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Thursday, July 27, 2006|
A 'BRIC' of Gold
Goldman Sachs has made a foray into the emerging market investment business. The investment banks's asset management arm just launched the Goldman Sachs BRIC Fund, Reuters reported Tuesday.
The new fund will invest primarily in companies in the "BRIC" countries: Brazil, Russia, India and China. However, the fund will also invest in companies that, despite being outside of the BRIC countries, could benefit from BRIC growth, Maria Gordon, co-head of global emerging markets equity at Goldman Sachs Asset Management, told Reuters.
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