The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:529 Plan Growth Lagged in Q1 Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, June 11, 2012

529 Plan Growth Lagged in Q1

Reported by Sean Hanna, Editor in Chief

College savings programs are not adding assets as quickly as old-fashioned mutual funds. Data collected by FRC show that 529 plans across the nation added $21.2 billion in prepaid assets during the first quarter.

That translates into growth of just 2.6 percent during the year's first three months, well short of the 10.6 percent increase in long-term mutual fund and ETF assets over the same period.

Meanwhile, the total number of active accounts for 529 prepaid plans fell 0.1 percent during the quarter to 1.396 million. The number of accounts is down 0.6 percent since the end of 2010.

Twenty programs provided data to FRC and among those plans gross contributions (or new contributions) during the first quarter were 2.0 percent of assets for open plans, 0.4 percent for closed plans, and 1.4 percent for all prepaid plans, according to FRC's data.

The net sales-to-asset ratio was negative 0.03 percent for open plans, negative 1.7 percent for closed plans, and negative 0.6 percent for all prepaid plans.

FRC is now a part of Asset International's Strategic Insight research arm. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use