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

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

Rating:Banc One to Enhance Program Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 23, 2003

Banc One to Enhance Program

Reported by Abigail La Croix

One Group Mutual Funds, the fund arm of Banc One Investment Advisors is prepping plans to enhance its 529-college savings plan, CollegeChoice, in conjunction with the State of Indiana, at the beginning of June. In a related move, the firm is adding a list of external managers to the lineup including, MFS Investments, Franklin Templeton Investments, and Royce Funds.

Additionally, One Group Mutual Funds is adding a dollar-cost averaging component and possibly a stable value option to the plan, said Shawn Alexander, managing director marketing. The catalyst for the enhancement is to provide more flexibility, control, and options within the plan for investors in an increasingly competitive 529 plan marketplace, Alexander said.

Franklin Templeton is slated to offer a large cap growth offering, Royce Funds will provide a small cap option and MFS Investments has been tapped to offer a large cap value and an international product, said Alexander.

Calls to MFS spokesman, John Riley, Franklin Templeton, spokeswoman, Stacey Johnston, and Royce Funds, spokeswoman, Joanne Newgard seeking comment regarding their respective firms' planned participation in the CollegeChoice program were not returned by press time.

One Group Mutual Funds and the State of Indiana initially rolled out the plan early in 2002. At that time it offered an aged-based portfolio and seven static investment options. Current investment offerings include an Equity Index Portfolio, Growth Portfolio, Growth and Income Portfolio, Balanced Portfolio, Conservative Growth Portfolio, Money Market Portfolio and a Bond Portfolio.

Additionally, Banc One began running a debit card pilot program in mid-January in the State of Oklahoma as an additional incentive for participants, said Alexander, noting that the pilot phase culminates in June.

While the firm manages the 529-college savings plan for the State of Indiana, Alexander explained that Banc One wanted to offer the pilot program in neutral territory before offering it to participants in the program-sponsored state to avoid any negative feelings if it is discontinued, adding that it is "a good retention strategy."

Based on the success of the pilot, the firm will look to broaden the program throughout the Banc One franchise and possibly unveil a credit card incentive program as well, she said. A full media blitz incorporating print ads, statement inserts, and a direct mail campaign are expected to accompany the launch of the enhanced 529-college savings plan, said Alexander, declining to elaborate.  

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