Portfolio Update

Baring Emerging Europe PLC announces that at close of business 30 November 2015 its ten largest investments were as follows:
 

	% of  Total Assets
Lukoil	10.32
Sberbank	10.29
PZU	7.87
Akbank	7.10
Magnit	6.84
Turkiye Halk Bankasi	6.02
Novatek	4.47
Tatneft	3.72
Phosagro	3.25
Turkiye Petrol Rafinerie	3.16

                                                                                        

The geographic breakdown at close of business 30 November 2015 was as follows:
 

Russia	56.40
Turkey	26.60
Poland	15.25
Romania	2.99
Greece	2.14
Hungary	1.95
Georgia	1.51
South Africa	0.74
Kazakhstan	0.69
Cash & Equivalents	-8.27