Portfolio Update

Baring Emerging Europe PLC announces that at close of business 31 January 2019 its ten largest investments were as follows:                        
 

	% of  Total Assets
Lukoil	11.28
Sberbank	9.44
Novatek	8.48
Gazprom	7.14
PZU	4.31
X5 Retail Group	4.21
Turkiye Petrol Rafinerie	3.79
KGHM Polska Miedz	3.72
Powszechna Kasa Oszczednosci Bank	3.70
Turkcell Lletisim Hizmetleri	3.50

The geographic breakdown at close of business 31 January 2019 was as follows:
 

Russia	61.94
Poland	19.73
Turkey	16.93
Hungary	2.94
Romania	1.57
Greece	1.01
Czech	1.33
Kuwait	0.86
Other European	1.34
Cash & Equivalents	-7.65