Five online index mutual funds managed by Whatif Asset Management of San Francisco and sub-advised by Barclays Global Advisors, also of San Francisco, will target young professionals who are at ease using the Internet.

The firm will focus on attracting professionals 25 to 39 years old, according to Monica Chandra, executive vice president of product marketing at the online financial service company. While the average mutual fund initial investment is $2,500, the Whatif Funds will allow online customers to invest as little as $100. The group will use print and online media to appeal to women and South Asian communities in which low-cost investments are likely to be popular, said Chandra.

The Whatif Funds are in registration with the SEC and are expected to be made available online within the next few months. The funds, which will be under a master/feeder structure, include the Whatif S&P 500 Fund, the Whatif Extended Market Index Fund that will track the mid- and small-cap stocks of the Wilshire 4500 Index, the Whatif International Index Fund, the Whatif Bond Index Fund and the Whatif Money Market Fund.

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