Assets in 529 college savings plans rose to $59 billion at the end of the second quarter, up from $42 billion a year earlier.[@@]
The College Savings Foundation, Washington, has published the latest asset total in a report based on data from Financial Research Corp., Boston.
FRC bases its 529 plan statistics on survey responses from companies that collect about 33% of 529 plan assets.
Professionally managed "age-based portfolios" of mutual funds, or portfolios that shift toward more conservative investments as participants age, held 70% of 529 plan assets, and fixed-income portfolios held 24% of assets, according to FRC researchers.
Plan owners have invested only 6% of the plan assets in individual mutual funds.
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