The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 23.36% (Q3, 2025)
Lowest Quarterly Return: ‑24.46% (Q3, 2022)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total Returns for | 1 Year | Since Fund | |||
Institutional Class Returns Before Taxes | 36.53% | ‑6.89% | |||
Institutional Class Returns After Taxes | 36.37% | ‑7.11% | |||
Institutional Class Returns After Taxes | 21.97% | ‑5.10% | |||
Class K Returns Before Taxes | 36.77% | ‑6.82% | |||
Comparative Index | |||||
MSCI China All Shares Index(1) | 29.22% | ‑2.39% | |||
(1) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 25.20% (Q4, 2020)
Lowest Quarterly Return: ‑26.53% (Q1, 2020)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns
for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Institutional Class Returns Before | 40.60% | 2.56% | 9.66% | |||
Institutional Class Returns After | 40.17% | 1.87% | 8.87% | |||
Institutional Class Returns After | 24.52% | 1.90% | 7.81% | |||
Class K Returns Before Taxes | 40.69% | 2.65% | 9.75% | |||
Comparative Index | ||||||
MSCI Emerging Markets Index(2) | 34.36% | 4.67% | 8.85% | |||
(1) | Performance for Class K and Institutional Class shares prior to their date of inception (April 28, 2017) is derived from the historical performance of Class 5 shares and, for both Class K and Institutional Class, has been adjusted for the higher total annual operating expenses incurred by Class K and Institutional Class. |
(2) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 17.96% (Q2, 2025)
Lowest Quarterly Return: ‑19.98% (Q2, 2022)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total Returns for | 1 Year | Since Fund | ||
Institutional Class Returns Before Taxes | 43.26% | 9.01% | ||
Institutional Class Returns After | 42.62% | 8.42% | ||
Institutional Class Returns After | 26.07% | 7.04% | ||
Class K Returns Before Taxes | 43.26% | 9.01% | ||
Comparative Index | ||||
MSCI Emerging Markets ex China(1) | 35.64% | 8.47% | ||
(1) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
(1) | Performance for Institutional Class shares prior to their date of inception (April 28, 2017) is derived from the historical performance of Class 3 shares, which are not offered under this Prospectus and are currently closed to new investors. The historical Class 3 performance has been adjusted for the higher total annual operating expenses incurred by Institutional Class. |
Highest Quarterly Return: 28.04% (Q2, 2020)
Lowest Quarterly Return: ‑18.91% (Q1, 2020)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Institutional Class Returns Before | 17.27% | 3.42% | 10.56% | |||
Institutional Class Returns After | 8.70% | 0.51% | 7.94% | |||
Institutional Class Returns After | 15.96% | 2.42% | 8.20% | |||
Class K Returns Before Taxes | 17.50% | 3.53% | 10.64% | |||
Comparative Index | ||||||
MSCI ACWI Index(2) | 22.87% | 11.70% | 12.27% | |||
(1) | Performance for Class K and Institutional Class shares prior to their date of inception (April 28, 2017) is derived from the historical performance of Class 3 shares and, for both Class K and Institutional Class, has been adjusted for the higher total annual operating expenses incurred by Class K and Institutional Class. |
(2) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
(1) | Performance for Institutional Class shares prior to their date of inception (April 28, 2017) is derived from the historical performance of Class 2 shares, which are not offered under this Prospectus and are currently closed to new investors. The historical Class 2 performance has been adjusted for the higher total annual operating expenses incurred by Institutional Class. |
Highest Quarterly Return: 25.58% (Q2, 2020)
Lowest Quarterly Return: ‑20.84% (Q1, 2020)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Institutional Class Returns Before | 19.45% | 1.02% | 7.59% | |||
Institutional Class Returns After | 16.73% | 0.03% | 6.56% | |||
Institutional Class Returns After | 14.12% | 0.91% | 6.15% | |||
Class K Returns Before Taxes | 19.59% | 1.10% | 7.67% | |||
Comparative Index | ||||||
MSCI ACWI ex USA Index(2) | 33.11% | 8.45% | 8.94% | |||
(1) | Performance for Class K and Institutional Class shares prior to their date of inception (April 28, 2017) is derived from the historical performance of Class 2 shares and, for Institutional Class, has been adjusted for the higher total annual operating expenses incurred by Institutional Class. |
(2) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 44.43% (Q2, 2020)
Lowest Quarterly Return: ‑24.10% (Q2, 2022)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | Since Fund | |||
Institutional Class Returns | 16.56% | ‑0.74% | 11.52% | |||
Institutional Class Returns | 16.56% | ‑2.24% | 8.59% | |||
Institutional Class Returns | 9.80% | ‑0.84% | 9.18% | |||
Class K Returns Before Taxes | 16.69% | ‑0.63% | 11.66% | |||
Comparative Index | ||||||
MSCI ACWI ex USA Index(1) | 33.11% | 8.45% | 7.55% | |||
(1) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmarks. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 36.69% (Q2, 2020)
Lowest Quarterly Return: ‑21.77% (Q1, 2022)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. The table compares the Fund’s returns to two broad-based securities market indices that the Fund believes provide appropriate market benchmarks for the Fund’s performance. A description of the Fund’s comparative indices and details regarding the calculation of the Fund’s class-by-class performance are provided in the
section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Institutional Class Returns | 17.23% | ‑3.08% | 8.85% | |||
Institutional Class Returns | 15.81% | ‑4.33% | 7.47% | |||
Institutional Class Returns | 11.27% | ‑2.34% | 7.14% | |||
Class K Returns Before Taxes | 17.24% | ‑3.00% | 8.93% | |||
Comparative Indices | ||||||
MSCI ACWI ex USA Index(2) | 33.11% | 8.45% | 8.94% | |||
MSCI EAFE Index(2) | 31.89% | 9.46% | 8.71% | |||
(1) | Performance for Class K and Institutional Class shares prior to their date of inception (April 28, 2017) is derived from the historical performance of Class 2 shares and, for Institutional Class, has been adjusted for the higher total annual operating expenses incurred by Institutional Class. |
(2) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 44.21% (Q2, 2020)
Lowest Quarterly Return: ‑28.26% (Q2, 2022)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Institutional Class Returns | 16.26% | 1.81% | 15.67% | |||
Institutional Class Returns | 16.26% | 1.39% | 14.94% | |||
Institutional Class Returns | 9.63% | 1.31% | 13.12% | |||
Class K Returns Before Taxes | 16.40% | 1.91% | 15.77% | |||
Comparative Index | ||||||
MSCI ACWI Index(2) | 22.87% | 11.70% | 12.27% | |||
(1) | Performance for Class K and Institutional Class shares prior to their date of inception (April 28, 2017) is derived from the historical performance of Class 2 shares and, for Institutional Class, has been adjusted for the higher total annual operating expenses incurred by Institutional Class. |
(2) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmarks. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 55.77% (Q2, 2020)
Lowest Quarterly Return: ‑38.41% (Q2, 2022)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Institutional Class shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. The table compares the Fund’s returns to a broad-based securities market index, as required by relevant disclosure rules, and an additional benchmark that the Fund believes better aligns with the Fund’s investment objective and strategies. A description of the Fund’s comparative indices and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | Since Fund | |||
Institutional Class Returns | 10.25% | ‑2.27% | 15.86% | |||
Institutional Class Returns | 10.25% | ‑3.14% | 15.08% | |||
Institutional Class Returns | 6.07% | ‑1.86% | 13.26% | |||
Class K Returns Before Taxes(3) | 10.38% | ‑2.18% | 15.95% | |||
Comparative Indices | ||||||
S&P 500 Index(4) | 17.88% | 14.42% | 15.22% | |||
Russell 1000 Growth Index(5) | 18.56% | 15.31% | 19.42% | |||
(1) | Performance for Institutional Class shares prior to their date of inception (April 28, 2017) is derived from the historical performance of Class 1 shares and has been adjusted for the higher total annual operating expenses incurred by Institutional Class. |
(2) | If reimbursement received from the Manager in 2019 were excluded, the total return would be lower. |
(3) | The inception date for Baillie Gifford U.S. Equity Growth Fund is December 5, 2016, when Baillie Gifford International, LLC purchased Class 1 shares. Classes 1‑5 of the Fund were terminated effective May 1, 2017, and Class 1 shares were converted to Class K shares. For periods prior to May 1, 2017, the performance shown is based on the performance for Class 1 shares. |
(4) | The S&P 500 Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC, a division of S&P Global; Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein. |
(5) | The source of the index data is London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”).© LSE Group 2020. FTSE Russell is a trading name of certain of the LSE Group companies. “Russell®” is a trademark(s) of the relevant LSE Group companies and is used by any other LSE Group company under license. “TMX®” is a trademark of TSX, Inc. and used by the LSE Group under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability |
for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this Prospectus. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this Prospectus. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 25.25% (Q4, 2020)
Lowest Quarterly Return: ‑26.48% (Q1, 2020)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Class 5 shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Class 5 Returns Before Taxes | 40.92% | 2.80% | 9.92% | |||
Class 5 Returns After Taxes on | 40.44% | 2.08% | 9.12% | |||
Class 5 Returns After Taxes on | 24.71% | 2.08% | 8.02% | |||
Class 2 Returns Before Taxes | 40.71% | 2.65% | 9.76% | |||
Class 3 Returns Before Taxes(1) | 40.81% | 2.72% | 9.83% | |||
Class 4 Returns Before Taxes(2) | 40.85% | 2.75% | 9.86% | |||
Comparative Index | ||||||
MSCI Emerging Markets Index(3) | 34.36% | 4.67% | 8.85% | |||
(1) | Performance for Class 3 shares prior to their date of inception (March 31, 2016) is derived from the historical performance of Class 5 shares, and has been adjusted for the higher shareholder servicing fees applied to Class 3 shares. |
(2) | Performance for Class 4 shares for periods prior to it being funded on July 13, 2023 is derived from the historical performance of Class 5 shares and has been adjusted for the period during which higher shareholder servicing fees applied to Class 4 shares. |
(3) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s
benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 28.09% (Q2, 2020)
Lowest Quarterly Return: ‑18.92% (Q1, 2020)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Class 2 shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Class 2 Returns Before Taxes | 17.46% | 3.53% | 10.64% | |||
Class 2 Returns After Taxes on | 8.86% | 0.62% | 8.05% | |||
Class 2 Returns After Taxes on | 16.00% | 2.50% | 8.29% | |||
Class 3 Returns Before Taxes(1) | 17.46% | 3.53% | 10.64% | |||
Class 4 Returns Before Taxes(2) | 17.46% | 3.53% | 10.64% | |||
Class 5 Returns Before Taxes(3) | 17.46% | 3.53% | 10.64% | |||
Comparative Index | ||||||
MSCI ACWI Index(4) | 22.87% | 11.70% | 12.27% | |||
(1) | Class 3 shares were unfunded from April 15, 2024, to October 21, 2025. During this period, performance for Class 3 shares is derived from the historical performance of Class 2 shares, and has not been adjusted for the lower shareholder servicing fees applicable to Class 3 shares; had it, returns would have been higher. |
(2) | Performance for Class 4 shares, which were unfunded as of December 31, 2025, is derived from the historical performance of Class 2 shares, and has not been adjusted for the lower shareholder servicing fees applicable to Class 4 shares; had it, returns would have been higher. |
(3) | Performance for Class 5 shares, which were unfunded as of December 31, 2025, is derived from the historical performance of Class 2 shares, and has not been adjusted for the lower shareholder servicing fees applicable to Class 5 shares; had it, returns would have been higher. |
(4) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The |
MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 25.55% (Q2, 2020)
Lowest Quarterly Return: ‑20.78% (Q1, 2020)
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Class 2 Returns Before Taxes | 19.58% | 1.10% | 7.67% | |||
Class 2 Returns After Taxes on | 16.82% | 0.06% | 6.60% | |||
Class 2 Returns After Taxes on | 14.23% | 0.96% | 6.20% | |||
Class 3 Returns Before Taxes | 19.67% | 1.18% | 7.74% | |||
Class 4 Returns Before Taxes(1) | 19.70% | 1.21% | 7.76% | |||
Class 5 Returns Before Taxes | 19.76% | 1.26% | 7.83% | |||
Comparative Index | ||||||
MSCI ACWI ex USA Index(2) | 33.11% | 8.45% | 8.94% | |||
(1) | Performance for Class 4 shares prior to their date of inception (July 10, 2017) is derived from the historical performance of Class 2 shares, and has not been adjusted for the lower shareholder servicing fees applicable to Class 4 shares; had it, returns would have been higher. |
(2) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmarks. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 36.72% (Q2, 2020)
Lowest Quarterly Return: ‑21.75% (Q1, 2022)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Class 2 shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. The table compares the Fund’s returns to two broad-based securities market indices that the Fund believes provide appropriate market benchmarks for the Fund’s performance. A description of the Fund’s comparative indices and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | ||||
Class 2 Returns Before Taxes | 17.28% | ‑2.99% | 8.93% | ||||
Class 2 Returns After Taxes on | 15.93% | ‑4.23% | 7.57% | ||||
Class 2 Returns After Taxes on | 11.34% | ‑2.26% | 7.22% | ||||
Class 3 Returns Before Taxes | 16.85% | ‑3.07% | 8.89% | ||||
Class 4 Returns Before Taxes(1) | 17.39% | ‑2.90% | 9.03% | ||||
Class 5 Returns Before Taxes | 17.45% | ‑2.85% | 9.10% | ||||
Comparative Index | |||||||
MSCI ACWI ex USA Index(2) | 33.11% | 8.45% | 8.94% | ||||
MSCI EAFE Index(2) | 31.89% | 9.46% | 8.71% | ||||
(1) | Performance for Class 4 shares prior to their date of inception (October 10, 2016) is derived from the historical performance of Class 2 shares, and has not been adjusted for the lower shareholder servicing fees applicable to Class 4 shares; had it, returns would have been higher. |
(2) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year and by comparing the Fund’s average annual total returns with those of the Fund’s benchmark. Past performance (before and after taxes) is not an indication of future performance.
Highest Quarterly Return: 44.24% (Q2, 2020)
Lowest Quarterly Return: ‑28.24% (Q2, 2022)
In the table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Class 2 shares only, and after-tax returns for other share classes will vary. Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through a tax-advantaged account. A description of the Fund’s comparative index and details regarding the calculation of the Fund’s class-by-class performance are provided in the section of the Prospectus entitled “Additional Performance Information.”
Average Annual Total | 1 Year | 5 Years | 10 Years | |||
Class 2 Returns Before Taxes | 16.38% | 1.91% | 15.77% | |||
Class 2 Returns After Taxes on | 16.38% | 1.49% | 15.04% | |||
Class 2 Returns After Taxes on | 9.70% | 1.38% | 13.21% | |||
Class 3 Returns Before Taxes(1) | 16.38% | 1.91% | 15.77% | |||
Class 4 Returns Before Taxes(2) | 16.38% | 1.91% | 15.77% | |||
Class 5 Returns Before Taxes(3) | 16.38% | 1.91% | 15.77% | |||
Comparative Index | ||||||
MSCI ACWI Index(4) | 22.87% | 11.70% | 12.27% | |||
(1) | Performance for Class 3 shares prior to their commencement of investment operations (October 14, 2025) is derived from the historical performance of Class 2 shares, and has not been adjusted for the lower shareholder servicing fees applicable to Class 3 shares; had it, returns would have been higher. |
(2) | Performance for Class 4 shares, which were unfunded as of December 31, 2025, is derived from the historical performance of Class 2 shares, and has not been adjusted for the lower shareholder servicing fees applicable to Class 4 shares; had it, returns would have been higher. |
(3) | Performance for Class 5 shares, which were unfunded as of December 31, 2025, is derived from the historical performance of Class 2 shares, and has not been adjusted for the lower shareholder servicing fees applicable to Class 5 shares; had it, returns would have been higher. |
(4) | The source of the index data is MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indexes or any securities or financial products. This Prospectus is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data 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. |
Updated information on the Fund’s investment performance can be obtained by visiting http://USmutualfund.bailliegifford.com.