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Hipsters Get Their Own Mutual Fund
By
Jen Carlson
Published Nov 8, 2007
Modified Mar 7, 2008
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By
Jen Carlson
Published Nov 8, 2007
Modified Mar 7, 2008
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A Mutual Fund for Hipsters called The GendeX™ Thrasher Funds? It just can't be real...except it is. Advertised through a "dedicated email" from Daily Candy this morning means they have some cash to advertise -- but to prove their hipster-cred we may need to see some MySpace profiles. And surprise, surprise -- it looks like they have one (John Mayer is in their "Top 12" friends! Ironic or do their parents also work there?).
Their site explains it "was developed and is managed by young adult investors for young adult investors. A group of more than 60 million Gen X and Y'ers largely untapped by the financial market place...until now." To think...we were all letting old people control our money, when there were Gen X and Gen Y'ers who could have been doing it! What do you need to get started? Their minimum investment is $100 with $50/month minimum "Automatic Investment Plan (AIP)." If you invest $2,500 initially, however, there is no need for an AIP. Their investments are "hand selected from the inspiration of invest-able themes guided by the contours of the Demographic Convergence Thesis." Confused? They have a glossary. Not explained is their choice in name, Thrasher Funds. Thrasher is defined as "to defeat utterly; vanquish" or "to move wildly or violently" -- perhaps not quite the image you want when picturing the person handling your money.
Got some hipster bucks to thrash? According to their graph if you start investing at 25 with less than $100 month -- you can make $321,816 by age 65! That condo you've been eyeing in East Williamsburg is so gonna be yours one day.
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Gen Y
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Jen Carlson
Jen Carlson is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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