Business Services Industry
Stein Roe manager invests for youth
Crain's Chicago Business, September, 1998
The 4-year-old Young Investor Fund at Chicago's Stein Roe & Farnham Inc. has an unusual niche: parents, grandparents, uncles and aunts investing for children. Stein Roe bombards its 135,000 shareholders with monthly newsletters and a slew of correspondence in chatty kidspeak. To further involve investors, the fund has tried to focus on companies such as McDonald's Corp.
that young people patronize. Such investing requires a youthful outlook, which Stein Roe found in David Brady, 34, co-manager with Erik Gustafson, 35, since 1994. The two have built the fund to $680 million in assets, with an average annual return of 21.8% through Aug. 31, compared with an average of 16.0% for a peer group of growth funds and 21.6% for the Standard & Poor's 500. In June, Mr. Brady...
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