First quarter 2005 sees increase in 529 assets

Data compiled by Financial Research Corp. and released by College Savings Foundation shows that assets in 529 savings plans were $55.4 billion at March 31, 2005, an increase of 38.6% over the $40.0 billion total from a year ago. Asset growth in the first quarter of 2005 was 6.0%.

Estimated net new contributions in the first quarter of 2005 were $3.9 billion, compared with $4.6 billion in fourth quarter 2004 and $4.1 billion in first quarter 2004.

A survey of member firms in College Savings Foundation showed that most 529 investments were in age-based portfolios, and that most 529 accounts were heavily weighted in equities.
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