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PEOPLE - James Perkins
Youth must be served, and when it comes to money management, James Perkins, the wiry 29-year-old portfolio manager of a small, two-year-old, New York–based hedge fund called Thrasher Fund, wants to be the one to do it.
Perkins, a onetime investor relations analyst at AllianceBernstein, has launched a new mutual fund aimed at Generation X, the 51 million people born from the mid-60s to the late 70s, whose investment needs he believes traditional money managers have overlooked. The GendeX Fund started trading on October 15 with a $100,000 all-cap portfolio of 80 to 120 stocks that is designed to grow 10 percent to 15 percent annually. The fund fell 3.0 percent through November 28 but still beat the Standard & Poors 500 index while Perkins threw several loud, alcohol-fueled parties to solicit initial deposits of as little as $100 from crowds of 20- and 30-somethings. Says Perkins, We want to be as much a part of their lives as Fidelity Investments thinks it should be a part of their parents lives.