Stein Roe is expanding the rich vein it has been mining in the children's market for funds. The unit of Liberty Funds (now itself a part of Fleet Boston) is expanding the essay contest beyond elementary school by graduating to high school.

The six-year old contest rewards winning entrants with $34,000 in shares in the firm's Young Investors fund. Until this year it had only been open to elementary school students. This year it will also be opened to those in grades 9 through 12.

The entrants are divided into 4 categories, each consisting of two grades. Entrants are asked to write essays answering basic questions such as: "What are the most important lessons you have learned about money and investing? How do you think this knowledge will help you in the future?" and "Tell us about someone who you consider a successful investor. Please include three rules you believe every investor should follow."

Karl Schofield, senior vice president of direct marketing for Stein Roe Mutual Funds and Liberty Funds Group, explained that the contest is a way to encourage children to become familiar with money and investing. No doubt, it also familiarizes entrants with the Stein Roe brand.

"Given the success of previous years' contests, which have generated thousands of entries, we believe this is a great way to recognize some of the best ideas of young investors across the nation. The essay contest reinforces that starting to invest early can help provide the basis for a bright financial future," said Schofield.  

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