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March 12, 2014 at 06:00 AM
Funds invested in 529 college savings plans rose by nearly 7 percent in the fourth quarter of 2013, according to new research from Strategic Insight.
Total 529 savings plan assets were an estimated $204.5 billion as of the fourth quarter 2013, reflect a 6.9 percent increase from the third quarter 2013 assets of $191.3 billion and a 21.3 percent increase from fourth quarter 2012 assets of $168.5 billion.
In contrast to other products, long-term mutual fund and ETF assets (excluding fund-of-fund affiliated) increased 6.1 percent during the past quarter to $12.6 billion from $11.9 billion. The fourth quarter total is also up 20.3 percent from the $10.5 billion recorded for the year-ago period.
Estimated 529 net inflows, the report shows, were $3.1 billion in the fourth quarter of 2013 compared to net inflows of $3.1 billion in the fourth quarter of 2012.
