Portfolio Update

Baring Emerging Europe PLC announces that at close of business 30 November 2018 its ten largest investments were as follows:
 

	% of  Total Assets
Lukoil	11.39
Sberbank	8.66
Novatek	8.31
Gazprom	7.35
PZU	4.76
Turkcell Lletisim Hizmetleri	4.55
X5 Retail Group	4.30
Powszechna Kasa Oszczednosci Bank	3.96
OTP Bank	3.91
KGHM Polska Miedz	3.66

The geographic breakdown at close of business 30 November 2018 was as follows:
 

Russia	64.55
Poland	19.53
Turkey	13.00
Hungary	4.55
Romania	2.23
Greece	1.10
Kuwait	0.94
Other European	1.72
Cash & Equivalents	-7.62