BEE.L Share News (BEE)

LONDON (Alliance News) - Baring Emerging Europe PLC Thursday said its net asset value per share fell in the first half of its financial year to the end of March on the back of the falling oil price and difficult conditions in the Russian market.

The fund said its net asset value per share fell to 606.04 pence at the end of March, down from 695.2 pence at the end of September 2014 and down from 717.17 pence at the end of March a year ago.

The net asset value of the fund was down 9.9% in the half-year, compared with an 11% fall in its MSCI EM Europe 10/40 Index benchmark. The fund was hit by a sharp drop in net asset value in the first quarter to the end of December, hit by the falling oil price and the sanctions imposed on Russia over its actions in Ukraine, which hit macroeconomic conditions in the country.

Shares in the fund were untraded Thursday, having last traded at 585.00 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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