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Education Fund Assets Rise Despite Soft Sales

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Net sales of 529 college savings plans fell to $1.1 billion in the second quarter, down 15% from the total for the second quarter of 2005, but assets rose 31%, to $77 billion.

The College Savings Foundation, Washington, has published those figures in a report based on data collected by Financial Research Corp., Boston.

The researchers found that age-based portfolios continued to dominate the market, with those portfolios continuing to account for 71% of net sales.

College savings fund holders showed somewhat more interest in purchasing individual funds; net sales of individual funds amounted to 8.1% of all net sales in the second quarter, up 6.6% in the second quarter of 2005.