiring Fund in exchange solely for newly issued common shares of beneficial interest of the Acquiring Fund, no par value per share (the “Acquiring Fund Shares”), the assumption by the Acquiring Fund of Liabilities (as defined in paragraph 1.3) of the Acquired Fund, and the distribution of the Acquiring Fund Shares to the shareholders of the Acquired Fund in exchange for all outstanding Acquired Fund Shares (as defined below) and in complete liquidation of the Acquired Fund, all upon the terms and conditions hereinafter set forth in this Agreement (the “Reorganization”).

WHEREAS, the Acquiring Fund and the Acquired Fund are each registered closed-end management investment companies, and the Acquired Fund owns securities which are assets of the character in which the Acquiring Fund is permitted to invest; and

WHEREAS, the Acquired Fund is authorized to issue its shares of capital stock and the Acquiring Fund is authorized to issue its shares of beneficial interest; and

WHEREAS, the Board of Trustees of the Acquiring Fund and of the Board of Directors of the Acquired Fund have authorized and approved the Reorganization; and

WHEREAS, each of Delaware Management Company, a series of Macquarie Investment Management Business Trust, a Delaware statutory trust and the investment adviser to the Acquired Fund (“Seller”) and abrdn Inc. (“Purchaser”), have entered into a purchase agreement (the “Purchase Agreement”) pursuant to which Purchaser agreed to acquire, and Seller agreed to sell, certain assets relating to the Seller’s business with respect to the Acquired Fund; and

WHEREAS, it is intended that, for United States federal income tax purposes, (i) the transactions contemplated by this Agreement shall qualify as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) that the Agreement shall constitute a “plan of reorganization” for purposes of the Code;

NOW, THEREFORE, in consideration of the premises and of the covenants and agreements hereinafter set forth, intending to be legally bound hereby, the parties hereto covenant and agree as follows: