1. Objective

    The International Equity Fund seeks capital appreciation.

  2. Investment Proposition

    The aim of the ACWI ex US Alpha Process is to produce good long-term performance by combining the specialized local knowledge of our investment teams with the experience of our most senior investors. We build the portfolio bottom up, stock by stock, without regard to the composition of the benchmark. We are aware that such an approach can lead to unconscious concentrations of risk and so we consider underlying portfolio exposures on a regular basis to ensure that the fundamental drivers of the portfolio companies are appropriately diversified.

  3. Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.  Please click here for the most recent month-end performance.

    The Baillie Gifford Fund's performance shown assumes reinvestment or dividend and capital gain distributions and is net of management fees and expenses. Returns for periods less than one year are not annualized. From time to time, certain fees and/or expenses have been voluntarily or contractually waived 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 of 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 06/30/2018
    Ticker - Share Class K BGIKX
    Ticker - Share Class Institutional BINSX
    Launch Date November 01, 2000
    Size $2,011.2m
    Benchmark MSCI AC World ex US Index
    Current Number of Stocks 78
    Active Share 89%*
    Annual Turnover 19%
    Style Growth
    Stocks (guideline range) 70-110

    *Relative to MSCI AC World ex US Index. Source: Baillie Gifford & Co and relevant underlying index provider(s).

    For a full glossary of definitions, please click here
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    Baillie Gifford are long-term investors, not speculators. We are not interested in following fads and fashions or pursuing short-term performance.
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    Portfolio Characteristics

      Fund MSCI AC World ex US Index
    Market Cap (weighted average) $58.44bn $69.56bn
    Price/Book 2.85 1.61
    Price/Earnings (12 months forward) 17.18 12.98
    Earnings Growth (5 year historic) 8.57% 3.18%
    Return on Equity 16.60% 12.42%
    Beta 1.01 n/a
    Standard Deviation (trailing 3 years) 13.01% 12.02%

    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 0.52% 0.52%
    Other Expenses 0.11% 0.10%
    Gross Expense Ratio 0.63% 0.62%
    Net Expense Ratio 0.63% 0.62%

    Source: Bank of New York Mellon and Baillie Gifford & Co

     

    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.

  9. Fund Risks

    The most significant risks of an investment in The International Equity Fund are Asia Risk, 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-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.