# Barings Global Leaders Fund
Appendix 4 – Significant Changes in Portfolio Composition (Unaudited) (continued)
For the financial year ended 30 April 2020
|  | Cost |  | Proceeds |
| --- | --- | --- | --- |
| Purchases | US$'000 | Sales | US$'000 |
| Northern Trust Global Funds - US Dollar Fund | 24,212 | Northern Trust Global Funds - US Dollar Fund | 21,993 |
| Northern Trust Global Funds - Sterling Fund | 3,891 | Northern Trust Global Funds - Sterling Fund | 3,652 |
| Northern Trust Global Funds - Euro Liquidity Fund | 3,668 | Northern Trust Global Funds - Euro Liquidity Fund | 2,967 |
| PayPal | 2,198 | Microsoft | 2,281 |
| Koninklijke Philips | 1,658 | Raytheon | 1,651 |
| Amazon.com | 1,599 | Nintendo | 1,566 |
| Unilever | 1,572 | Prudential | 1,252 |
| Amadeus IT | 1,479 | Alibaba | 1,178 |
| Wal-Mart de Mexico | 1,086 | Honeywell International | 1,166 |
| Compass | 1,067 | Mastercard | 1,142 |
| Walt Disney | 1,033 | Thermo Fisher Scientific | 1,088 |
| MEIJI | 975 | Union Pacific | 1,031 |
| Prosus | 923 | Carnival | 932 |
| Alphabet | 920 | Taiwan Semiconductor Manufacturing | 882 |
| Mail.Ru GDR | 911 | X5 Retail GDR | 823 |
| Nintendo | 901 | Naspers | 817 |
| UnitedHealth | 881 | Netflix | 813 |
| Sony | 879 | Samsung Electronics Pref | 807 |
| Church & Dwight | 846 | Boston Scientific | 806 |
| Dollarama | 845 | Mitsubishi UFJ Financial | 794 |
| AON | 728 | EOG Resources | 698 |
| Reckitt Benckiser | 711 | Sberbank of Russia | 658 |
| Siemens | 706 | Yamaha Motor | 631 |
|  |  | AIA | 625 |
|  |  | Cooper Cos | 595 |

Listed above are aggregate purchases of securities exceeding one percent of the total value of purchases for the financial year ended 30 April 2020 and aggregate sales of securities greater than one percent of the total value of sales for the financial year ended 30 April 2020.
At a minimum, the largest 20 purchases and sales are disclosed, if applicable.

Translation (ENFR, 2020-04-30):
# Barings Global Leaders Fund
Annexe 4 – Changements importants dans la composition du portefeuille (données non auditées) (suite) Pour l’exercice clos le 30 avril 2020
|  | Coût |  | Produit |
| --- | --- | --- | --- |
| Achats | 000 USD | Ventes | 000 USD |
| Northern Trust Global Funds - US Dollar Fund | 24 212 | Northern Trust Global Funds - US Dollar Fund | 21 993 |
| Northern Trust Global Funds - Sterling Fund | 3 891 | Northern Trust Global Funds - Sterling Fund | 3 652 |
| Northern Trust Global Funds - Euro Liquidity |  | Northern Trust Global Funds - Euro Liquidity |  |
| Fund | 3 668 | Fund | 2 967 |
| PayPal | 2 198 | Microsoft | 2 281 |
| Koninklijke Philips | 1 658 | Raytheon | 1 651 |
| Amazon.com | 1 599 | Nintendo | 1 566 |
| Unilever | 1 572 | Prudential | 1 252 |
| Amadeus IT | 1 479 | Alibaba | 1 178 |
| Wal-Mart de Mexico | 1 086 | Honeywell International | 1 166 |
| Compass | 1 067 | Mastercard | 1 142 |
| Walt Disney | 1 033 | Thermo Fisher Scientific | 1 088 |
| MEIJI | 975 | Union Pacific | 1 031 |
| Prosus | 923 | Carnival | 932 |
| Alphabet | 920 | Taiwan Semiconductor Manufacturing | 882 |
| Mail.Ru GDR | 911 | X5 Retail GDR | 823 |
| Nintendo | 901 | Naspers | 817 |
| UnitedHealth | 881 | Netflix | 813 |
| Sony | 879 | Samsung Electronics Pref | 807 |
| Church & Dwight | 846 | Boston Scientific | 806 |
| Dollarama | 845 | Mitsubishi UFJ Financial | 794 |
| AON | 728 | EOG Resources | 698 |
| Reckitt Benckiser | 711 | Sberbank of Russia | 658 |
| Siemens | 706 | Yamaha Motor | 631 |
|  |  | AIA | 625 |
|  |  | Cooper Cos | 595 |

La liste ci-dessus rassemble le total des achats de titres dépassant 1% de la valeur totale des achats durant l’exercice clos le 30 avril 2020 et le total des ventes de titres dépassant 1% de la valeur totale des ventes durant l’exercice clos le 30 avril 2020.
Au minimum, les vingt achats et ventes les plus importants sont indiqués, le cas échéant.