Portfolio Update

Baring Emerging Europe PLC announces that at close of business 28 February 2017 its ten largest investments were as follows:
 

	% of Total Assets
Sberbank	10.60
Lukoil	8.95
PZU	5.47
Turkiye Halk Bankasi	5.16
Novatek	4.51
Magnit	4.17
LSR	3.45
Tatneft Pao	3.43
Gazprom	3.10
Alrosa	3.04

The geographic breakdown at close of business 28 February 2017 was as follows:

Russia	63.81
Turkey	14.83
Poland	11.54
Romania	4.63
Other European	4.36
Czech rep	3.34
Hungary	2.41
Greece	2.58
Cash & Equivalents	-7.50