Ohio direct-sold 529 revises investment options and fees

The Ohio CollegeAdvantage 529 savings plan has made changes to its investment options and fee structure effective August 1, 2008. The program has replaced two of the Vanguard individual index-fund options with two Vanguard actively-managed fund options. The two new funds are Vanguard Windsor II and Vanguard Morgan Growth.

Eight of the Putnam individual-fund options in the program have been removed, reducing the number of Putnam individual-fund options from 12 to 4.

The program manager fee (exclusive of the state's administrative fee) for the Vanguard options has been reduced from 0.06% to 0.04%, putting the total expense ratio for the lowest-cost option (Vanguard S&P 500 Index) at 0.19%.
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