OppenheimerFunds wins bid for Texas 529
The contract with current program manager Enterprise Capital Management (now AXA) expires on August 31, 2007. The Texas savings program currently has approximately $200 million in assets and is primarily broker-sold although Texas residents may enroll directly without a sales load.
OppenheimerFunds currently manages 529 savings programs in New Mexico and Oregon, and will take over the Illinois Bright Start 529 savings program this summer.