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The fund is a long-only U.S. mutual fund that invests in equity securities in the “Next Eleven” (N-11) countries including Bangladesh, Egypt, Indonesia, Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey and Vietnam. The “Next Eleven” (N-11) concept was established by Jim O’Neill and the Goldman Sachs Global Economics, Commodities, and Strategy Research Team in 2005 to identify fast-growing countries that could potentially follow the BRIC economies in having a major impact on the world, according to a press release. The Goldman Sachs N-11 Equity Fund utilizes the MSCI GDP Weighted N-11 ex Iran Index to benchmark the Fund’s performance. This new benchmark is based on the current GDP of the N-11 countries . In addition to Class A shares, the fund is also offering Class C shares, both with $1,000 minimum initial investments. The fund also offers Institutional Shares and Class IR shares. GSAM’s Global Emerging Markets Equity team will manage the Fund. “The Goldman Sachs N-11 Equity Fund allows U.S. 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 GSAM, in the announcement. “ 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.” More information is at http://www.goldmansachsfunds.com.
The fund is a long-only U.S. mutual fund that invests in equity securities in the “Next Eleven” (N-11) countries including Bangladesh, Egypt, Indonesia, Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey and Vietnam. The “Next Eleven” (N-11) concept was established by Jim O’Neill and the Goldman Sachs Global Economics, Commodities, and Strategy Research Team in 2005 to identify fast-growing countries that could potentially follow the BRIC economies in having a major impact on the world, according to a press release.
The Goldman Sachs N-11 Equity Fund utilizes the MSCI GDP Weighted N-11 ex Iran Index to benchmark the Fund’s performance. This new benchmark is based on the current GDP of the N-11 countries . In addition to Class A shares, the fund is also offering Class C shares, both with $1,000 minimum initial investments. The fund also offers Institutional Shares and Class IR shares.
GSAM’s Global Emerging Markets Equity team will manage the Fund.
“The Goldman Sachs N-11 Equity Fund allows U.S. 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 GSAM, in the announcement. “ 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.”
Rebecca Mooreeditors@plansponsor.com