Keep up with the news by installing RT’s extension for . Never miss a story with this clean and simple app that delivers the latest headlines to you.

 

Breaking news

One passenger found dead in sinking ferry - report

Are MIST countries becoming the new BRICS?

Published time: August 07, 2012 18:36
Edited time: August 07, 2012 22:36
Are MIST countries becoming the new BRICS?

Are MIST countries becoming the new BRICS?

For many investors, Mexico, Indonesia, South Korea and Turkey have taken over from the BRICS becoming the four biggest emerging markets, and growing faster than their major rivals.

BRICS inventor Jim O’Neil from Goldman Sachs proposed the new term MIST term for Mexico, Indonesia, South Korea and Turkey, which are the four biggest markets in the Goldman Sachs N-11 Equity Fund.

The Fund was launched in February, 2011 to invest in what O’Neill considers the next big 11 emerging markets, and has climbed 12% this year, compared with a 1.5% growth of Goldman Sachs’s fund for Brazil, Russia, India and China.

“We see steady inflows into the Next 11 fund each week,” Jim O’Neill from Goldman Sachs told Bloomberg. “It hasn’t been affected by the disappointment in the US and obviously the European markets especially, and all the disappointment in some of the BRIC markets.”

The MIST economies more than doubled during the last decade, according to Bloomberg, and continue surging despite global economy concerns. Mexico’s IPC Index has climbed 11% this year, comparing with a 2.8% growth of Brazil’s Bovespa. Meanwhile Turkey’s ISE National 100 gained 28 percent, compared to 13% gain of BSE India Sensitive Index and 2.6% gain in Russia’s MICEX.

Though the MIST nations outperformed the BRICS in pace of growth, its economic output still can’t approach the BRICS. Total GDP for the MIST nations was $3.9 trillion last year, compared to $13.5 trillion of BRIC economies and $7.3 trillion for China alone.

Besides the MIST nations, the N-11 countries include Bangladesh, Egypt, Nigeria, Pakistan, the Philippines, Vietnam and Iran. However, Goldman Sachs says its fund doesn’t invest in Iran because it isn’t an open market for foreign investors.

Comments (1)

 

George Rizk 22.03.2013 16:33

MIST OR BRIC, it does not matter, all these wonderful nations with good leadership can teach the West one thing: have policies to advance their economic interest. America's election process is for sale at the highest bidders, and consequently NATO!

The most corrupting thing in the West is the election process in the US, and the dominance of the media by one group that is so focused on Israel's interest, and Most recently the Saudi interest.

Add comment

Authorization required for adding comments

Register or

Name

Password

Show password

Register

or Register

Request a new password

Send

or Register

To complete a registration check
your Email:

OK

or Register

A password has been sent to your email address

Edit profile

X

Name

New password

Retype new password

Current password

Save

Cancel

Follow us