By Paul Katseff, Investors Business Daily

Millennials are often knocked for not being more interested in investing. Turns out that rap is unfair in many cases — and outright wrong. Millennials who owned mutual funds as of mid-2015 started investing at a younger age than Gen Xers and baby boomers.

That’s according to a new survey, by the Investment Company Institute, that should encourage retirement planning and investing by millennials.

The ICI survey is based on two new studies.

Those studies found that the median age at which millennials — people born between 1981 and 1997 — first bought mutual fund shares was 23.

That’s three years earlier than Gen Xers — who were born between 1965 and 1980 — who began to invest in mutual funds at a median age of 26.

 Meanwhile, baby boomers — who were born between 1946 and 1964 — did not begin to buy mutual fund shares until their 30s.

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