Reuters – Fund firm Castlestone Management plans to launch a portfolio investing in emerging markets from the Philippines to Iran, hoping they will show the same rapid growth seen in China and India in recent years. The Next 11 Emerging Markets fund, set to launch around the start of October, is based on a Goldman Sachs idea of the 11 countries most likely to follow the rapid growth of BRIC countries Brazil,Russia, India and China.
Around 10 percent of the fund’s assets will be invested in stocks in South Korea; 65 percent in Mexico, Indonesia, Turkey and the Philippines; 20 to 25 percent in Egypt, Vietnam, Pakistan and Nigeria; and 5 percent in Bangladesh and Iran, the fund’s manager, Arrash Zafari, told Reuters.
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