|The objective is to produce a total return, before charges and expenses payable out of the Fund, in excess of the total return on the FTSE Actuaries UK Index-Linked Gilts Over 5 Years Index, or any successor or substitute index, by 1.5% per annum over rolling 3-year periods. There is no guarantee that a positive return will be achieved over rolling 3-year periods or any time period and capital may be at risk. The Fund will invest primarily in: UK government bonds: overseas government bonds: and quasi-government bonds, some of which may be issued by developing countries. Currency forwards and derivatives will be used, in keeping with the Fund's objective, with the intention of either protecting or enhancing the return on the Fund.
No more than 10% in value of the property of the Fund will be invested in units of other collective investment schemes.
More than 35% in value of the property of Baillie Gifford Active Index-Linked Gilt Plus Fund may be invested in Government and public securities (“GAPS”):-
(a) issued by, or on behalf of, the same person provided that person is among the Government of the United Kingdom, of Northern Ireland, or of Eire, France, Germany, Luxembourg, Netherlands, Belgium, Denmark, Italy, Spain, Portugal, Greece, Austria, Finland, Sweden, Iceland, Norway, Liechtenstein, Australia, Canada, Japan, New Zealand, Switzerland or the United States of America; the International Bank for Reconstruction and Development (“the World Bank”), the European Investment Bank, the European Bank for Reconstruction and Development, the International Finance Corporation, or the Inter-American Development Bank;
(b) guaranteed by the same person, provided that that person is among the Governments referred to in paragraph (a) above.
As at the date of this Prospectus more than 35% in value of the property of Baillie Gifford Active Index-Linked Gilt Plus Fund was invested in such Government and public securities issued by the Government of the United Kingdom. |