Notification of changes to the underlying funds of various Barings funds
31 March 2020
- J03 Barings Asia Growth (“Mirror Fund 1”)
- M55 Barings Hong Kong & China (“Mirror Fund 2”)
- M56 Barings Australia (“Mirror Fund 3”)
- M57 Barings Global Bond (USD) (“Mirror Fund 4”)
- P87 Barings Global Bond (EUR) (“Mirror Fund 5”)
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”).
Mirror Funds 1-5
Currently, subject to approval, the Investment Manager may sub-delegate such investment management to other entities including group companies Baring Asset Management Limited and Baring Asset Management (Asia) Limited.
Following a review of the capabilities across the group companies of Barings, with effect from the Effective Date, Barings LLC will be added to the list of potential investment sub-delegates.
The addition of Barings LLC to the list of potential investment sub-delegates will not result in any changes in the operation and/or manner in which the underlying funds of Mirror Funds 1-3 are being managed.
Mirror Funds 4-5
Currently, the Manager delegates its investment management functions in respect of the underlying funds of Mirror Funds 4-5 to Baring Asset Management Limited as Investment Manager.
Following a review of the capabilities across the group companies of Barings, with effect from the Effective Date, Barings LLC will be appointed as a Sub-Investment Manager of the underlying fund and will be involved in the discretionary investment management of the underlying funds’ assets together with Baring Asset Management Limited, which will continue to be the Investment Manager of the underlying fund.
The addition of Barings LLC as a Sub-Investment Manager of the underlying fund will not result in any other changes in the operation and/or manner in which the underlying fund is being managed.
The changes set out above will not result in any change to the features and risk profiles/risks applicable to the underlying funds and will not result in any change in the fee structure and the maximum fee level of the underlying funds. None of the changes set out in this letter 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.