Enterprise Takes on Texas 529

June 25, 2002 (PLANSPONSOR.com) - Enterprise Capital Management, Inc. announced that it will manage, distribute and market the 529 college savings plan sponsored by the state of Texas.

The Texas plan, which will become available in early Fall 2002, allows people to save for a student’s college education on a tax-advantaged basis.

Texas’ 529 plan will feature a minimum investment requirement of $25. Accounts can be established through a financial intermediary or directly through Enterprise.

Enterprise will offer several investment options for the new plan. The investment options combine some of Enterprise’s funds with other investment products to create plans for college savings that consider a family’s investment time horizon.

The Enterprise Group of Funds is comprised of 24 mutual funds with more than $4 billion in assets under management.