<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>NCEN_2223691951353059.txt
<TEXT>


KPMG LLP
Two Financial Center 60 South Street
Boston, MA 02111




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, 2020, 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 consolidated 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 trusts; (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 trusts are being made
only in accordance with authorizations of management and
Trustees of the trusts; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of a 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 no
deficiencies in the Trust's internal control over financial
reporting and its operation, including controls over safeguarding
securities that we consider to be a material weakness as
defined above as of December 31, 2020.



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.






This report is intended solely for the information and use of
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
Boston, Massachusetts
March 1, 2021













































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