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Monday, November 22, 2010

Meet Mutual Funds for Kids

News summary by MFWire's editors

Fundsters into getting their kids involved in investing may want to take a look at Mark Jewell's latest column. Yesterday the Associated Press columnist profiled the $12 million Monetta Young Investor Fund [see profile] and cites several other kid-friendly mutual funds: Amana Trust Growth [see profile], American Century Giftrust [see profile], T. Rowe Price Spectrum Growth [see profile] and Vanguard Star [see profile].

The Monetta fund is PMed by Robert S. Bacarella and Robert J. Bacarella (Robert S.'s son). It is load-free, requires an initial minimum investment of $1,000 (or only $100 if you contribute $25 per month via an automatic investment plan), and invests in large cap growth stocks featuring brands kids know (like McDonald's and Apple). Half of its assets are S&P 500-tracking ETFs.

Jewell describes the other funds mentioned as kid-friendly because they, too, boast "low investment minimums, solid long-term performance records and modest expenses." 

Edited by: Neil Anderson, Managing Editor


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