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Missouri will retain Upromise Investments as 529 manager
(February 8, 2011) - Missouri Treasurer Clint Zweifel has announced that the state will retain its existing program manager Upromise Investments for both the direct-sold and advisor-sold MOST 529 savings programs under a new five-year contract when the current contract expires in June 2011.
The direct-sold MOST program will utilize Vanguard mutual funds under a new management fee structure that provides for expense ratios ranging from 0.29%-0.60%, down from 0.55%-1.58%.
The advisor-sold version of MOST will continue to feature a broad diversity of money managers among its investment options, but DWS Distributors will become exclusive distributor of the program and DWS mutual funds will be added to the mix.
Upromise Investments has also promised to provide a $500,000 financial assistance package to benefit Missourians savings with MOST 529.