BNP Paribas merges away BRIC fund

Fund launched in 2006

BNP Paribas Investment Partners is merging its Parvest Equity BRIC fund into the Parvest Equity World Emerging fund, effective on 7 October.

Launched in 2013, the Parvest Equity World Emerging fund is $796m in size while the BRIC fund, which launched in 2006, is considerably smaller at only $66m. Rather than a wider global emerging markets remit, BRIC funds primarily invest in Brazil, Russia, India and China. The firm had previously said it was hard to sell the fund to institutional clients. Both funds are managed by Don Smith, chief investment officer for GEM equities, and the Boston-based team. The newly-merged fund will be available in more countries than the former BRIC fund, enabling a wider range of clients to acc...