Mass. 529 Plan to Use Fidelity’s Age-Based Investment Options

Fidelity Investments and the Massachusetts Educational Financing Authority (MEFA) have unveiled a new age-based strategy to families saving for college via Fidelity-managed 529 college savings plans.

The multi-firm offering, which includes eight multi-firm, age-based portfolios, provides access to an array of funds representing a range of underlying fund managers, selected from Fidelity’s FundsNetwork platform.  

Fidelity’s registered investment advisory division, Strategic Advisers, Inc., a wholly-owned subsidiary of FMR LLC, will provide the selection strategy for the new multi-firm offering. The new multi-firm, age-based portfolios will be managed by Andrew Dierdorf and Christopher Sharpe, portfolio managers in Fidelity Asset Management’s Asset Allocation Division.   

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

“MEFA is committed to helping families plan and save for college, which is why our Board worked closely with Fidelity to bring broader investment choice to investors through the development of multi-firm investment options,” said Thomas Graf, Executive Director of MEFA.  

The new multi-firm option is available to participants in the following Fidelity-managed 529 college savings plans: the U.Fund College Investing Plan, The UNIQUE College Investing Plan, the Delaware College Investment Plan, and the Fidelity Arizona College Savings Plan.

Windham to Offer Retirement Income Strategies in Australian Market

Windham Capital Management has established a relationship with Apostle Asset Management of Sydney, Australia. 

As part of the relationship, Windham’s Retirement Income Portfolio will be offered to Australian investors seeking investment products that range from asset accumulation through income generation post-retirement.

As Australia faces an aging population and associated longevity risk, as well as downside investment risk and inflation protection concerns, Apostle is seeking new ways to relieve these market pressures, according to Windham. “Through our partnership with Windham Capital, we can offer institutional investors asset allocation strategies that help fill gaps for a retirement market now highly focused on risk management, liquidity, fee controls and regular income distribution,” said Karyn West, Managing Director, Apostle Asset Management.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

The Windham Retirement Income Portfolio uses proprietary measures to protect against downside risk and invests primarily in exchange-traded funds to access the global markets in a highly liquid and efficient manner. Comprised of income-producing assets that adapt to changing market conditions, the portfolio has the dual objectives of high current income and, over medium to longer periods, keeping pace with inflation.

«