Notification of changes to the underlying funds of various Barings funds P48 J27
31 March 2020
- P48 Barings Eastern Europe
- J27 Barings Developed and Emerging Markets High Yield Bond
We have been notified by Baring International Fund Managers (Ireland) Limited (“The Company”) of the following changes to the underlying funds of the above named mirror funds. These changes will come into effect from 29 April 2020 (the “Effective Date”).
P48 Barings Eastern Europe
Currently, subject to approval, the Investment Manager may sub-delegate its investment management functions to other entities including group companies Baring Asset Management Limited, Baring Asset Management (Asia) Limited, Barings LLC and Barings (U.K.) Limited.
Following a review of the capabilities across the group companies of Barings, with effect from the Effective Date, Barings (U.K.) Limited will be removed from the list of potential investment sub-delegates of the underlying fund of P48 Barings Eastern Europe.
J27 Barings Developed and Emerging Markets High Yield Bond Fund
Currently, the Manager delegates its investment management functions in respect of the Relevant Fund to Baring Asset Management Limited as Investment Manager, which in turn delegates such investment management functions to (i) Barings LLC and (ii) Barings (U.K.) Limited as Sub-Investment Managers.
Following a review of the capabilities across the group companies of Barings, with effect from the Effective Date, Barings (U.K.) Limited will be removed as one of the Sub-Investment Managers of the Relevant Fund. For the avoidance of doubt, Barings LLC will remain as a Sub-Investment Manager of the Relevant Fund, and Baring Asset Management Limited will continue to be the Investment Manager of the Relevant Fund.
The removal of Barings (U.K.) Limited as a Sub-Investment Manager of the Relevant Fund will not result in any change to the features and risk profile/risks applicable to the Fund, and will not result in any changes in the operation and/or manner in which the Fund are being managed. There will be no change in the fee structure and the maximum fee level of the Fund following the implementation of the changes detailed in this Notice. None of the changes set out in this notice will materially prejudice the existing Unitholders’ rights or interests (including changes that may limit Unitholders’ ability in exercising their rights).
Should you have any questions regarding these changes, please contact International Funds & Investments.