MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, May 21, 2007 Southern State Dumps 529 Manager Texas is dumping Enterprise Capital Management as its 529 manager. The Dallas Morning News reports that the Lone Star State is searching for a new manager to replace Enterprise once the contract expires on August 31. A spokesperson for Texas Comptroller Susan Combs told the paper that the state wants a "low-cost plan," and the article lists the plan's current annual non-fund management expenses as totaling 0.45 percent of assets (plus $30 per account for non-Texans). However, the Morning News also points to the Texas 529 plan's underperformance as a possible factor in the state's decision (according to Savingforcollege.com, Texas came in dead last in three year performance among the 50 states, as of December 31). Printed from: MFWire.com/story.asp?s=14471 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |