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Friday, October 31, 2003

EdVest Board to Meet Monday

by: Sean Hanna, Editor in Chief

The board of the Wisconsin 529 program is discussing the possibility of adding funds from outside managers. Currently all of the funds offered in the EdVest program are managed by Strong Capital. That mandate may be at risk because of allegations that Strong Capital allowed both a hedge fund and CEO Dick Strong to make timing trades in some funds.

The College Savings Program Board has also hired outside legal counsel to assist it in reacting to the allegations against Strong.

The board has scheduled special meeting for Monday.  

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