Investors are losing interest in the BRICs

In a decline that has its seeds in a process that began more than a decade ago, the BRICS concept has hardly lived up to expectations, says Morningstar. The initial idea – of bringing together the countries with the highest economic growth potential – has run up against the disappointing performance of Brazil and Russia. More recently, China entered deflation and is facing a real estate crisis that fund managers way beyond the country feel obliged to keep an eye on.