Fidelity adds multi-manager option in MA UFund

A new multi-manager age-based option has been added to this 529 savings plan. The new option was developed by Fidelity and the Massachusetts Educational Financing Authority (MEFA) for the Massachusetts UFund plan, and has also been rolled out to Fidelity-managed 529 plans in Arizona, Delaware, and New Hampshire.

Fidelity will select the underlying fund managers from Fidelity's FundsNetwork platform.

The existing investment options will remain in place. This means that an investor now has a choice of three different investment approaches when selecting the plan's age-based option: the new multi-manager portfolios; portfolios using Fidelity index funds; and portfolios using actively-managed Fidelity funds. Each has a different expense structure as well.

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