Notification of changes to the underlying funds of various Baring funds

Change of list of potential investment sub-delegates of the underlying funds of the above named mirror funds

The Company have advised the below, which has been extracted from the shareholder circular of the underlying funds of the above named mirror funds.

• “The Hong Kong Offering Documents currently provide that, subject to the Central Bank and the SFC’s approval, the Investment Manager may sub-delegate such investment management to other entities including group companies Baring Asset Management Limited, Baring Asset Management (Asia) Limited, Barings LLC and Barings Japan Limited.
  
  To better utilise the expertise and resources of Barings’ investment teams in different jurisdictions, with effect from Effective Date, Barings Singapore Pte. Ltd. (“Barings Singapore”) will be added to the list of potential investment sub-delegates.
  
  The addition of Barings Singapore 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, and will not result in any effects on existing Unitholders of the Funds.”

Addition of delegate of sub-investment manager of the underlying fund of M56 Barings Australia

The Company have advised the below, which has been extracted from the shareholder circular of the underlying fund of M56 Barings Australia.

• “Currently, the Manager delegates its investment management functions in respect of the Relevant Funds to Baring Asset Management Limited as Investment Manager, which has appointed Baring Asset Management (Asia) Limited as a sub-investment delegate. Baring Asset Management (Asia) Limited, as a sub-investment delegate, is involved in the discretionary investment management of the Relevant Funds. To better utilise the expertise and resources of Barings’ investment teams in different jurisdictions, with effect from the Effective Date, Baring Asset Management (Asia) Limited will appoint Barings Singapore as a Delegate of Sub-Investment Manager of each of the Relevant Funds. Following such appointment, Barings Singapore will be involved in the discretionary investment management of the Relevant Funds’ assets together with Baring Asset Management Limited and Baring Asset Management (Asia) Limited, which will continue to be the Investment Manager and a Sub-Investment Manager of the Relevant Funds respectively.
  
  The addition of Barings Singapore as a Delegate of Sub-Investment Manager of the Relevant Funds will not result in any other changes in the operation and/or manner in which the Relevant Funds are being managed, and will not result in any adverse impact on existing Unitholders of the Relevant Funds.”