Goldman BRIC Fund Among Most Hurt in Commodities Selling
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Emerging-markets funds managed by Goldman Sachs Group Inc. and Franklin Resources Inc. were among the U.S.-registered mutual funds that fell the most in this week’s commodities selloff.
The $831 million Goldman Sachs BRIC Fund and the $825 million Templeton BRIC Fund, which focus on Brazil, China, India and Russia, both dropped 5.7 percent in the week ended yesterday. The funds, from New York-based Goldman Sachs and Franklin Resources in San Mateo, California, were the biggest losers among diversified equity funds with more than $500 million in assets and at least 20 percent in energy or basic materials stocks, according to data compiled by Bloomberg.