First, they inspired the drug culture. Then they inspired the minivan. Now, somewhat predictably, the baby boom generation is the inspiration for a new mutual fund.

The C.I. Global Boomernomics Fund, launched by Toronto-based C.I. Mutual Funds, plans to invest in industries likely to do well over the next 10 to 30 years as a result of increased demand by the aging baby boom generation – those born between the years of 1946 and 1964.

The fund takes its name from a theory by economists William Sterling and Stephen Waite of New York-based fund advisor BEA Associates.

In addition to managing the fund, Sterling – director of the global strategy team at bea and a well-known demographer – and Waite are co-authors of Boomernomics, a book to be published by Random House and available in Canadian bookstores this September.

In the book, the authors examine three trends they consider to have the most influence on the North American and world economy: demographics, technology and globalization.

On the subject of demographics, Waite concedes that demographer and economist David Foot covered much of the same ground in his book Boom, Bust & Echo: How to Profit from the Coming Demographic Shift, but says Boomernomics uses these theories to propose economic scenarios over the next 10, 20 and 30 years.

On the topic of technology, the book – and the mutual fund – takes the contrary view that technology is under-hyped rather than over-hyped. The authors believe that life sciences – in particular biotechnology – are poised for major growth, with over 80 million people in North America entering their retirement years over the next decade. Other industries pinpointed for investment include financial services, health care and telecommunications.

On the subject of globalization, Waite says the world marketplace increased exponentially – to six billion from one billion – with the collapse of communism in 1989, and that those companies that have done well in the 1990s are those with global reach.

‘Coca-Cola derives something like 80% of its earnings from outside the u.s., Gillette about two-thirds and for Microsoft, its fastest growing markets are outside of North America.’

Jane Rogers, senior vice-president of marketing and communications for C.I. Mutual Funds, says in addition to advertising expected to begin in September, Sterling and Waite will set off on a cross-country road show this fall to discuss the demographic trends and investment principles behind Boomernomics.

Ammirati Puris Lintas of Toronto handles corporate advertising for c.i., but it is expected that in-house print advertising and radio spots featuring Everett Banning, host of the c.i.-sponsored syndicated radio show Moneyworks, will be the primary communications media used.