Notification of changes to the underlying funds of various Barings funds

28 September 2020

J03 Barings Asia Growth

M55 Barings Hong Kong & China

M56 Barings Australia

M57 Barings Global Bond (USD)

P87 Barings Global Bond (EUR)

We have been notified by Baring International Fund Managers (Ireland) Limited (the “Company”) of the following upcoming changes to the underlying funds of the above named Mirror Funds. These changes will take effect from 05 November 2020 (the “Effective Date”).

Change of list of potential investment sub-delegates of the underlying funds of the Mirror Funds

The company have confirmed the below, which has been extracted from the Shareholder Circular of the underlying funds of the above named Mirror Funds.

“Following a review of the capabilities across the group companies of Barings, with effect from 5 November 2020 (the “Effective Date”), Barings Japan Limited will be added to the list of potential investment sub-delegates.

The addition of Barings Japan Limited to the list of potential investment sub-delegates will not result in any changes in the operation and/or manner in which the Funds are being managed.”

Addition of sub-investment manager of the underlying funds of M57 Barings Global Bond (USD) & P87 Barings Global Bond (EUR)

The company have confirmed the below, which has been extracted from the Shareholder Circular of the underlying funds of the above named Mirror Funds.

“Currently, the Manager delegates its investment management functions in respect of the Relevant Fund to Baring Asset Management Limited as Investment Manager, which has appointed Barings LLC as a sub-investment delegate. Barings LLC, as a sub-investment delegate, is involved in the discretionary investment management of the Relevant Fund.

Following a review of the capabilities across the group companies of Barings, with effect from the Effective Date, Barings Japan Limited will be appointed an additional Sub-Investment Manager of the Relevant Fund and will be involved in the discretionary investment management of the Relevant Fund’s assets together with Baring Asset Management Limited and Barings LLC, which will continue to be the Investment Manager and a Sub-Investment Manager of the Relevant Fund respectively.

The addition of Barings Japan Limited as an additional Sub-Investment Manager of the Relevant Fund will not result in any other changes in the operation and/or manner in which the Relevant Fund is being managed.”

Should you have any questions regarding these changes, please contact International Funds & Investments.