Fund investing in gay, lesbian markets

Jennifer Collins Feb 3, 2010
HTML EMBED:
COPY

Fund investing in gay, lesbian markets

Jennifer Collins Feb 3, 2010
HTML EMBED:
COPY

TEXT OF STORY

Bill Radke: A national conference for gay and lesbian leaders begins in Dallas today. And this week, the investment group Galileo Capital Management announced a plan to advise and invest in businesses that cater to the gay and lesbian community. Marketplace’s Jennifer Collins has that.


Jennifer Collins: Justin Nelson says gays and lesbians are known for living well.

Justin Nelson: So everyone thinks, you know, I flew my G5 and hopped in my Rolls Royce and I print money in my basement.

Nelson is president of the National Gay and Lesbian Chamber of Commerce. While he says he’s not paid that well, the gay and lesbian consumer market on the whole is substantial. It’s expected to top $700 billion this year.

Galileo Management is planning to launch a fund that will invest in businesses that serve the gay and lesbian community. Investment advisor Chris Cutler sees a lot of potential in the fund.

Chris Cuter: You know, you could end up with a firm that has a very interesting idea for that community, and that could be very profitable.

Still, Cutler cautions those who maybe like the fund’s focus to scrutinize its investment strategy before putting their money down.

I’m Jennifer Collins for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.