“The Goldman Sachs N-11 Equity Fund allows investors to access markets that together constitute the next set of large-population countries beyond the BRICs through a single equity investment,” said Jim O’Neill, chairman of Goldman Sachs Asset Management. “Driven by attractive demographics, rising income and increased domestic consumption, the N-11 countries could become significant contributors to global growth in the next decade and beyond.”
O’Neill developed the idea for the fund along with the firm’s global economics, commodities and strategy research team. The team will manage the fund, which is benchmarked against the MSCI GDP Weighted N-11 ex Iran Index.