Japan Income Growth Fund Shareholder Meeting Results

Fund Matters

On 10 April 2026, the extraordinary general meeting of shareholders passed a special resolution approving changes to the fund's investment objective, name, fee allocation policy, and dividend frequency, and authorised the preliminary adjustment of the portfolio to align with the new objective.

• Resolution content: Approved the changes proposed by the ACD, Baillie Gifford & Co Limited, in its letter to fund shareholders dated 18 March 2026, covering four items: (i) investment objective; (ii) fund name; (iii) fee allocation policy; (iv) dividend payment frequency. The resolution was passed as an extraordinary resolution.
• Implementation arrangements: The resolution authorised the ACD and the depositary, NatWest Trustee and Depositary Services Limited, to take the necessary steps to implement the changes, including "adjusting the investment portfolio of the Baillie Gifford Japanese Income Growth Fund (a sub-fund of Baillie Gifford Investment Funds II ICVC) to align it with the updated investment objective," in preparation for the changes taking effect.
• Observation: This section is a meeting results announcement rather than an investment monthly report. It discloses a structural overhaul at the fund level—simultaneous changes to the name, objective, fees, and dividend cadence—which is typically a signal of strategic repositioning. However, the announcement does not disclose the new investment objective, the new name, or the direction of portfolio adjustments; further disclosure documents are awaited.