Jim O’Neill ushered in a decade-long
investment boom in 2001 when he coined the term BRICs for the largest emerging
markets. This year, a lesser-known acronym that the Goldman Sachs Asset
Management chairman is helping to popularize has taken over for many investors, Bloomberg reports..
The so-called MIST nations -- Mexico,
Indonesia, South Korea and Turkey -- are the four biggest markets in the
Goldman Sachs N-11 Equity Fund. (GSYAX) Opened in February, 2011 to invest in
what O’Neill considers the next big 11 emerging markets, the fund has climbed
12 percent this year, compared with a 1.5 percent gain in Goldman Sachs’s fund
for Brazil, Russia, India and China.
“We see
steady inflows into the Next 11 fund each week,” O’Neill, 55, said in a phone
interview from London. “It hasn’t been affected by the disappointment in the
U.S. and obviously the European markets especially, and all the disappointment
in some of the BRIC markets….”
Read all aabout it at http://www.bloomberg.com/news/2012-08-07/goldman-sachs-s-mist-topping-brics-as-smaller-markets-outperform.html
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