Barings Asset Management

Investment Update on the Barings Frontier Markets Fund Feb 2014
Recent Performance
2013 was a positive year for frontier markets, with the MSCI Frontier Markets index returning, in US dollar terms, 27.1% on a total return basis.* This performance was driven by a number of factors, with inflows into the asset class remaining strong, in contrast to the outflows witnessed in emerging markets. For the year to date, the index has risen 1.4% in US dollar terms on a total return basis, which compares to a fall of 8.3% for the MSCI Emerging Markets Index.*