Name change/fee restructure/misc changes - Baring Global Emerging Markets fund
With effect from 30 April 2018, Baring are making a number of changes to the Baring Global Emerging Markets Fund, including a name change, a restructure of fees and miscellaneous changes to the Hong Kong offering documents.
Impacts on
this guided-architecture product
We have been notified by Baring International Fund Managers (Ireland) Limited ("Barings") of certain changes being made to the Fund and to the offering documents of the Fund. Unless otherwise specified, the changes will take effect on 30 April 2018 (the "Effective Date").
Funds affected
Baring Emerging Markets Umbrella Fund
- Baring Emerging Markets Umbrella Fund - Baring Global Emerging Markets Fund (the "Fund")
Name Change
From the Effective Date, the fund name will change as follows:
| Old fund name | Fund name from Effective Date |
|---|---|
| Baring Global Emerging Markets Fund | Barings Global Emerging Markets Fund |
Fee Restructure
Currently, the Fund is subject to separate depositary fee, administration fee and certain general operating expense items which are each payable out of the assets of the Fund. Baring are combining these fees and expenses into a single Administration, Depositary and Operating expenses fee payable out of the assets of the Fund.
The proposed changes will in all cases result in a reduction in the current fees and expenses bearable by all unit classes and lower ongoing charges for all unit classes currently offered to Hong Kong investors.This is because the current sum of fee rates for the administration fee, depositary fee and certain other fees (which will be included in the Administration, Depositary and Operating Fee) is always higher than the Administration, Depositary and Operating Fee after the proposed change in fee structure.
Maximum Rate of Management Fee
From the Effective Date, the current rate of management fee disclosed in the revised Hong Kong offering documents will be treated as the maximum rate of management fee.
Miscellaneous Changes
There are a number of additional changes to the Hong Kong offering documents detailed in the shareholder notification from Barings, including changes to the format of the offering documents and changes to dealing arrangements for Hong Kong investors.
A copy of the revised Hong Kong offering documents will be available free of charge at the office of Baring Asset Management (Asia) Limited and on www.barings.com on or after the Effective Date.
A copy of the shareholder notification and sample letter can be viewed opposite.
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For more information about Barings visit www.barings.com