Nov
08
Goldman’s BRIC Era Ends as Fund Folds After Years of Losses
By-
BRIC fund loses 21% in five years, leading to investor exodus
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Acronym-based investment strategy comes under greater scrutiny
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 filingto the U.S. Securities and Exchange Commission…
Goldman’s BRIC Era Ends as Fund Folds After Years of Losses
