1. Objective

    The Baillie Gifford Emerging Markets Equities Fund seeks capital appreciation.

  2. Investment Proposition

    We invest with a long-term (3-5 year) perspective, and have a strong preference for growth. We are looking for significant upside in each stock that we invest in. The process is driven by rigorous, fundamental analysis undertaken by our dedicated Emerging Markets team. The Emerging Markets team draws on this analysis, as well as insights gleaned from discussion with all of Baillie Gifford’s global investors, to produce a portfolio that typically holds 60–100 stocks.

  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 12/31/2019
    Ticker - Share Class K BGKEX
    Ticker - Share Class Institutional BGEGX
    Launch Date April 4, 2003
    Size $3,788.7m
    Benchmark MSCI Emerging Markets Index
    Current Number of Stocks 68
    Active Share 67%*
    Annual Turnover 15%
    Style Growth
    Stocks (guideline range) 60-100

    *Relative to MSCI Emerging Markets Index. 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 Emerging Markets Index
    Market Cap (weighted average) $146.27bn $115.30bn
    Price/Book 2.19 1.70
    Price/Earnings (12 months forward) 13.50 12.88
    Earnings Growth (5 year historic) 2.19% 3.97%
    Return on Equity 16.18% 13.16%
    Beta 1.11 n/a
    Standard Deviation (trailing 3 years) 16.02% 14.18%

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

    Beta is in comparison to MSCI Emerging Markets Index.

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

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      K Institutional
    Management Fee 0.72% 0.72%
    Other Expenses 0.12% 0.23%
    Gross Expense Ratio 0.84% 0.95%
    Net Expense Ratio 0.84% 0.95%

    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.

  10. Fund Risks

    The most significant risks of an investment in The Baillie Gifford Emerging Markets Equities Fund are Investment Style Risk, Growth Stock Risk, Long-Term Investment Strategy Risk, Geographic Focus Risk, Emerging Markets Risk, Asia Risk, Conflicts of Interest Risk, China Risk, Currency and Currency Hedging Risk, Equity Securities Risk, Focused Investment Risk, Frontier Markets Risk, Information Technology Risk, IPO Risk, Large Capitalization Securities Risk, Liquidity Risk, Market Disruption and Geopolitical Risk, Market Risk, Non-U.S. Investment Risk, Service Provider Risk, Settlement Risk, Small-and Medium-Capitalization Securities Risk.

  11. 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).

  12. 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.