1. Objective

    The International Concentrated Growth Fund seeks capital appreciation.

  2. Investment Proposition

    The International Concentrated Growth fund invests in exceptional growth companies operating in international markets. We invest with a 10-year investment horizon which we believe differentiates us from the market and allows us to benefit from the power of compound returns. We run a concentrated portfolio to avoid diluting the growth stocks in which we have the highest conviction.

  3. From time to time, certain fees and/or expenses have been voluntarily or contractually waved or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board or Trustees may modify or terminate contractual fee waivers or expense reimbursements. All fees are described in the fund's prospectus.

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    Fund Facts

    All figures to 12/31/2017
    Ticker - Share Class Institutional BTLSX
    Ticker - Share Class K BTLKX
    Launch Date December 14, 2017
    Size $1.0m
    Benchmark MSCI AC World ex US Index
    Current Number of Stocks 24
    Active Share 95%*
    Annual Turnover
    Style Growth
    Stocks (guideline range) 20-35

    Source: Baillie Gifford & Co and relevant underlying index provider(s).

     

    For a full glossary of definitions, please click here
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    From Edinburgh, our research covers the globe. We set no barriers to the imagination of our investors, encouraging fresh perspectives and the use of diverse sources of information.
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    Portfolio Characteristics

      Fund MSCI AC World ex US Index
    Market Cap (weighted average) $149.07bn $72.79bn
    Price/Book 6.07 1.92
    Price/Earnings (12 months forward) 34.76 14.11
    Earnings Growth (5 year historic) 12.06% 1.52%
    Return on Equity 17.47% 13.59%
    Beta 1.07 n/a

    Source: Baillie Gifford & Co, UBS, StatPro and relevant underlying index provider(s).

    Beta is in comparison to MSCI AC World ex US Index.

    For a full glossary of definitions, please click here
  7. Meet the Managers

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    Charges

      K Institutional
    Management Fee 0.57% 0.57%
    Other Expenses 0.56% 0.71%
    Gross Expense Ratio 1.13% 1.28%
    Net Expense Ratio 0.72% 0.87%

     

    Expense Ratios: All mutual funds have expense ratios which represent what shareholders pay for operating expenses and management fees. Expense ratios are expressed as an annualized percentage of a fund's average net assets paid out in expenses. Expense ratio information is as of the Fund's current prospectus, as revised and supplemented from time to time. The net expense ratios for this fund are contractually capped, excluding interest expense (if any), through April 30, 2019.

  9. Fund Risks

    The most significant risks of an investment in The International Concentrated Growth Fund are Currency and Currency Hedging Risk, Emerging Markets Risk, Equity Securities Risk, Focused Investment Risk, Growth Stock Risk, Information Technology Risk, IPO Risk, Large-Capitalization Securities Risk, Liquidity Risk, Long-Term Investment Strategy Risk, Market Disruption and Geopolitical Risk, Market Risk, Non-Diversification Risk,  Non-U.S. Investment Risk, Service Provider Risk, Settlement Risk and Small- and Medium-Capitalization Securities Risk. For more information about these and other risks of an investment in the Fund, see “Principal Investment Risks” and “Additional Investment Strategies” in the prospectus.

  10. Index Disclaimer

    Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an ‘as is’ basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the ‘MSCI Parties’) expressly disclaims all warranties (including, without limitation, any warranties or originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages (www.msci.com)

  11. The Baillie Gifford Mutual Funds are distributed by Baillie Gifford Funds Services LLC. Investors should carefully consider the objectives, risks, charges and expenses of the Funds before investing. This information and other information about the Funds can be found in the prospectus and the summary prospectus. For a prospectus and summary prospectus please go here. Please carefully read the Fund’s prospectus and related documents before investing.