Baillie Gifford Sustainable Growth Fund P Accumulation

Fund objective

The Fund aims to outperform (after deduction of costs) the MSCI ACWI Index, as stated in sterling, by at least 2% per annum over rolling fiveyear periods by investing (at least 70%) in companies covering a broad range of sustainability topics but whose products or services are creating value for society by addressing significant global challenges. In order to be considered as addressing a 'significant global challenge', a company's products or services must be aligned with one or more of the following headline themes: 1) People (the welfare of people), sub-themes may include: enhancing access to healthcare, extending healthy life expectancy; deepening financial inclusion; and delivering essential infrastructure (clean water and sanitation, developing reliable and sustainable infrastructure to support economic development and human wellbeing); 2) Planet (the condition of the planet), sub-themes may include: doing more with less; preserving natural capital; and mitigating and adapting to climate change; and 3) Prosperity (broadening prosperity across society), sub-themes may include: lowering barriers to entrepreneurship; supply chains with integrity; and providing fair and decent work. These headline themes and sub-themes align with the United Nations Sustainable Development Goals ("UN SDGs") which serve as a universal blueprint for achieving peace and prosperity for society and the environment. To ensure a company's products or services are meeting the sustainability objective, the Investment Adviser will assess either the revenue or profits derived from the company's products or services. Policy The Fund will invest at least 70% in shares of companies anywhere in the world and of any size and in any sector which, provided the Investment Adviser considers such companies are addressing significant global challenges. To meet the sustainability objective, at least 70% of the Fund's assets meet the 'Standard of Sustainability'. A company must demonstrate that a minimum of 30% of either its revenues or profits are derived from products or services that are aligned with a significant global challenge. Revenue-based screens are applied that exclude companies with a defined level of activity in certain sectors, details of which are disclosed in the Prospectus. The Fund will comply with the Investment Adviser's policy on assessing breaches of the United Nations Global Compact as outlined in its ESG Principles and Guidelines document. The Investment Adviser applies its proprietary Alignment Assessment to (a) exclude companies which are causing harm or whose activities conflict with the sustainability objective, (b) inform investment selection for the Fund and (c) identify potential areas for ongoing monitoring and engagement. The Fund's portfolio will be managed to align its holding with the goal of net zero greenhouse gas emission by 2050 or sooner. The Fund will be actively managed. Other Information You can sell some or all of your shares on any business day in the United Kingdom by contacting our Dealing Department by phone or post. Where properly completed documentation is received by post, shares will be sold at the next valuation point following receipt of the instruction. Income will be re-invested. No further shares will be purchased but the reinvestment will be reflected in the price of your existing accumulation shares. You are, however, deemed to have received the income for tax purposes. For further explanation and information see the investment objective and policy section of the Prospectus, which is available by contacting us. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within five years