Maria Merricks assesses industry reaction to Jim O'Neill's most recent investment neologism.
Pioneers of the BRIC and Next 11 groupings, Goldman Sachs Asset Management is partial to an investment concept. Its latest – a hybrid of eight economies from its existing groupings – has received mixed reviews from industry commentators. Goldmans claims Brazil, Russia, India, China, Mexico, Korea, Turkey and Indonesia have already evolved to such an extent it is “insulting” to continue referring to them as emerging markets. Instead, it has reclassified them as “growth markets”, the idea being they are now among the world’s most important economies in terms of global growth. A growth m...
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