Filed pursuant to Rule 497(e)
under the Securities Act of 1933, as amended
Registration File No.: 333-200831
BAILLIE GIFFORD FUNDS
Baillie Gifford Emerging Markets Equities Fund
Baillie Gifford Emerging Markets ex China Fund
Baillie Gifford International Alpha Fund
Baillie Gifford International Growth Fund
Supplement dated September 8, 2026 to the Prospectuses and the Statement of Additional Information (“SAI”), each dated April 30, 2026, as supplemented or revised from time to time
| 1. | Effective on or about March 31, 2027, Andrew Stobart will no longer be Portfolio Manager for Baillie Gifford Emerging Markets Equities Fund, will no longer be Portfolio Manager for Baillie Gifford Emerging Markets ex China Fund, and will no longer be a member of the Emerging Markets Equity Team. The Prospectuses and the SAI are revised as of that date to remove all references to Andrew Stobart as Portfolio Manager for Baillie Gifford Emerging Markets Equities Fund, as Portfolio Manager for Baillie Gifford Emerging Markets ex China Fund, and as a member of the Emerging Markets Equity Team. |
| 2. | Effective on or about April 1, 2027, Alice Stretch will become a Portfolio Manager for Baillie Gifford Emerging Markets Equities Fund. Therefore, effective as of that date, the Prospectuses and the SAI are revised as follows. |
The subsection titled “Management” under “Baillie Gifford Emerging Markets Equities Fund” in the “Fund Summaries” section is restated in its entirety as follows:
Management
Investment Manager
Baillie Gifford Overseas Limited
Portfolio Managers
Name |
Title | Year
Commenced Service with the Fund |
| Ben Durrant | Portfolio Manager | 2021 |
| Mike Gush | Portfolio Manager | 2005 |
| Alice Stretch | Portfolio Manager | 2027 |
The subsection titled “Baillie Gifford Emerging Markets Equities Fund Team” under “Investment Teams” in the “Fund Management” section is revised to add the following information:
| Education | Investment Experience |
Alice Stretch
|
Ms. Stretch is an investment manager in the Emerging Markets Equity Team. She joined Baillie Gifford in 2018, starting out as an analyst in the Emerging Markets Equity Team. She has previously worked in the Long Term Global Growth, Global Alpha and Credit teams. Ms. Stretch graduated BSc in Political Economy from King’s College London in 2018. |
| BSC in Political Economy (2018) King’s College London |
Ms. Stretch has been a member of the portfolio management team since April 2027. |
The section titled “Other Accounts” under “Investment Decisions by Portfolio Managers” in the “Manager” section of the SAI is revised to add the following information:
| Account Type | Total Accounts |
Total Assets in Accounts |
Where
advisory fee is based on | ||
| (US$m) | Accounts | Assets
in Accounts (US$m) | |||
| Baillie Gifford Emerging Markets Equities Fund | |||||
| Alice Stretch, as of August 31, 2026* | |||||
| Registered Investment Companies | -- | -- | -- | -- | |
| Other Pooled Investment Vehicles | -- | -- | -- | -- | |
| Other Accounts | 1 | 146 | -- | -- | |
| *Ownership of Securities - As of August 31, 2026, Ms. Stretch did not beneficially own any shares of Baillie Gifford Emerging Markets Equities Fund. | |||||
| 3. | Effective on or about April 1, 2027, Alice Stretch will become a Portfolio Manager for Baillie Gifford Emerging Markets ex China Fund. Therefore, effective as of that date, the Prospectus for Class K and Institutional Class and the SAI are revised as follows. |
The subsection titled “Management” under “Baillie Gifford Emerging Markets ex China Fund” in the “Fund Summaries” section is restated in its entirety as follows:
Management
Investment Manager
Baillie Gifford Overseas Limited
Portfolio Managers
Name |
Title | Year
Commenced Service with the Fund |
| Ben Durrant | Portfolio Manager | 2021 |
| Mike Gush | Portfolio Manager | 2021 |
| Alice Stretch | Portfolio Manager | 2027 |
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The subsection titled “Baillie Gifford Emerging Markets ex China Fund Team” under “Investment Teams” in the “Fund Management” section is revised to add the following information:
| Education | Investment Experience |
Alice
Stretch BSC in Political Economy (2018) |
Ms. Stretch is an investment manager in the Emerging Markets Equity Team. She joined Baillie Gifford in 2018, starting out as an analyst in the Emerging Markets Equity Team. She has previously worked in the Long Term Global Growth, Global Alpha and Credit teams. Ms. Stretch graduated BSc in Political Economy from King’s College London in 2018. Ms. Stretch has been a member of the portfolio management team since April 2027. |
The section titled “Other Accounts” under “Investment Decisions by Portfolio Managers” in the “Manager” section of the SAI is revised to add the following information:
| Account Type | Total Accounts |
Total Assets in Accounts |
Where
advisory fee is based on | ||
| (US$m) | Accounts | Assets
in Accounts (US$m) | |||
| Baillie Gifford Emerging Markets ex China Fund | |||||
| Alice Stretch, as of August 31, 2026* | |||||
| Registered Investment Companies | -- | -- | -- | -- | |
| Other Pooled Investment Vehicles | -- | -- | -- | -- | |
| Other Accounts | 1 | 146 | -- | -- | |
| *Ownership of Securities - As of August 31, 2026, Ms. Stretch did not beneficially own any shares of Baillie Gifford Emerging Markets ex China Fund. | |||||
| 4. | Effective on or about March 31, 2027, Donald Farquharson will no longer be Portfolio Manager for Baillie Gifford International Alpha Fund and will no longer be a member of the Japanese Equities Team. The Prospectuses and the SAI are revised as of that date to remove all references to Donald Farquharson as Portfolio Manager for Baillie Gifford International Alpha Fund and as a member of the Japanese Equities Team. |
| 5. | Effective on or about September 8, 2026, Robert Wilson will no longer be Portfolio Manager for Baillie Gifford International Growth Fund and will no longer be a member of the International Growth Team. The Prospectuses and the SAI are revised as of that date to remove all references to Robert Wilson as Portfolio Manager for Baillie Gifford International Growth Fund and as a member of the International Growth Team. |
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| 6. | Effective on or about September 8, 2026, Alex Summers will become a Portfolio Manager for Baillie Gifford International Growth Fund. Therefore, effective as of that date, the Prospectuses and the SAI are revised as follows. |
The subsection titled “Management” under “Baillie Gifford International Growth Fund” in the “Fund Summaries” section is restated in its entirety as follows:
Management
Investment Manager
Baillie Gifford Overseas Limited
Portfolio Managers
| Name | Title | Year Commenced Service with the Fund |
| Julia Angeles | Portfolio Manager | 2017 |
| Lawrence Burns | Portfolio Manager | 2012 |
| Thomas Coutts | Portfolio Manager | 2008 |
| Brian Lum | Portfolio Manager | 2015 |
| Alex Summers | Portfolio Manager | 2026 |
The subsection titled “Baillie Gifford International Growth Fund Team” under “Investment Teams” in the “Fund Management” section is revised to add the following information:
| Education | Investment Experience |
|
Alex Summers
CFA Charterholder |
Mr. Summers is an investment manager in the Emerging Markets Equity Team. He is also a member of the International Growth Portfolio Construction Group. Mr. Summers joined Baillie Gifford in 2022 and prior to joining the firm, worked as a Senior Investment Analyst (EM/Asia) at Stewart Investors from 2013. He is a CFA Charterholder and graduated BBA (First Class Honours), in Accounting and Finance from the University of New Brunswick, Canada in 2012. Mr. Summers has been a member of the portfolio management team since September 2026. |
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The section titled “Other Accounts” under “Investment Decisions by Portfolio Managers” in the “Manager” section of the SAI is revised to add the following information:
| Account Type | Total Accounts |
Total Assets in Accounts (US$m) |
Where advisory fee is based on account performance: | ||
| Accounts | Assets in Accounts (US$m) | ||||
| Baillie Gifford International Growth Fund | |||||
| Alex Summers, as of August 31, 2026* | |||||
| Registered Investment Companies | — | — | — | — | |
| Other Pooled Investment Vehicles | 3 | 1,319 | — | — | |
| Other Accounts | 12 | 6,318 | — | — | |
| *Ownership of Securities - As of August 31, 2026, Mr. Summers did not beneficially own any shares of Baillie Gifford International Growth Fund. | |||||
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
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