Baillie Gifford Global Discovery Fund B Income

Objective The Fund aims to outperform (after deduction of costs) the S&P Global Small Cap Index, as stated in sterling, by at least 2% per annum over rolling five-year periods. Policy The Fund will invest at least 90% in shares of companies in any country and in any sector which typically at the time of initial purchase have a market capitalisation of US$10 billion or less. The Fund may also invest in other transferable securities of companies anywhere in the world and money market instruments. 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. Any income due to you will be paid into your bank or building society account, paid on the dates specified in the Prospectus. 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.