The fund aims to beat the JPMorgan GBI-Emerging Market Bond Global Diversified Index. Investment income will be paid quarterly.
At least 75% of the funds assets will be held in bonds issued by emerging markets borrowers or those that are denominated in emerging market currencies.
Baillie Gifford's said the emerging market bond fund will include best ideas from Baillie Gifford's fixed-income team, which is led by Guy Cameron.
They also said that it has become clear that many of our best investment ideas in recent years, in both bonds and in currencies, have been in the emerging markets area.
Minimum investment is £1,000, with 3.5% initial charge and 1.3% AMC.