With the additions, College Savings Iowa offers investors a choice of eight individual portfolios and four age-based savings tracks. The new options will maintain the same 0.65% expense ratios as College Savings Iowa’s existing portfolios and will become available on August 1, 2003, according to a news release.
College Savings Iowa’s eight individual options consist of the five underlying portfolios within the age-based tracks – Aggressive Growth Portfolio, Growth Portfolio, Moderate Growth Portfolio, Conservative Growth Portfolio, and Income Portfolio- plus three new portfolios:
- Conservative Income Portfolio – 80% bonds, 20% short-term securities
- Bond Index Portfolio – 100% bonds
- Money Market Portfolio – 100% short-term securities.
Further, thefour age-based savings tracks, which automatically adjust an investor’s asset allocation to more conservative portfolios as a child nears college age, have been modified to be more differentiated and to provide a new, more conservative track.