The multi-firm offering, which includes eight multi-firm, age-based portfolios, provides access to an array of funds representing a broad range of underlying fund managers, selected from Fidelity’s FundsNetwork platform, according to a press release.
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 day-to-day by Andrew Dierdorf and Christopher Sharpe, portfolio managers in Fidelity Asset Management’s Asset Allocation Division.
“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, in the announcement.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.
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