From the USA Today (link):
Emerging markets built big gains from BRIC this year ” Brazil, Russia, India and China.
The average emerging markets fund gained 12.6% in the first three months of 2006. The BRIC countries have done even better, especially when translated into U.S. dollars.
“We’re big believers in the BRIC story,” says Donald Elefson, manager of Excelsior Emerging Markets fund.
Also can see “Dreaming with BRICs – the Path to 2050,” thesis on BRIC by Goldman Sachs, who started using the term.
