Have you suffered losses in the BRIC fund? If so, The White Law Group may be able to help recover investment losses through a FINRA arbitration claim.
According to Bloomberg, Goldman Sachs’ BRIC fund which invests in Brazil, Russia, India and China has reported 21% loss in five years through Oct 23, 2015. Goldman Sachs recently announced plans to merge the BRIC fund with a broader emerging market fund rather than liquidate to provide access to” a more diversified universe” of developing nations.
Bloomberg reports the fund’s “assets declined to $98 million at the end of September after peaking at $842 million in 2010.” Filings with the SEC indicate that the fund does not expect “significant asset growth in the foreseeable future.”
The White Law Group is investigating the liability that brokerage firms may have for recommending the BRIC Fund in recent years.
Brokerage firms that sell funds like the BRIC fund are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success, and to evaluate whether the investments are suitable in light of the client’s age, net worth, investment experience, and investment objectives. Firms that fail to perform adequate due diligence, or that make unsuitable recommendations, can be held responsible for losses in a FINRA arbitration claim.
If you suffered losses investing in the BRIC Fund and would like a free consultation with a securities attorney, please call The White Law Group at (312)238-9650.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.