State Treasurer Clint Zweifel announces MOST 529 Advisor Plan ranked No. 1 in nation for 1-year performance
Ranking from Savingforcollege.com follows June 2011 enhancements
For Immediate Release
Thursday, March 08, 2012
JEFFERSON CITY – State Treasurer Clint Zweifel (ZWY-ful) announced today that MOST–Missouri's 529 Advisor Plan has been ranked No.1 among all advisor-sold 529 plans for one-year performance by Savingforcollege.com. The ranking is as of December 31, and may be found here.
"Missouri’s partnership with Upromise Investments and DWS Investments is one of the premier partnerships in the United States," Treasurer Zweifel said. "I will continue to work with each to ensure Missouri families are receiving the best services as they save for higher education. As a father of two young girls, I know how every penny counts and today’s announcement shows that Missourians who want to use an advisor for their college savings have a top-flight Missouri product to use."
The MOST 529 Advisor Plan is distributed by DWS Investments, the world’s ninth largest mutual fund company. Upromise Investments serves as program manager. DWS Investments became distributor as part of the new management contract for MOST 529 that took effect in June 2011. Its investment options were also added at the time. There has been a 7.5 percent increase in the number of accounts and a 34 percent increase in investment assets since the contract took effect. Currently, more than 14,000 accounts have more than $150 million saved in the MOST 529 Advisor Plan.
Savingforcollege.com updates 529 plan rankings quarterly.
MOST 529 Advisor Plan accounts can be started with as little as $25, with earnings growing tax deferred. Missourians can visit www.most529advisor.com or contact a financial advisor to learn more. Additionally, tax-free withdrawals can be made for qualified higher-education expenses*, contributions qualify for significant Missouri State income tax deductions** and a wide range of investment options are available.
About DWS Investments
DWS Investments is the US retail brand of Deutsche Bank’s global asset management division. DWS is the leading mutual fund brand in Germany and one of the most respected in Europe and Asia. With access to the expertise of a powerful global network in 16 countries, DWS Investments strives to make innovative investment strategies and solutions, traditionally reserved for institutions and high net worth individuals, available to the US retail investor.
© 2012 Savingforcollege.com (“SFC”) as of 12/31/11. Past performance is no guarantee of future results. The MOST 529 Advisor plan ranked 1 out of 34 for the one-year performance and 17 out of 27 for the three-year performance including maximum sales charges (Class A) for the period ending 12/31/11. The MOST 529 Advisor plan ranked 1 out of 35 for the one-year performance and 15 out of 28 for three-year performance not including sales charges (Class A) for the period ending 12/31/11. Rankings for the five-year period ending 12/31/11 are not available as the plan did not have at least one portfolio with sufficiently-long performance in a minimum of four asset allocation categories under SFC’s ranking model.
SFC’s proprietary 529 performance rankings are published quarterly and show best- to worst-performance results for both direct-sold and advisor-sold plans. The 529 Plan Composite Rankings are based on a comparison of the historical investment performances of a representative selection of each 529 plan's investment options. Plans are ranked based on the weighted average performance of seven asset allocation categories (100% Equity, 80% Equity, 60% Equity, 40% Equity, 20% Equity, 100% Fixed, and 100% Short Term) for the one, three, and five-year periods ending 12/31/2011.
For more information, please visit savingforcollege.com. Results publisher is JFH Innovative, LLC.
*Contributions to the plan in a tax year are deductible from Missouri state income tax up to certain limits, but may be subject to recapture in subsequent years if you make a nonqualified withdrawal.
** Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
If you are not a Missouri taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.
For more information about MOST - Missouri's 529 Advisor Plan, contact your financial advisor, call 1-800-617-5097, or visit most529advisor.com to obtain a Plan Description. Investment objectives, risks, charges, expenses, and other important information are included in the Plan Description; read and consider it carefully before investing. DWS Investments Distributors, Inc., serves as Distributor.
The Missouri Higher Education Savings Program (the "Program Trust") is a trust created by the State of Missouri. When you invest in MOST - Missouri's 529 Advisor Plan (the "MOST 529 Advisor Plan" or the "Plan"), you are purchasing portfolio units issued by the Program Trust. Portfolio units are municipal securities. The MOST 529 Advisor Plan has been implemented and is administered by the Missouri Higher Education Savings Program Board (the "Board"). Upromise Investments, Inc., and Upromise Investment Advisors, LLC, serve as the Program Manager and Recordkeeping and Servicing Agent, respectively, with overall responsibility for the day-to-day operations. The Plan's portfolios, although they invest in mutual funds, are not mutual funds. DWS Investments Distributors, Inc. is responsible for marketing and distribution of the MOST 529 Advisor Plan. American Century Investment Management, Inc.; BlackRock Fund Advisors; BlackRock Institutional Trust Company, N.A.; Capital Research and Management Company; Columbia Management Investment Advisers, LLC, and its affiliates; Deutsche Investment Management Americas Inc.; Invesco Advisers, Inc.; Pacific Investment Management Company LLC (PIMCO); Scout Investments, Inc.; T. Rowe Price Associates, Inc.; and Templeton Global Advisors Limited provide underlying investments for the MOST 529 Advisor Plan.
Investment returns are not guaranteed, and you could lose money by investing in the MOST 529 Advisor Plan. Participants assume all investment risks, including the potential for loss of principal, as well as responsibility for any federal and state tax consequences.
Not FDIC-Insured. No Bank, State, or Federal Guarantee. May Lose Value.