529 assets rise in 2007 despite slowdown in Q4 sales
Financial Research Corporation has estimated total assets in 529 savings plans as of December 31, 2007 at $111.9 billion, representing a 23.4% increase from the $90.7 billion at December 31, 2006 and a 2.2% increase from the $109.5 billion at the end of the third quarter.
Estimated net sales for the fourth quarter of 2007 were $3.3 billion compared with $5.1 billion during the same period last year. Sales in 2006 jumped sharply during the fourth quarter in the wake of the Pension Protection Act making permanent the 529 tax exclusion.
Separately, the College Savings Foundation (CSF)reported that age-based portfolios held 64.6% of assets in CSF members' 529 plans, while static, or fixed, portfolios accounted for 28.8% of the total. Individual funds made up the remainder. CSF members include investment firms managing $43 billion, or 38% of total 529 plan assets.
Return to 529 News centerEstimated net sales for the fourth quarter of 2007 were $3.3 billion compared with $5.1 billion during the same period last year. Sales in 2006 jumped sharply during the fourth quarter in the wake of the Pension Protection Act making permanent the 529 tax exclusion.
Separately, the College Savings Foundation (CSF)reported that age-based portfolios held 64.6% of assets in CSF members' 529 plans, while static, or fixed, portfolios accounted for 28.8% of the total. Individual funds made up the remainder. CSF members include investment firms managing $43 billion, or 38% of total 529 plan assets.