New Fund For Kids

March 7, 2007

Amazingly enough, some children would rather play Xbox 360 than learn about investing. The Monetta Family of Mutual Funds hopes to change that with the Young Investor Fund (MYIFX), a new no-loader geared toward the under-four-feet set.

When a child or teenager joins the fund, they are given an investment kit, which for children eight years old and younger includes an activity book, a CD with songs about money and a copy of the kid-friendly newsletter chock-full of jokes and other information that is intended to make it interesting to them.

Teenagers are offered a more sophisticated version of the kit and have the chance to enroll in a stock market game, in which they each receive $100,000 in "Monetta Bucks" that they have to use to construct a portfolio with any combination of stocks from the Dow Jones Industrial Average.

At the end of six weeks the first-prize winner gets to choose either a certificate for one share of stock or a $75 gift card to Best Buy. There are smaller gifts for other winners."


It would be great to get young people interested in money management, but from what I can remember about being a kid, I'd be interested in the 'CD with songs about money' and the activity book for all of 15 seconds before I turned my attention back to Viva PiƱata.