“The BRIC acronym didn’t make any sense in the first place because you just randomly group four countries which are completely different,” Xavier Hovasse, who oversees $2.3 billion emerging market assets at Carmignac Gestion, told Bloomberg. Signalling the end of an era , Goldman Sachs has quietly pulled the plug on its loss - making hedge fund , after losing 40 % in five years , by merging it with a broader emerging market fund , according to a 2011 Securities and Exchange Commission filing ; the company 's reason was that it did not anticipate " asset growth in the foreseeable future " .
Signalling the end of an era , Goldman Sachs has quietly pulled the plug on its loss - making hedge fund , after losing 40 % in five years , by merging it with a broader emerging market fund , according to a 2011 Securities and Exchange Commission filing ; the company 's reason was that it did not anticipate " asset growth in the foreseeable future " .