After Jim O’Neill of Goldman Sachs coined the acronym “BRIC” to refer to top emerging markets Brazil, Russia, India and China, he has now popularized “MINT” – Mexico, Indonesia, Nigeria and Turkey as a second category.
The rich-poor gap is widening at a slower pace, but wealth is still concentrated in a small number, survey center director Gan Li was quoted as saying.
Global assets under management (AuM) will rise to around $101.7 trillion by 2020, from a 2012 total of $63.9 trillion, says a PwC report released today. This represents a compound annual growth rate (CAGR) of nearly 6%.
The investment bank said that while it's important to remember that some countries in the region suffer the worst cases of poverty, the rise of Asian wealth which powers luxury sales, for example, has been stupendous.
According to Preqin’s Hedge Fund Analyst, hedge funds made a loss of 0.17% in January 2014, the benchmark’s first month in negative territory since August 2013.