Baring Global Aggregate - HK notice D8v2 update Form of Direction

IMPORTANT: This document is important and requires your immediate attention. If you
have any questions about the content of this document, you should seek independent
professional advice. The Directors of the Managers accept responsibility for the accuracy
of the contents of this letter.
Date: 27 February, 2015
To: The Unitholders of Baring Global Aggregate Bond Fund (the “Fund”), a fund of Baring
Global Umbrella Fund
Dear Unitholder,
We wish to advise that following a review of the Fund’s operations, a decision has been made by the
Managers to terminate the Fund as it is not considered economically viable to continue its operation due to
its small asset size (as at 13 November 2014 the assets of the Fund were at US$6,648,190.29). A smaller
asset base is more susceptible to market movements and the effect of subscriptions and redemptions to a
Fund. In light of the above, the Managers consider that it is in the best interest of unitholders to terminate the
Fund.
The total expense ratio (“TER”) of the Fund for the twelve months ending 30 April 2014 was 1.72%. The TER
is equal to the ratio of a sub-fund’s total operating costs to its average net asset value. There are no
outstanding unamortised preliminary expenses.
We hereby give you notice of the closure of the Fund pursuant to Clause 38(C) of the Amended and
Restated Trust Deed dated 11 August 2011 (as amended) which provides that the Fund may be terminated if
on any date the net asset value of the Fund shall be less than US$20,000,000 and that all of your Units in
the Fund will be compulsorily redeemed on 27 April 2015 (the “Compulsory Redemption Date”).
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If you still remain as a Unitholder in the Fund as at the Compulsory Redemption Date, the net proceeds of
redemption will be returned to you in accordance with the provisions of the Prospectus (and Highlights in the
case of the Hong Kong resident Unitholders), i.e. normally within three Business Days (“Business Day” being
any day other than a Saturday or Sunday on which banks in both Dublin and London are open for business,
excluding days when due to public holidays in Hong Kong, payment in the currency of the relevant Class of
Unit cannot be settled) from the Compulsory Redemption Date.
The effective date of termination of the Fund will be 27 April 2015. With immediate effect, the Managers will
no longer accept subscription for units in the Fund and the Fund is no longer allowed to be marketed to the
public in Hong Kong.
Please note that the termination cost of the Fund is estimated to be US$82,282.18 and such costs have
been reflected in the net asset value of the Fund following board approval of the proposal to terminate the
Fund.
Under current law and practice in Hong Kong, unitholders will not be liable for Hong Kong tax in respect of
any income or gains made on the issue, redemption, conversion or other disposal in Hong Kong of units,
save that persons carrying on in Hong Kong a business of trading securities may be subject to Hong Kong
profits tax if the gains form part of such business. Individual unitholders should seek independent advice on
taxation and other consequences of the termination referred hereto.
Please note that you may wish to take the opportunity to switch your holdings, free of charge to share/units
1
of the same class in another alternative Barings fund (available for retail distribution in your jurisdiction) as
set out in the attached Form of Direction, between now and the last Dealing Day on 27 April 2015 (the “Last
Dealing Day”). If you wish to do so, please complete Option 1 on the Form of Direction and return to the
address listed below by no later than 5.00pm (Hong Kong time) or 12.00 noon (Dublin time) on the Last
Dealing Day. Should you wish to switch to another alternative Barings fund, please refer to the offering
documents of the alternative Barings fund before you invest as the investment objective as well as risk
profiles of such funds may be different to the Fund. Full details of the funds can be found on the investment
2
Managers’ website at www.barings.com , or from your usual contact at Barings. If you have any queries
about the switching of shares/units into other Barings' funds, please contact the Hong Kong Representative
(details of the contact information are set out below).
1
SFC authorisation is not a recommendation or endorsement of a fund nor does it guarantee the commercial merits of
the fund or its performance. It does not mean the fund is suitable for all investors nor is it an endorsement of its
suitability for any particular investor or class of investors.
2
Please note that the website has not been reviewed by the Securities and Futures Commission (“SFC”) and may
contain information of funds which are not authorised by the SFC.
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Please note that this letter is not an offer to subscribe for shares/units in any such funds nor does it
constitute investment advice in relation to any such subscription. We always recommend that you consult
with your own legal, tax and financial advisers for independent advice in relation to any such investment.
Please note that you may also redeem your Units free of charge (in accordance with the normal redemption
procedures set out in the Highlights of the Fund) on any Dealing Day up to 5.00pm Hong Kong time or 12.00
noon (Dublin time) on the Last Dealing Day. If you wish to do so, please complete Option 2 on the Form of
Redemption and return to the address listed below.
If you still remain as a Unitholder on the Compulsory Redemption Date, your Units will be automatically
redeemed on the Compulsory Redemption Date. Investors will receive redemption proceeds in proportion to
their respective interests in the Fund normally within three Business Days from the Compulsory Redemption
Date, i.e. on or around 30 April 2015.
Please note that as the Fund will be winding down, it is likely that a high proportion of the Fund may be held
in cash assets up until the Compulsory Redemption Date as the Investment Manager will endeavour to
maximise liquidity in the portfolio.
Should you have any questions relating to these matters please contact your usual contact at Barings or;
Hong Kong investors should contact Baring Asset Management (Asia) Limited, the Hong Kong
Representative, Patrick Tam, by telephone on (852) 2841 1411, by e-mail at [email protected], or by
letter at the following address: 19th Floor, Edinburgh Tower, 15 Queen’s Road Central, Central, Hong Kong.
The Amended and Restated Trust Deed and the Highlights of the Fund are available for inspection, free of
charge, at the office of the Hong Kong Representative.
Yours faithfully,
________________________________
For and on behalf of,
Baring International Fund Managers (Ireland) Limited
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Baring Global Aggregate Bond Fund (the “Fund”)
FORM OF DIRECTION
I, being an investor in the Fund, hereby confirm that I have read the letter dated 27 February 2015 which
explains the options I have regarding my investment in the Fund. Having read this letter I choose the
following option by adding a cross in one of the boxes below:-
 OPTION 1 – SWITCH ALL OF MY INVESTMENT IN THE FUND INTO AN SFCAUTHORISED FUND WITHIN THE BARINGS’ FUND RANGE:
By selecting option 1, I/we confirm that I/we have read (and retained a copy of) the Product Key Facts
Statement (“KFS”) and Hong Kong offering document (which are accompanied by the relevant fund’s most
recent audited annual report and accounts together with its semi-annual report if published after the annual
report) relating to the Barings’ fund stated below.
Note: You can obtain a copy of the KFS, Hong Kong offering document, most recent audited annual report
and accounts and semi-annual report if published after the annual report of the Fund and each of the
Barings’ funds which are authorised by the SFC from the Baring website www.barings.com  or if you do not
have access to the website please contact the Hong Kong Representative and we will send you a copy of
the relevant KFS, relevant Hong Kong offering document, most recent audited annual report and accounts
and semi-annual report if published after the annual report . If I/we have received the KFS and the relevant
Hong Kong offering document, most recent audited annual report and accounts and semi-annual report if
published after the annual report in electronic form, I/we hereby represent that I/we have regular access to
the internet. I/we acknowledge that I/we have been offered the choice of receiving the KFS and relevant
Hong Kong offering document, most recent audited annual report and accounts and semi-annual report if
published after the annual report on paper and in electronic form and hereby specifically consent to
receiving the KFS, relevant Hong Kong offering document, most recent audited annual report and accounts
and semi-annual report if published after the annual report in electronic form by way of accessing the latest
version of the document online at www.barings.com*. The KFS and the relevant Hong Kong offering
documents
will
be
available
at
http://www.barings.com/hken/RetailInvestors/FundInformation/Fundslist/index.htm  and I/we hereby confirm
that I/we have also been notified electronically of this website address and the place where on the website

Please note that the website has not been reviewed by the SFC and may contain information of funds which are not
authorised by the SFC.

This website has not been reviewed by the SFC.
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the KFS, the relevant Hong Kong offering documents, most recent audited annual report and accounts and
semi-annual report if published after the annual report can be accessed.
I/We confirm that I/we would like to switch all of my investment in the Fund into the following SFC authorised
fund within the Barings’ fund range:
Sub-Fund Name:
Share Class Name:
ISIN (if known):
 OPTION 2 - REDEEM MY UNITS IN THE FUND AND RECEIVE THE CASH:
Authorisation
Full Name (capitals): …………………………………………………………………………………
Address: ……………………………………………………………………………………………….
Account Number (if known): …………………………………………………………………………
Number of units (if known): ………………………………………………………….………………
Signature: .............................. Signature (for joint holder, if applicable): ..............................
Date: ...................................... Date:......................................................................................
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IF YOU DO NOTHING
If you do not respond to us before 5pm (Hong Kong time) or 12 noon (Dublin time) on 27 April 2015
(the “Last Dealing Day”), you will receive the proceeds from the sale of the assets of the Fund in the
winding up.
We expect the winding-up to be completed as soon as practicable following the commencement of
termination on 27 April, 2015. At the time when the winding up is completed, we will make a final
distribution of any balance remaining net of a provision for any further expenses of the Fund, though none is
expected. The proceeds could comprise of both your return of capital and income distribution. Should any
income be payable income tax will be deducted. These will be detailed separately in the voucher
accompanying payment.
NOTES:
1. Please indicate with a cross in the appropriate box above which option you wish to pursue (you can only
make one cross.
2. To be valid, this form must be completed and received by Baring International Fund Managers (Ireland)
Limited, C/O Northern Trust International Fund Administration Services (Ireland) Limited, Georges Court, 5462 Townsend Street, Dublin 2, Ireland by no later than 5pm (Hong Kong time) or 12 noon (Dublin time) on
the Last Dealing Day.
3. Unless otherwise indicated your Distribution Mandate instructions will apply to the new fund.
4. Any alteration to this form must be initialled to be valid.
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