Invesco Revamps CollegeBound Program, Receives Morningstar Silver and Bronze Ratings in Four Months

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Nov 02, 2016, 03:30 ET

ATLANTA, Nov. 2, 2016 /PRNewswire/ -- Invesco, Ltd (NYSE: IVZ) the investment manager of Rhode Island's direct-sold CollegeBound Saver and advisor-sold CollegeBound 529 earned Silver and Bronze ratings respectively from Morningstar ratings awards. The plans were not previously ranked on Morningstar's list before Invesco assumed investment responsibility and Ascensus College Savings became the new program manager and record-keeper in July 2016.

"Both plans offer one age-based track that follows a sensible asset-allocation approach, gradually ratcheting down stock exposure over time," wrote Morningstar. "The gradual shifts help college savers avoid the potential of locking in losses from making a big move out of equities after a market dip."

The CollegeBound plans were recognized for their high conviction fundamental and factor-based active and passive managed strategies – including Invesco funds and PowerShares ETFs in the advisor-sold CollegeBound 529, as well as pulling in additional options in the direct-sold CollegeBound Saver.

"It's not only about being able to meet the specific goals of those saving for college, it's about the investment experience," says Duy Nguyen, chief investment officer, Invesco Solutions. "In doing so, we created portfolios that reflect our focus on issues like risk, diversification and cost."

Invesco designed the 529 investment solutions specifically to meet the need of the college saver. According to Morningstar the portfolios follow a sensible approach and fees generally look attractive.

"In partnership with Invesco, we have developed low-cost plans with reduced risk and improved performance," said Rhode Island General Treasurer Seth Magaziner. "With our overhauled CollegeBound Saver and CollegeBound 529 plans receiving praise from the investment community and individual account holders, now is the perfect time for advisors to look in to what we have to offer."

There is no minimum to open an account. To learn more, go to CollegeBound529.com or CollegeBoundSaver.com.

About Invesco Ltd.
Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.

Before you invest, consider whether your or the beneficiary's home state offers any state tax or other benefits that are only available for investments in that state's qualified tuition program.

For more information about CollegeBound 529, contact your financial advisor, call 877-615-4116, or visit www.collegebound529.com to obtain a Program Description, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing. Invesco Distributors, Inc. is the distributor of CollegeBound 529.

CollegeBound 529 is administered by the Rhode Island Office of the General Treasurer and the Rhode Island State Investment Commission. Ascensus College Savings Recordkeeping Services, LLC, the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations of CollegeBound 529 including recordkeeping and administrative services. Invesco Advisors, Inc. serves as the Investment Manager. Invesco Distributors, Inc. markets and distributes CollegeBound 529.

CollegeBound 529 portfolios invest in: exchange-traded funds, mutual funds and separate accounts. Units of the portfolios are municipal securities, and the value of the units will vary with market conditions. Investments are not guaranteed or insured by the State of Rhode Island, the Rhode Island Office of the General Treasurer, the Rhode Island State Investment Commission

Morningstar, Inc. 2016 :The Morningstar Analyst Rating^® for 529 College-Savings Plans is not a credit or risk rating. The rating is the subjective summary expression of the firm's forward-looking quantitative and qualitative analysis of a 529 college savings plan. Analyst Ratings are assigned on a five-tier scale running from Gold to Negative. The top three ratings (Gold, Silver, and Bronze) indicate that Morningstar's analysts think highly of a 529 plan; the differences correspond to the level of analyst conviction in the ability a plan's investment options have to collectively outperform their respective benchmarks and peers through time, within the context of the level of risk taken. The Analyst Rating seeks to evaluate each plan's investment options within the context of its objectives, appropriate benchmarks, and peer groups. Usually annually (although subject to change), Morningstar evaluates 529 plans in five different areas—process, performance, price, parent, and people—and assigns an Analyst Rating for more than 50 529 plans. Gold plans are the analysts' highest-conviction recommendations. By giving a plan a Gold rating, Morningstar analysts are expressing an expectation that the plan's investment options collectively will outperform their relevant performance benchmarks and/or peer groups within the context of the level of risk taken over the long term (defined as a full market cycle or at least five years). Plans earning Silver or Bronze medalist ratings are also viewed positively by Morningstar analysts, have notable advantages, and are likely to outperform their peers. A Neutral rating indicates plans that are not likely to deliver standout returns, but are also unlikely to significantly underperform. A Negative rating indicates, in Morningstar's view, that a plan's investment options have at least one major flaw likely to significantly hinder future performance. While these ratings can help with the selection process, they should not be the only factor used to choose the investment.

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SOURCE Invesco Ltd.