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Goldman Sachs Ends BRIC Investment Fund

Goldman Sachs headquarters, center, is shown, Thursday, Oct. 15, 2015 in New York. Goldman Sachs recently shut down its BRIC investment fund. (Mark Lennihan/AP Photo)
Goldman Sachs headquarters, center, is shown, Thursday, Oct. 15, 2015 in New York. Goldman Sachs recently shut down its BRIC investment fund. (Mark Lennihan/AP Photo)

Goldman Sachs recently shut down its BRIC investment fund, and it’s being called the end of an era. The investment banking firm explained the decision, saying in an SEC filing that it “does not expect the [fund] to experience significant asset growth in the foreseeable future.”

In 2001, a Goldman executive used the term BRIC to refer to Brazil, Russia, India and China. South Africa was later added to make it BRICS, and the grouping influenced thinking about investments in the developing world.

CBS business analyst Jill Schlesinger speaks with Here & Now‘s Jeremy Hobson about what the end of this era means.

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