In 2001, Goldman Sachs' chief economist Jim O'Neil coined the term BRICs to describe four of the most important emerging-market economies: Brazil, Russia, India and China. Today we believe the long-term outlook for these economies is stronger than ever, presenting an attractive way for investors to increase their emerging-market exposure.
In fact, our Global Investment Research team believes that over the next few years, the BRIC countries are likely to grow faster than other emerging markets and at a significantly higher rate than the developed economies. By 2032, we estimate that the BRIC economies could rival the G7. Indeed, over the last decade, the MSCI BRIC Index returned 276% (cumulative), outperforming the MSCI Emerging Markets Index by 162% and contrasting sharply with the 2% (cumulative) increase in the MSCI World Index for the decade ending December 2009.
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