MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, October 12, 2001 Tar Heel 529 Picks First Manager J&W Seligman & Company has won the mandate to manage one of five new investment options for the North Carolina 529 college saving program. The New York investment manager will manage the CollegeHorizonFunds, a flexible lifecycle option that allows investors to choose from among 22 portfolios. "We had proposals from a number of firms, but none combined Seligman's disciplined investment styles, broad diversification, effective risk management, and distribution capabilities," explained Steven E. Brooks, North Carolina State Education Assistance Authority (NCSEAA) executive director. Brooks added that other investment options will be available as additional contracts with investment managers are signed. Altogether, the program is set to offer four investment options managed by different firms and a low risk option managed by the state treasurer. Those funds will be offer different degrees of risk for different time horizons. New investment options planned include a life cycle fund, a balanced fund, a protected stock fund, and an aggressive stock fund. The existing College Vision Fund, an income fund, will be renamed the "Dependable Income Fund" and made a part of the new program. North Carolina's National College Savings Program will be administered by College Foundation as agent of the NCSEAA. The revamped plan will also no longer include residency restrictions, making it possible to distribute the plan nationally. Printed from: MFWire.com/story.asp?s=27044 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |