The Financial Times has published an article with a statement that the concept of BRIC, based on faith in the future of Brazil, Russia, India and China, is dead, and investors drew attention to such emerging markets as the TICK group, which consists of Taiwan, India, China and South Korea.
According to the authors, the deepening recession in Brazil and the Russian Federation doesn't allow to speak about this group as the locomotive of global growth, which naturally led to the closure of Goldman Sachs BRIC funds after reducing its assets by more than $800 million to $100 million.
