RICHMOND, Va., Nov. 3, 2016 /PRNewswire/ -- Virginia529 inVEST (inVEST) has received a Morningstar Analyst Rating™ of Gold by independent investment research provider Morningstar, Inc. inVEST is one of only three programs awarded the top honor this year.
For the past two years, Morningstar had awarded inVEST a Silver rating for its "strong underlying manager lineup [that] has long made it a compelling option for investors." A 33-percent reduction in the program's administrative fee in July 2016 contributed to shifting inVEST to a Gold rating.
"We are pleased Morningstar recognizes our efforts to provide best-in-class college savings programs," said Mary Morris, CEO of Virginia529. "Combining low fees, careful oversight and diverse investment options provides American families an attractive tool with which to achieve their higher education goals."
Virginia529 continues to be the only state with two programs rated Gold or Silver in Morningstar's annual ratings. CollegeAmerica, Virginia529's advisor program offered in partnership with the American Funds, retained its Silver rating, making it one of the top ranked advisor-sold 529 college savings plans. Virginia529's prepaid tuition program and bank savings program are not evaluated in Morningstar's review.
"This recognition by Morningstar, with positive ratings in each of the five pillars of Parent, Process, People, Performance and Price, is particularly welcome as Virginia529 celebrates its 20th year helping families across the United States save for higher education," noted Virginia529 board chairman Shawn McLaughlin.
Learn more about inVEST and Virginia529 at Virginia529.com.
About Virginia529 College Savings Plan:
Virginia529 makes higher education more accessible and affordable for families and individuals. With more than $57 billion in assets under management and 2.4 million accounts as of August 31, 2016, Virginia529 is the largest 529 plan available. Four flexible, affordable, tax-advantaged programs–Virginia529 prePAIDSM (prePAIDSM), Virginia529 inVESTSM (inVESTSM), CollegeAmerica® and CollegeWealth®–and early commitment scholarship program SOAR Virginia® assist students of any age in reaching their higher education goals. For more information on Virginia529's college savings options, visit Virginia529.com or call 1-888-567-0540 to obtain program materials. These include information on Virginia529 programs, investment objectives, risks, charges, expenses and other important information; read and consider them carefully before investing. All investments are subject to risk, including the possible loss of the money you invest. Virginia529 encourages prospective participants to seek the advice of a professional concerning any financial, tax or legal implications related to opening an account. For residents of states other than Virginia: your state or the beneficiary's state of residence (if different) may sponsor a 529 plan that offers state income tax and other benefits not available to you through Virginia529 College Savings Plan. ©2016 Virginia College Savings Plan. All Rights Reserved.
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SOURCE Virginia529 College Savings Plan