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Goldman's BRIC Era Ends As Fund Folds After Years Of Losses

TedTed
in Fund Discussions
FYI: The BRIC era is coming to an end at Goldman Sachs Group Inc.

The bank’s asset-management unit folded its money-losing BRIC fund, which invests in Brazil, Russia, India and China, and merged it last month with a broader emerging-market fund. Goldman Sachs pulled the plug on the nine-year-old product because it doesn’t expect “significant asset growth in the foreseeable future,” according to a filing to the U.S. Securities and Exchange Commission.
Regards,
Ted
http://www.bloomberg.com/news/articles/2015-11-08/goldman-s-bric-era-ends-as-fund-closes-after-years-of-losses

Comments

  • VintageFreakVintageFreak
    So BRIC was a fad sold to so many investors only to fall flat and now Goldman is saying it will not work going forward. But it never worked going backward either, except for Goldman who collected fees.

    Seriously, what an occupation. What a job. Now they will start selling JUNK - Japan + United Kingdom. Rinse, Repeat.
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