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.
For more information, click hereReturn to 529 News centerEstimated 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.