As BRIC Slips, PHIKOTHAI is the Acronym to Watch

Not too long ago,  the BRIC nations—Brazil, Russia, India and China—were the cynosure of global investors. But the centre of gravity has begun shifting in favour of a new bunch of markets.

While Brazil and India have been grappling with a slew of problems, ranging from high current account deficits to rising inflation and sliding currencies, The Philippines, on the other hand, has delivered the highest returns in the past one year, at 16 percent, topping the charts among key emerging markets (see table).

As Filipino stocks touched all-time highs, the country earned investment grade rating in March 2013.

Clearly, the Philippines, South Korea and Thailand are now serious contenders for investor attention.

So, before anybody thinks of a new acronym, why not go with PHIKOTHAI?