after BRICs, CIVETS?

Ten years after Brazil, Russia, India and China were dubbed the BRICs, any early mover advantage for investing in those economies has long gone.

But lovers of acronyms will be relieved to learn the latest investment theme claiming to steal a march on emerging markets also has a catchy name: CIVETS.

The so-called CIVETS group of countries—Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa—are being touted as the next generation of tiger economies, even if they are named after a more shy and retiring feline mammal.

These nations all have large, young populations with an average age of 27. This, or so the theory goes, means these countries will benefit from fast-rising domestic consumption. They also are all fast-growing, relatively diverse economies, meaning they shouldn't be as heavily dependent on external demand as the BRICs.

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