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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:


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