0001752724-22-061839.txt : 20220315 0001752724-22-061839.hdr.sgml : 20220315 20220315103037 ACCESSION NUMBER: 0001752724-22-061839 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211231 FILED AS OF DATE: 20220315 DATE AS OF CHANGE: 20220315 EFFECTIVENESS DATE: 20220315 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARINGS CORPORATE INVESTORS CENTRAL INDEX KEY: 0000275694 IRS NUMBER: 042483041 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-02183 FILM NUMBER: 22739523 BUSINESS ADDRESS: STREET 1: C/O BARINGS LLC STREET 2: 300 SOUTH TRYON STREET, SUITE 2500 CITY: CHARLOTTE STATE: NC ZIP: 28202 BUSINESS PHONE: 704-805-7200 MAIL ADDRESS: STREET 1: C/O BARINGS LLC STREET 2: 300 SOUTH TRYON STREET, SUITE 2500 CITY: CHARLOTTE STATE: NC ZIP: 28202 FORMER COMPANY: FORMER CONFORMED NAME: BABSON CAPITAL CORPORATE INVESTORS DATE OF NAME CHANGE: 20111230 FORMER COMPANY: FORMER CONFORMED NAME: MASSMUTUAL CORPORATE INVESTORS DATE OF NAME CHANGE: 19920717 N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000275694 XXXXXXXX 811-02183 false false false N-2 BARINGS CORPORATE INVESTORS 811-02183 0000275694 549300JAOVWWRQYXE446 300 South Tryon Street Suite 2500 Charlotte 28202 US-NC US 704-805-7200 State Street Bank and Trust Company 1 Lincoln Street Boston 02111 617-786-3000 Custody and Accounting Records. N N N-2 N Clifford M. Noreen N/A Y Barbara M. Ginader N/A N Maleyne M. Syracuse N/A N Eric J. Lloyd N/A Y Susan B. Sweeney N/A N Edward P. Grace III N/A N Michael H. Brown N/A N Michael Cowart N/A 300 South Tryon Street Suite 2500 Charlotte 28202 XXXXXX N N N N N N KPMG LLP 185 00000000000000000000 N Y N N N N BARINGS CORPORATE INVESTORS 549300JAOVWWRQYXE446 N 0 0 0 N/A N N N N N/A N/A N/A N/A N N N N Barings LLC 801-241 000106006 ANDKRHQKPRRG4Q2KLR05 N DST Systems, Inc. 84-00448 21B7QCD05XOK0YTYOP98 N N N IHS Markit Ltd. 549300HLPTRASHS0E726 GB N Refinitiv US Holdings Inc. 549300NF240HXJO7N016 N PricingDirect Inc. 549300WIC0TOJ7N7GD54 N ICE Data Services, Inc. 13-3668779 Tax ID N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N MML Distributors, LLC 8-48203 000038030 00000000000000000000 0.00000000 Barings Securities LLC 8-47589 000036929 0000000000 0.00000000 MML Investors Services, LLC 8-27250 000010409 00000000000000000000 0.00000000 Flourish Financial LLC N/A N/A 00000000000000000000 0.00000000 0.00000000 CastleOak Securities, L.P. 8-65786 000125334 549300MXL7C60HZ59S65 2999392.22000000 RBC Capital Markets, LLC 8-45411 000031194 549300LCO2FLSSVFFR64 3999493.33000000 Mizuho Securities USA LLC 8-37710 000019647 7TK5RJIZDFROZCA6XF66 14998455.55000000 Citigroup Global Markets Inc. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 26514884.44000000 BofA Securities, Inc. 8-69787 000283942 549300HN4UKV1E2R3U73 27639967.76000000 J.P. Morgan Securities LLC 8-35008 000000079 ZBUT11V806EZRVTWT807 25996262.79000000 MUFG Securities Americas Inc. 8-43026 000019685 K5HU16E3LMSVCCJJJ255 23996698.33000000 Goldman Sachs & Co. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 20459901.11000000 Wells Fargo Securities, LLC 8-65876 000126292 VYVVCKR63DVZZN70PB21 19779344.58000000 Barclays Capital Inc. 8-41342 000019714 AC28XWWI3WIBK2824319 20856319.40000000 201053274.72000000 N 323286912.00000000 Common stock Barings Corporate Investors N N N N N N 1.29000000 1.61000000 15.98000000 16.68000000 true INTERNAL CONTROL RPT 2 NCEN_811-02183_62765620_1221.htm cincenmwletter4798.htm - Generated by SEC Publisher for SEC Filing

KPMG LLP

345 Park Avenue

New York, NY 10154-0102

 

Report of Independent Registered Public Accounting Firm

 

To the Shareholders and Board of Trustees of Barings Corporate Investors:

 

In planning and performing our audit of the financial statements of Barings Corporate Investors and subsidiary (collectively, the “Trust”) as of and for the year ended December 31, 2021, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Trust’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

 

Management of the Trust is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A trust’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A trust’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the trust; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and trustees of the trust; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the trust’s assets that could have a material effect on the financial statements.

 

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

 

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Trust’s annual or interim financial statements will not be prevented or detected on a timely basis.

 

Our consideration of the Trust’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted the following matter involving internal control over financial reporting and its operation that we consider to be a material weakness as defined above. This condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the financial statements of the Trust for the year ended December 31, 2021, and this report does not affect our report thereon dated March 1, 2022.

 

KPMG LLP 345 Park Avenue New York, NY 10154-0102 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

 

 
The Trust’s controls in place were not designed with sufficient precision to identify the misapplication of specific inputs used in the fair valuation determination of certain investments as of December 31, 2021, resulting in an incorrect valuation of an investment, and the misstatement of the Trust’s Net Asset Value.

 

This report is intended solely for the information and use of the management and the Board of Trustees of the Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

 

\s\ KPMG LLP

 

New York, New York March 1, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NOTE FROM REGISTRANT: Registrant is developing a remediation plan.