Suspension of trading activity for a fund with exposure to Russia

Due to the increasing conflict between Russia and Ukraine, market conditions have been significantly impaired causing trading issues for funds that have high exposure to Russia.

We have been advised that the manager of the below fund, which has investment in companies listed in Russia, has taken steps to temporarily suspend subscriptions, redemptions and the calculation of the net asset value (NAV) as a result of the sanctions imposed on Russia by the international community and the suspension in trading of foreign entities invested in Russia by the Russia government.

Asset name: Barings Gl.Umb.East.Europ.A.USD Inc

ISIN: IE0000805634

SEDOL: 0080563

At this stage, we do not know how long the trading suspension and suspension of the NAV calculation will last; the manager of the fund is monitoring the situation and will provide an update when possible.

Trades received for the suspended fund will be rejected.

When a fund suspends publishing a NAV we are unable to accurately price the fund in our clients' portfolios. In these circumstances it is necessary to reflect the unit price of the suspended fund as 0.0001 in plans until the fund starts trading again.

The situation in Russia is rapidly developing and therefore subject to change at short notice. Please contact us for the latest position.

Notes:

Net asset value, or NAV, represents the value of an investment fund and is calculated by adding the total value of the fund’s assets and subtracting its liabilities. Investment funds use NAV to calculate the price per share of the fund.