Abstract: The present invention relates to a reduced fat bakery emulsion comprising 39-65 wt. % of a continuous fat phase and 35-61 wt. % of a dispersed aqueous phase, said aqueous phase having the following composition: 60-80 wt. % of water; 18-40 wt. % of maltodextrin with a DE in the range of 1-5; 0-5 wt. % of other hydrocolloids; 0-6 wt. % of dissolved components selected from acids, salts and combinations thereof; 0-2 wt. % of other edible ingredients; said continuous fat phase having the following composition: 94-99.5 wt. % of triglycerides; 0.5-5 wt. % of emulsifier; 0-2 wt. % of other edible ingredients; wherein the fat phase is characterized by the following solid fat profile: 25%?N20?50; 15%?N30?35%; 8%?N35?30%. The bakery emulsion of the present invention enables the preparation of low fat puff pastries of high quality.