1. BISLDCLS\CORPORATE\SALES-MARKETING\NONE
FOR PROFESSIONAL ADVISERS ONLY
Barings at a glance
Euro version
February 2016
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2. Baring Asset Management
An international investment management company with a history dating back to 1762
Operating in 11 countries with professionals from 35 different nations
Providing investment management services in emerging and inefficient markets, asset allocation and specialist fixed income to investors worldwide
Working in partnership with many of the world’s largest financial institutions
Owned by Massachusetts Mutual Life Insurance Company (MassMutual)
Current assets under management €31.0 billion
133 investment professionals
London, Boston, Dubai, Frankfurt, Geneva, Hong Kong, Kaohsiung,
Paris, San Francisco, Seoul, Taipei, Tokyo, Toronto
Source: Barings, 31 January 2016
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3. Examples of our clients and partners around the world
PLEASE NOTE:
The following are NOT to be incorporated in this list - it should be kept purely representative:
No highlighting client names to reflect new appointment
No segregation of fund type i.e. Public/Corp
Examples of our clients and partners around the world
LAST UPDATED
C Hansen/B Wager
19 February 2016
North America
California PERS
City of Dallas
Colorado PERA
Harbor Capital Advisors
Houston Municipal Employees’ Pension System
Kansas PERS
Kentucky TRS
Miami University Foundation
MassMutual
New York State Common Fund
PERSIdaho
Teacher Retirement System of Texas
Tennessee Consolidated Retirement System
Europe and Middle East
Allfunds Bank
Allianz
BNP
Citi
Commerzbank
Cortal Consors
Deutsche Bank
Generali
Julius Baer
Pictet
Standard Chartered
UBS UK
Aberdeen City Council
Aberystwyth University
Devon County Council
Doosan Babcock Energy Pension Scheme
Dorset County Council
Friends Provident
Fuller Smith & Turner Pension Plan
Hargreaves Lansdown
Highlands & Islands Airports Pension Scheme
Sharp
Old Mutual
Wiltshire County Council
Zurich International
Asia
ANZ
Bank of China
Bank of China Investment Management (PRC)
Cathay Life
Citi
Chinatrust
DBS
First Commercial Bank
Hang Seng Bank
HSBC
National Council for Social Security Fund (PRC)
Standard Chartered Bank
Sun Life Asia
Zurich Life
Korea
Hana Financial Group
Hanwha Life
Hi Asset Management
Hyundai Securities
KB Financial Group
Korea Post
Korea Teachers Credit Union
Korea Teachers Pension
Kyobo Life
MetLife Insurance of Korea
Mirae Asset Securities
National Pension Service
Samsung Life
Samsung Securities
Shinhan Financial Group
Japan
Bridgestone Pension Fund
Hiroshima Bank
Hitachi Pension Fund
Ichiyoshi Securities
NN Life Insurance Japan
Sanyo Rengo Pension Fund
Shinsei Bank
Sumitomo Rubber Rengo Pension Fund
Taisho Pharmaceutical Group Pension Fund
Tokyo Electron Pension Fund
Toyota Motor Pension Fund
NO CLIENT NAMES TO BE ADDED TO LIST UNTIL FUNDING RECEIVED & APPROVAL FROM CLIENT
SMALL PRINT
J Prichard confirmed
19 June 2013
Clients named are those who consent solely to disclosure of their name for the purposes of marketing to other existing and potential institutional clients. By disclosure of their names, such clients neither approve nor disapprove nor endorse our services, products or performance. February 2016
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4. Diversity of assets under management Total assets – €31.0 billion
Clients by Type
Clients Assets by Origin
Asia ex Japan
Pension Funds
Europe ex UK
Distributor Platforms & IFAs
Japan
MEAC
North America
Corporates & Insurance
Sovereign Wealth
United Kingdom
Charities
Private Banks & Fund of Funds
Investment Companies
100% Total
100% Total
Assets as at 31 January 2016
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5. Diversity of assets under management Total assets – €31.0 billion
Clients by Product
Clients Assets Invested
Equities
Equities
Fixed Income
Fixed Income
Multi Asset
Multi Asset
Active Passive
Cash
Assets as at 31 January 2016
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6. Diversity of assets under management Specialist assets – €22.8 billion
Clients Assets Invested Equities – €14.3 billion
Clients Assets Invested Fixed income – €8.5 billion
Assets as at 31 January 2016
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7. Equity investment process
Sourcing ideas
High conviction ideas generated from Barings’ diverse pool of global investors
Researching companies
Finding unrecognised growth on a three to five year horizon
Constructing portfolios
Quality, Growth, Upside
High conviction, high active share
Integrated risk analysis
Monitoring portfolios
Ongoing monitoring to ensure consistency with our philosophy and process
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8. Fixed income investment process
Research
Forecast
Identify opportunities
Portfolio construction
Macro and market research
Macroeconomic
variables
Key
investment
themes
Optimise
risk
allocation
Scenario generation
Key
market
forecasts
Select overall
risk level
Multiple and diversified
alpha sources
Global policy round
Minimum three scenarios
Manage
negative
outcomes
Robust
client
portfolio
We use scenarios to avoid the risks inherent in single point forecasting

9. Multi Asset investment process
Start with blank sheet of paper
10 year optimal strategy
Start with blank sheet of paper
Identify best asset classes
Anticipate and respond to events:
Dynamic Allocation
Choose the best investments
RISK MANAGEMENT
Identify best long term asset classes
RISK MANAGEMENT
Anticipate and respond to events:
Dynamic Allocation
Choose the best investments
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10. Investment Management Platform
KEN LAMBDEN*
Chief Investment Officer
INVESTMENT PROCESS
James Ross*
HEAD OF IMA (INVESTMENT MANAGER ASSISTANT)
Tony Flaherty
GLOBAL FIXED INCOME
Alan Wilde*
SPECIALIST FIXED INCOME
Ece Ugurtas*
EQUITIES
Jean-Louis Scandella*
MULTI ASSET
Marino Valensise*
CIO KOREA
John Park*
CIO ASIA
Wilfred Sit*
133 Investment Professionals**
*Members of the Investment Committee
** Investment Professionals as at 31 January 2016
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11. Baring Asset Management’s Investment resources
Portfolio Construction Groups
Multi Asset & Active/Passive
World/International
Equity
ASSET
ALLOCATION
RESEARCH
EMD & Credit
Global
Bonds
European
Equity
Korea
Bonds
EQUITY
RESEARCH
FIXED
INCOME &
CURRENCY
RESEARCH
Korea
Equities
Small Cap
Equity
Asia & China
Equity
Global Emerging Market Equity
EMEA & Frontiers Equity
Natural Resources
Structured by research and portfolio construction groups
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12. Baring Asset Management Group staff
Staff by role
Staff by location
Investment professionals
133
Investment
117
Operations 14
Infrastructure 2
Other professionals
457 21
103 98
IT and Change Management 90
Marketing & Communications 41
Sales/Client Service
104
Internal Audit 4
TOTAL
594
London
372
Asia
179
Hong Kong 75
Seoul 54
Taipei 26
Kaohsiung 2
Tokyo 22
EMEA 19
Frankfurt 12
Paris 3
Dubai
Geneva
North America 24
Boston 21
San Francisco
Toronto 1
TOTAL
594
Barings, 31 January 2016
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13. BISLDCLS\CORPORATE\SALES-MARKETING\NONE
Recent awards
2015 Korea Fund Award by KG Zeroin
Baring Hanaro Bond Fund
(Best Fixed Income Fund)
Taipei Foundation of Finance/Bloomberg
Baring Asia Balanced Fund
(Best Fund over 10 years)
2015 Best Fixed Income Manager, small fund house
Baring Asset Management Korea
Baring Europe Select Trust
Lipper Awards 2015
Baring European Equity Fund
(Best Fund over 5 years, Equity Europe)
Baring Europe Select Trust GBP Inc
(Best Fund over 10 years, Equity Europe Small and Mid Caps)
Austria, Europe, Germany, Hong Kong, Switzerland, UK
Baring Europe Select Trust EUR Inc
Taiwan
Baring German Growth Trust GBP Acc
(Best Fund over 10 years, Equity Germany)
Austria, Europe, Germany, Switzerland
The Asset
(Long-only Mixed Asset Fund Manager of the Year
– Highly commended –
Khiem Do
Barings Asia Balanced Fund
Sauren Golden Awards 2015
Very good fund management in the category Equity Materials
Duncan Goodwin
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14. BISLDCLS\CORPORATE\GENERAL-BUSINESS\NONE
Morningstar ratings
Morningstar rating™
Multi Asset products 
Baring High Dividend Equity A
Baring High Dividend Bal 60 Eq Bal (C)
Baring High Dividend Bal 60 Eq Bal (C2)
Baring High Dividend Bal 60 Eq Bal (A)
Baring RP Div 40 Fdr Bd Bal (1) (C)
Equity products
Baring European Equity Fund
Baring German Growth Trust (Class A GBP)
Baring German Growth Trust (Class I GBP)
Bond products
Baring Hanaro Bond
Five Star = in top 10% of all UK and Offshore funds
Multi Asset products 
Baring Asia Balanced Fund (Class A USD)
Equity products
Baring Asia Manufacturing Fund
Baring China A-Share Fund Plc (Class A USD)
Baring China Select Fund (Class I USD)
Baring Eastern Trust (Class A GBP)
Baring Eastern Trust (Class I GBP)
Baring Europe Select Trust (Class A GBP)
Baring Europe Select Trust (Class I GBP)
Baring Korea Feeder Fund (Class A USD)
Korea Trust (Class A GBP)
Korea Trust (Class I GBP)
Baring Latin America Fund (Class I USD)
Baring MENA Fund (Class A USD)
Baring Russia Fund (Class A USD)
Baring Value Equity (A1)
Baring Value Equity (C1)
Baring Value Equity (C2)
Baring Value Style Equity (A)
Baring Value Style Equity (C)
Baring Value Style Equity (C1)
Baring Value Style Equity (E)
Bond products
BAM World Bond & Currency Fund (Monthly distribution)
Four Star = in top 32.5% of all UK and Offshore funds
Multi Asset products 
Baring Asia Dynamic Asset Allocation Fund (Class I USD)
Baring Dynamic Capital Growth Fund (Class A GBP)
Baring Targeted Return Fund (Class I GBP)
Equity products
Baring ASEAN Frontiers Fund (Class A USD)
Baring Asia Growth Fund (Class A USD)
Baring China Select Fund (Class A USD)
Baring Eastern Europe Fund (Class A USD)
Baring Eastern Europe Fund (Class I USD)
Baring Emerging Europe Plc
Baring Europa Fund (Class A USD)
Baring Global Agriculture Fund (Class I USD)
Baring Global Agriculture Fund (Class A USD)
Baring Global Emerging Markets (Class A USD)
Baring Global Growth Trust (Class A GBP)
Baring Global Growth Trust (Class I GBP)
Baring Global Resources Fund (Class A USD)
Baring Global Resources Fund (Class I USD)
Baring Hong Kong China Fund (Class A USD)
Baring India Fund (Class A USD)
Baring Japan Growth Trust (Class I GBP)
Baring Latin America Fund (Class A USD)
Baring UK Growth Trust (Class I GBP)
Bond products
BAM World Bond Active Open
Baring China Bond (Class I USD)
Baring High Yield Bond Fund (Class A USD)
Baring High Yield Bond Fund (Class I USD)
Baring International Bond Fund (Class A USD)
Three Star = in top 67.5% of all UK and Offshore funds
Copyright © Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
As at 31 January 2016.
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15. About MassMutual An overview
Founded in 1851
Active commitment to the mutual ownership structure
Advantage of a long term investment horizon
Worldwide insurance in force of €565.4bn (US$616.7bn)
Assets Under Management €588.5bn (US$641.9bn*)
Includes institutional, mutual funds and alternative assets
Large network of employees and sales representatives around the world
Source: MassMutual Financial Group as at 31 December 2015
*Assets Under Management include assets and certain external investment funds managed by MassMutual subsidiaries, including OppenheimerFunds Inc., Babson Capital Management LLC, Baring Asset Management Limited, and Cornerstone Real Estate Advisers LLC.
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16. MassMutual and Baring Asset Management Strong ownership
Complementary product specialisation
MassMutual strengths are in US equity, fixed income and alternatives
Barings strengths are in emerging and inefficient markets, asset allocation and specialist fixed income
Opportunity for enhanced distribution of products
MassMutual offers extensive US distribution
Baring Asset Management offers international multi channel options
Access to product innovation
Access to product development opportunities of the broader organisation
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17. 250 years of open minds and uncommon perspectives.
The global nature of today’s economy means the intelligent and active asset manager needs to look across frontiers and make more connections than ever before. This requires a particular type of investor and a particular corporate culture. One that places a premium on working across borders; that values great insight and foresight; and one that rewards innovation. At Barings we have a 250 year history of considering complex but potentially rewarding opportunities. We put this thoughtfulness into understanding and delivering sustainable returns for our clients outside of the tried and tested or obvious options. The challenge of working in markets where information is hard to find and interpretation and forethought can add real value is one that we relish.
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18. BISLDCLS\CORPORATE\SALES-MARKETING\NONE
Follow Barings
Twitter: YouTube: LinkedIn: Emerging Markets: Investment community for global investors Internet: On our mobile App: Search “Barings”
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19. Important information
For Professional Investors/Advisers only. It should not be distributed to or relied on by Retail Investors. This document is approved and issued by Baring Asset Management Limited, authorised and regulated by the Financial Conduct Authority. The information in this document does not constitute investment, tax, legal or other advice or recommendation. It is not an invitation to subscribe and is for information only. Investment involves risk. The value of any investments and any income generated may go down as well as up and is not guaranteed.. Past performance is no indication of current or future performance. The performance data does not take account of the commissions and costs incurred on the issue and redemption of units. Changes in rates of exchange may have an adverse effect on the value, price or income of an investment. There are additional risks associated with investments (made directly or through investment vehicles which invest) in emerging or developing markets. Investments in higher yielding bonds issued by borrowers with lower credit ratings may result in a greater risk of default and have a negative impact on income and capital value. Income payments may constitute a return of capital in whole or in part. Income may be achieved by foregoing future capital growth. We reasonably believe that the information contained herein from 3rd party sources, as quoted, is accurate as at the date of publication. The information and any opinions expressed herein may change at any time. Companies and employees of the Baring Asset Management group may hold positions in the investment(s) concerned. Lists of locations, or location indicators on maps, are non-exhaustive. They may include locations where Barings has an office and/or where Barings has appointed a local organisation or individual to act on its behalf for certain aspects of its business. Version 12/SD Complied (London) February 2016 (M0216/34)
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