Credit Suisse Asset Management LLC, the New York-based unit of Credit Suisse Group of Zurich, is taking aim at Generation X with a tailored mutual fund program.
The SaveMyMoney program offers access to four of Credit Suisse's Warburg Pincus Funds for an initial investment of just $250, plus $50 per month. The funds - three equity portfolios and a money market offering - usually require minimum investments of $1,000 to $2,500. "If we're going to attract new consumers - Generation X-ers - we're going to have to give them the means" to invest, said Eugene Podsiadlo, president of the Warburg Pincus Funds. "Most of them don't have $5,000 to open an account."