Jim O’Neill, who coined the term “Bric”, is about to further redefine emerging markets and will explain the new approach to clients this month.
The chairman of Goldman Sachs Asset Management plans to add Mexico, South Korea, Turkey and Indonesia into a new grouping with the Brics – Brazil, Russia, India and China – that he dubs “growth markets”. “Its just pathetic to call these four emerging markets,” he told the Financial Times.
The new approach will involve looking at fresh ways to measure exposure to equity markets beyond market capitalisation – for example, looking at gross domestic product, corporate revenue growth and the volatility of asset returns.
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