Fund Research

Baring Emerging Europe

Last update 09 October 2018
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Baring Emerging Europe offers capital growth and a dividend yield from a portfolio of stocks in developing Europe, mainly Russia, Poland and Turkey.

The manager, Matthias Siller, aims to outperform his benchmark through stock selection, and has achieved this over the medium term as shown by strong alpha figures over a five-year period.

The dividend has been given greater emphasis since the start of 2017, with a substantial increase to the payout last year and a 46% increase in the interim dividend this year. The trust can pay income from capital and is currently yielding 4.6%.

Following a poor period for the region and emerging markets the trust is on a significant discount, although the board has the intention and ammunition to defend a 12% limit over the medium term. Buybacks and a tender offer arrangement should help reduce the downside risk to the discount.

After the announced winding up of BlackRock Emerging Europe, the trust will be the only specialist option in this space.

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Fund History: Baring Emerging Europe

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