BRIC Dominance Ebbs as State Meddling Means Equities Trail World

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Stocks in the biggest developing markets are lagging behind global equities for a record third year as faster economic growth proves no lure for investors amid concerns over government interference in markets. The MSCI BRIC Index of shares in Brazil, Russia, India and China rose 11 percent this year, trailing the MSCI All-Country World Index by 1.6 percentage points. The trend will probably persist in 2013, according to John-Paul Smith, a Deutsche Bank AG strategist. Mutual funds that invest in BRIC nations have posted $1.65 billion of outflows as Brazilian politicians intervened to cut utility rates, ... (Read the full story)