REPEAT--Investors desert BRIC funds due to poor returns, weak economic growth
(Repeats late Tuesday item without changes)
* BRIC funds' total assets a quarter of 2010 levels
* Drop forces managers to close funds or rethink strategy
* Brazil, Russia, China equity markets underperform
* India does better but government struggling to reform
* BRIC shares more volatile than broader emerging stocks
By Sujata Rao and Saikat Chatterjee
LONDON/HONG KONG, Nov 11 (Reuters) - Specialist funds dedicated to the once-vaunted BRIC quartet of emerging markets face a bleak future, as many investors have pulled out due to years of collective underperformance by the bourses of Brazil, Russia, India and China.
The sharp decline in assets is forcing managers to close BRIC funds or radically rethink their strategies for the four largest emerging economies. These include Goldman Sachs, whose then chief economist Jim O'Neill coined the acronym in 2001. Continuación...