Products April 7, 2003

Legg Mason Jumps Into 529 Competition

April 7, 2003 (PLANSPONSOR.com) - Legg Mason Wood Walker, Inc. has added its name to the list of those offering 529 college savings plans.
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According to an announcement, the Legg Mason Core4College 529 Plan offers college savers in any state a series of 15 portfolios:

  • Four are asset allocation models whose asset mixes are based on the number of years remaining until the beneficiary reaches college. As the beneficiary reaches a pre-determined age, the portfolio shifts to a more conservative mix.
  • The remaining 11 portfolios include small-, mid-, and large-cap US equity funds, international equity funds, fixed income funds, and money market funds. Core4College offers a maximum contribution limit of $305,000 per beneficiary.

The firms who manage the underlying funds in the Core4College portfolios are Legg Mason Funds Management, Inc., Royce & Associates, LLC, Western Asset Management Company, Brandywine Asset Management, LLC, and Batterymarch Financial Management.

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The Legg Mason Core4College 529 Plan will be distributed through Legg Mason’s network of financial advisors and Legg Mason Funds Investor Services, the firm’s mutual fund distribution arm.

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