Wed, Jul 29, 2015
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. Bridgewater turns bearish on China[more]

    Komfie Manalo, Opalesque Asia: The world’s biggest hedge fund Bridgewater Associates and one of the most vocal of China’s potential is now turning its back against the world’s second largest economy as it joins a growing list of high-profile investors who are challenging China’s potentials.

  2. Launches - Ex-Brevan Howard star Rokos builds team for new fund, Former Och-Ziff manager’s firm starts health care hedge fund, Industry veterans launch commodity investment firm Aron Capital Management, Nikko Asset Management launches two UCITS funds, Capital Group plans to debut Asian investor targeted fund[more]

    Ex-Brevan Howard star Rokos builds team for new fund From WSJ.com: Chris Rokos, a former star trader at Brevan Howard Asset Management LLP, has hired an economist from Nomura to join the team he’s assembling for his much anticipated hedge fund launch. Mr. Rokos, whose firm is due to b

  3. Institutions - Pension fund dismisses Texas consultant, Rhode Island pension fund gets 2.2% investment return, far below assumed rate of 7.5%, New Jersey pension investments see a drop-off in returns[more]

    Pension fund dismisses Texas consultant From Sandiegouniontribute.com: The county retirement board on Thursday terminated the Texas consultant who was given the reins of the $10 billion pension fund, and whose investment picks left many employees and retirees feeling taken for a ride.

  4. SWFs - Sovereign wealth funds paid around $14 billion in fees[more]

    From SWFinstitute.org: When it comes to the financial sector, asset management is one of the most profitable industries in the world. The Boston Consulting Group put out a 2014 figure saying there is US$ 74 trillion worth of professionally-managed assets. One of the fastest growing institutional inv

  5. Investing - Carlyle teams with TCW in push for ordinary investors[more]

    From Bloomberg.com: Carlyle Group LP isn’t backing down from its goal of offering alternative strategies to the masses, despite early setbacks. The Washington-based firm is teaming up with TCW Group, which is majority owned by Carlyle funds, to offer three vehicles that give ordinary investors acces

 

banner