Barings Emerging EMEA Opportunities Plc - Investment Update
PR Newswire
London, January 21
21 January 2020
Barings Emerging EMEA Opportunities PLC
"Finding quality companies from Emerging Europe, the Middle East and Africa"
Investment Update
The Board of Barings Emerging EMEA Opportunities PLC (the "Company") wishes to update shareholders on investment progress since the change of investment strategy was approved by shareholders on 13 November 2020.
Since this date to 15 January 2020, the net asset value per share on total return basis, has increased by 12.2 per cent. to 833.51p per share. Accordingly, since the revised investment policy was approved to 15 January 2020 the Company has outperformed its new benchmark (the MSCI Emerging Markets EMEA Index (net)) by 3.8 per cent, buoyed by an ongoing recovery of the most cyclically exposed sectors within the portfolio which are most sensitive to improvements in the economic outlook.
As of 19 January 2020, the Company has now substantially completed its portfolio reorganisation in the light of the revised investment policy. However, certain markets (which represent approximately 10 per cent. of the new benchmark) remain closed to the Company for direct investment due to the inability, in the light of COVID19 restrictions, of the necessary custody account opening to be completed. As at 19 January 2020, the Company's geographic exposure was as follows:
| RUSSIA | 38.28% |
| SOUTH AFRICA* | 27.60% |
| SAUDI ARABIA | 13.40% |
| TURKEY | 6.19% |
| POLAND | 5.71% |
| GREECE | 1.77% |
| CZECHIA | 1.50% |
| KUWAIT | 0.98% |
| CASH | 4.57% |
*South Africa includes an investment in Prosus which is listed in the Netherlands.
The Investment Manager remains encouraged by the market opportunities and the Board will provide a further update in due course.
For further information please contact:
| Barings Emerging EMEA Opportunities PLC, via J.P. Morgan Cazenove | |
| Frances Daley (Chairman) | |
| J.P. Morgan Cazenove | +44 (0)20 7742 4000 |
| William Simmonds | |
| Media enquiries | |
| Quill PR | +44 (0)20 7466 5050 |
| Nick Croysdill, Andreea Caraveteanu |
About Barings Emerging EMEA Opportunities PLC
"Finding quality companies from Emerging Europe, the Middle East and Africa."
Barings Emerging EMEA Opportunities PLC (the "Company") is a UK based investment trust that was launched on 18 December 2002 and is managed by Baring Fund Managers Limited.
On 13 November 2020, the Company obtained shareholders' approval to broaden its investment policy and will focus on growth and income from quality companies in the Emerging Europe, Middle East and Africa ("EMEA") region. It also changed its name from Baring Emerging Europe PLC to Barings Emerging EMEA Opportunities PLC on the same date.
For more information, please visit the Company's website: www.bemoplc.com
LEI: 213800HLE2UOSVAP2Y69
