Baillie Gifford Positive Change Equities Fund - Institutional Class

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in stocks of companies that the fund’s advisor determines contribute towards a more sustainable and inclusive world. It invests in common and preferred stocks directly, such as through trading on local stock markets around the world, and indirectly, such as through depositary receipts. The fund is non-diversified.