April 19, 2022

Board update regarding Russian securities

Following announcements from various authorities globally, with regard to Russian persons and entities subject to sanctions, the Board of Barings Emerging EMEA Opportunities PLC (the ‘Company’) have made a number of adjustments to the Company’s net asset value to better reflect the fair value of Russian assets in the portfolio. These changes reflect the fact that the Company’s ability to mark to market certain securities within the portfolio has been impacted by exchange closures and sanction activities. 

As of the 28th February 2022, Russian securities listed on the Moscow Exchange were valued in the portfolio at zero (RNS announcement here).

As of the 2nd March 2022, Russian depositary receipts traded on the London Stock Exchange were valued at zero following their suspension from trading. Holdings in US listed Russian stocks that have been halted from trading were also valued at zero (RNS announcement here).

Following the above adjustments, the value of Russian related instruments included in the net asset value as of the 2nd March 2022 was 0%. The remaining securities in the portfolio continue to be valued using their current market prices. The Board continues to follow this valuation policy.

Management fees are charged based on the Company’s net asset value and, as a result, no management fees are being charged on Russian securities.

The Board and Manager will continue to monitor the situation and make further adjustments as and when considered necessary. 

Barings Emerging EMEA Opportunities PLC
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