Bric concept loses momentum with GEM managers says S&P

The Bric concept has lost momentum according to emerging market managers in Standard & Poor's annual Global Emerging Markets review.

S&P says, having been the darling of the market, the Bric concept is not seen positively by a number of managers who see the funds as marketing-led vehicles with high fees and constrained mandates. However, the report, led by analyst Roberto DeMartini, also found those four countries are likely to be among the main engines of global growth. “In terms of investable opportunities, Bric countries currently represent around 40% of most global emerging market indices, up from 30% only three years ago,” says DeMartini.   “However, one view that seems to be gaining momentum among managers ...