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.

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.

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.