Sat, Aug 19, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

529 savings plan assets reach all-time highs

Thursday, September 05, 2013
Opalesque Industry Update - Total 529 savings plan assets were an estimated $183.5 billion as of 2Q13, reflecting a 1.8% increase from 1Q13 assets of $180.3 billion and a 16.6% increase from 2Q12 assets of $157.4 billion. In contrast to other products, long-term mutual fund and ETF assets (excluding fund-of-fund affiliated) decreased 0.2% over the past quarter from $11,198 billion to $11,172 billion and increased 16.1% over the past year from $9,623 billion. Estimated 529 net inflows were $2.759 billion in 2Q13 compared to net inflows of $2.504 billion in 2Q12.

529 savings plans have successfully helped families to save and to effectively save in a smart and tax-advantaged manner for their higher education goals. Estimated 529 net inflows (contributions minus withdrawals) were $2.759 billion in 2Q13 compared to net inflows of $2.504 billion in 2Q12 which reflects that investors are successfully using 529 plans for their intended purpose of savings and spending their savings on QHEE (qualified higher education expenses).

From an industry asset level perspective, 529 saving plans continue to reach year-over-year all-time highs. Therefore investor interest in 529 plans and saving for education in a tax efficient manner continues to rise.

Alert from Strategic Insight, an Asset International Company based in Boston: www.sionline.com

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Albright Capital puts a value lens on emerging markets[more]

    Bailey McCann, Opalesque New York: Over the past decade, investors have steadily increased investments in emerging markets private funds. Allocations to the cohort have increased from $93 billion in December 2006 to $564 billion in September 2016, according to data from research firm Preqin. Howe

  2. FinTech - Danger: Crowdfunding on the wrong platform could force you to go public[more]

    From LinkedIn.com: Some equity crowdfunding platforms are putting startups at serious risk. Working with a platform that doesn't structure your deal appropriately could jeopardize your ability to raise future capital or worse, force you to become a public reporting company. The emergence of eq

  3. David Tepper says we're 'nowhere near an overheated' stock market[more]

    From Marketwatch.com: Billionaire David Tepper thinks comparing this current stock-market environment with the overheated markets of 1999 is "ridiculous." The hedge-fund manager, who runs Appaloosa Management, told CNBC in a phone interview on Tuesday that the market's record run, notwithstanding la

  4. Opalesque Exclusive: Altegris and Artivest partner on distribution for alternative funds suite[more]

    Bailey McCann, Opalesque New York: California-based investment firm Altegris has partnered with New York-based alternative investments platform Artivest on distribution for $1 billion in alternative funds. The partnership also launches Artivest's capabilities to offer alternative solutions to acc

  5. Investing - Buffett's Berkshire Hathaway will not increase its Oncor offer, Travel-tilting hedge funds are investing in airlines and online travel agencies[more]

    Buffett's Berkshire Hathaway will not increase its Oncor offer From Reuters.com: The energy unit of Warren Buffett's Berkshire Hathaway Inc said on Wednesday it will "stand firm" on its $9 billion offer to acquire 80 percent of Oncor Electric Delivery Company LLC and will not increase it