FRC offers 529 industry stats for June 30, 2003
Financial Reseach Corporation presented 529 industry trends at the Financial Research Associates' College Savings Plan Summit.
Assets in 529 college savings plans grew to $25.9 billion at 6/30/03, up from $19.2 billion at 12/31/02, $9.1 billion at 12/31/01, and $2.5 billion at 12/31/00.
Assets in 529 prepaid tuition programs grew to $8.7 billion at 6/30/03, up from $8.3 billion at 12/31/02, $16.8 billion at 12/31/01, and $6.1 billion at 12/31/00.
Estimated quarterly net sales have been fairly level since since the beginning of 2002, averaging nearly $2.7 billion per quarter. During 2002, approximately 68% of net sales came through an intermediary, with 32% direct or through RIAs. The intermediary share of net assets has increased quickly, up from 20% in the fourth quarter of 2000 to 64% in the second quarter of 2003.
Average 529 account balance is approximately $6,475 with the highest reported average balance by a program at $13,638.
The estimated composition of 529 plan assets is 60% in age-based portfolios, 25% in static-blendand stable value portfolios, and 15% in single-fund portfolios. In broker sales, 40-60% is in A shares, 25-35% in B shares, and 15-25% in C shares.
Financial Research Corp. projects net sales CAGR of 17.1% through 2008 and $200 billion at the end of 2008, increasing to $300 billion by the end of 2010.
Return to 529 News centerAssets in 529 college savings plans grew to $25.9 billion at 6/30/03, up from $19.2 billion at 12/31/02, $9.1 billion at 12/31/01, and $2.5 billion at 12/31/00.
Assets in 529 prepaid tuition programs grew to $8.7 billion at 6/30/03, up from $8.3 billion at 12/31/02, $16.8 billion at 12/31/01, and $6.1 billion at 12/31/00.
Estimated quarterly net sales have been fairly level since since the beginning of 2002, averaging nearly $2.7 billion per quarter. During 2002, approximately 68% of net sales came through an intermediary, with 32% direct or through RIAs. The intermediary share of net assets has increased quickly, up from 20% in the fourth quarter of 2000 to 64% in the second quarter of 2003.
Average 529 account balance is approximately $6,475 with the highest reported average balance by a program at $13,638.
The estimated composition of 529 plan assets is 60% in age-based portfolios, 25% in static-blendand stable value portfolios, and 15% in single-fund portfolios. In broker sales, 40-60% is in A shares, 25-35% in B shares, and 15-25% in C shares.
Financial Research Corp. projects net sales CAGR of 17.1% through 2008 and $200 billion at the end of 2008, increasing to $300 billion by the end of 2010.