BlackRock reported as choice for new Ohio 529

Update: The Ohio Tuition Trust Authority today announced an agreement with BlackRock Investments to manage a new adviser-sold 529 savings plan for the state of Ohio. The plan will offer investment options using funds from BlackRock and other fund families and is expected to open this fall (2009).

The Wall Street Journal has reported that BlackRock Investments has been selected by the Ohio Tuition Trust Authority to manage a new adviser-sold 529 plan. This would be the first direct mandate for the money manager. The OTTA and BlackRock must first finalize an agreement before launching the new plan.
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