There's only one mutual fund company that uses MySpace to market its products, Thrasher Funds, which recently launched its first fund on October 15.
The fund's investment adviser is Thrasher Capital Management
, a two-year-old firm based out of New York City's trendy SoHo district. Foreside Distribution Services
is the fund's distributor.
Thrasher's first fund offering, called the GendeX Mutual Fund, no-load mutual fund that is actively marketed to a group coveted by fund companies, the 20- and 30-something crowd.
The MySpace page
belonging to Thrasher boasts a diverse list of friends from singer John Mayer to hipster magazines Nylon and Filter. Even indie rock group Bloc Party makes an appearance.
In an interview with The MFWire, Khalid Reede Jones
, chief operating officer and general counsel explained how the company came up with its marketing campaign. "We are of the demographic that we target and we sat down and thought about the kind of things that are visible to us."
is also part of the marketing strategy. It features photographs of chic young people that look like they could have come straight out of a clothing ad. This is no accident. According to Jones, the photo on the website was, in fact, shot by a fashion photographer.
Thrasher also takes investor education seriously, with a show focusing issues young people face in investing like “What’s a Stock." The weekly YouTube show
, "Thrasher Daily Street Talk," is hosted by Jones and discusses issues in investing and pop culture issues in general.
Jones says the fund is currently sold through advisors but Thrasher is also looking at wirehouse platforms for future distribution.
Eye-popping marketing aside, Jones sees Thrasher's place in the market in a very serious light. "Our goal is to provide stewardship to young people in their financial affairs," he said.
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