Tue, Feb 9, 2016
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. How Einhorn survived a nightmare year[more]

    From Bloomberg.com: Even when a hedge fund has an awful year, which was the case for David Einhorn's Greenlight Capital, there are lessons to be learned. Many funds would have had a tough time surviving a year like Einhorn experienced in 2015, when all the stars seemed to align against him and Green

  2. Legal - Hedge fund founder wins early release in U.S. insider trading case, Gramercy seeking $1.3 billion from Peru over land-bond dispute[more]

    Hedge fund founder wins early release in U.S. insider trading case From Reuters/Streetinsider.com: Former hedge fund manager Doug Whitman on Tuesday won a reprieve from serving the remainder of his two-year sentence for insider trading after several judges expressed skepticism that his 2

  3. Investing - David Einhorn finds a winner in Michael Kors[more]

    From Thestreetinsider.com: Greenlight Capital hedge fund manger David Einhorn took his lumps in 2015. The fund lost over 20 percent on the year amid bets gone bad being long a plunging SunEdison and short a couple high-flying FANG stocks. However, today Einhorn is again showing his stock picking pro

  4. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  5. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time