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

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

Rating:Legg Mason Private Labels 529 Plan Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, April 07, 2003

Legg Mason Private Labels 529 Plan

by: Ki Kim

Legg Mason Wood Walker is rolling out a new nationwide 529 college savings program, the Legg Mason Core4College 529 Plan, under a private label agreement with the state of South Dakota and PIMCO, which won the national mandate.

The Legg Mason offering is comprised of a series of 15 investment portfolios, four of which are asset allocation models based on the number of years left before the beneficiary reaches college. As the beneficiary reaches a pre-determined age, the portfolios shifts to a more conservative mix.

The remaining 11 portfolios are based on underlying mutual funds, including small-, mid-, and large-cap U.S. equity funds, international equity funds, fixed income and money market funds. College savers can invest in one or more of these portfolios and can model their own asset allocation plan according to their needs, says the firm.

This plan will be distributed through Legg Mason's network of 1,400 Financial Advisors, most of whom work in the eastern half of the U.S., and Legg Mason Funds Investor Services, the firm's direct mutual fund distribution arm, according to a spokesperson with Legg Mason.

Along with certain tax and estate planning benefits; beneficiary and income flexibility; and account control advantages, Core4College offers one of the highest maximum contribution limits in the industry -- $305,000 per beneficiary, according to the firm.

"The benefits of our 529 plan combined with Legg Mason's century-long history of providing sound financial advice enable us to introduce what we believe to be a superb product into the increasingly important 529 marketplace," says Mark R. Fetting, president of Legg Mason Funds.

The firms managing the underlying mutual funds in the plan are Legg Mason Funds Management, headed by Bill Miller; Royce & Associates, led by Chuck Royce; Western Asset Management Company; Brandywine Asset Management; and Batterymarch Financial Management

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

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
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. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use