TITLE: 529 Tag Team

TEASE: Two firms are partnering with a state to offer college saving services.

Strong Capital Management and U.S. Bancorp Asset Management have joined together with the State of Oregon to offer a 529 plan to residents across the country. Both firms will provide investment management services while the former will also provide administrative services and the latter will provide distribution services.

The plan will be known as the FACTS 529 Plan and as the Oregon College Savings Plan in Oregon. The new product will offer investment opportunities in both First American and Strong mutual funds. U.S. Bancorp serves as the investment advisor to First American.

This move is an enhancement of Oregon’s pre-existing college plan, which the state launched in 2001. It is chaired by Oregon State Treasurer Randall Edwards.

"I'm thrilled with the new Strong-U.S. Bancorp Asset Management partnership because we now have the ability to offer a more flexible, lower-cost product to the people here in Oregon and across the country," Edwards opined.

Investors will be able to choose from a number of investment offerings, including aggressive, moderate, balanced, conservative and ``in-college'' portfolios. There is also an index option that tracks the performance of the Russell 3000. 

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