Emerging-markets star, 'BRIC' coiner O'Neill to exit

GSAM chairman pegged emerging markets as global drivers in '01

Feb 5, 2013 @ 3:50 pm

By Jason Kephart

Jim O'Neill, the man who put emerging markets on the map, is stepping down as chairman of Goldman Sachs Asset Management later this year. The company has not announced a replacement.

Mr. O'Neill joined Goldman in 1995. His biggest moment came in 2001 when he put the spotlight on emerging markets and famously coined the “BRIC” acronym for Brazil, Russia, India and China, which he saw as the drivers of global growth.

His call turned out to be dead-on. Over the past 10 years, emerging markets, as measured by the MSCI Emerging Markets Index, have returned more than 270%, while the U.S., as measured by the S&P 500, has returned less than 30%.

In 2005, Mr. O'Neill looked beyond the BRIC countries and labeled Bangladesh, Egypt, Indonesia, Iran, Korea, Mexico, Nigeria, Pakistan, the Philippines, Turkey and Vietnam as the “next 11” countries to be growth leaders.

Goldman launched its N-11 Equity Fund (GSYAX) in 2011, and it's off to a good start. The fund had a 24% return in 2012, which ranked it among the top 15% of emerging-markets funds, according to Morningstar Inc.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Why broker-dealers are on a roll

Deputy editor Bob Hordt and senior columnist Bruce Kelly discuss last year's bounce-back for IBDs.

Latest news & opinion

Top 10 IBDs ranked by revenue

These independent broker dealers generated the most revenues in 2017.

8 podcasts advisers listen to when they aren't working

Listening to podcasts for the fun of it.

UBS continues to cut loans to recruits, while increasing compensation to brokers

The wirehouse reduced recruitment loans 20% and increased bonus loans 68% in the first quarter.

Things are looking up: IBDs soared in 2017

With revenue up, interest rates rising and regulation easing, IBDs are soaring.

SEC advice rule may give RIAs leg up over broker-dealers

Experts say advisers will be able to point to their role as fiduciaries as a differentiator in the advice market.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print