|[February 07, 2013]
District's 529 College Savings Plan Reaches $250 Million in Assets Under Management
BETHESDA, Md. --(Business Wire)--
Calvert, one of the largest financial services firms in the Washington
D.C. area, announced today that the District of Columbia's 529 College
Savings Plan has reached $250 million in assets under management. Over
14,000 investors - D.C. residents and non - residents - have their
savings with the DC College Savings Plan.
This milestone marks the commitment that parents and grandparents have
made to their children's education, and is a major accomplishment for a
jurisdiction as small as the District of Columbia.
"We are delighted that the DC College Savings Plan now has $250 million
in assets. With today's financial challenges, it is important that
families are saving more for higher education," said Jeffrey Barnette,
District of Columbia Deputy Chief Financial Officer and Treasurer. "We
were able to reach this goal with a strong partnership with Calvert
Investments. Calvert has provided highly effective marketing and
community outreach to every ward in the city."
One key aspect of the Plan's community outreach has been its partnership
with the D.C. College Access Program (DC-CAP). Together with DC-CAP, the
DC College Savings Plan offers $44,000 annually in college scholarships
to District public school students in all eight wards of Washington, D.C.
The DC College Savings Plan, launched in November of 2002, is the only
529 plan in the nation that offers investors a full range of sustainable
and responsible investments. To learn more about the plan, visit DC529.com.
"Starting a college savings plan sends a powerful message to your
children: that you believe in their future," said Laurent Ross, Calvert
Investments' College Savings Plan Manager. Th DC College Savings Plan
has attracted nationwide focus by ranking in the top five performing
advisor-sold 529 plans for 1-year and 3-year performance, as well as the
top 10 in 5-year performance, throughout 2012, as rated by Savingforcollege.com.
The DC College Savings Plan allows parents, grandparents and others to
save for college tuition on a tax-deferred basis. The Plan offers
individual fund investment options as well as a series of five separate
age-based investment options, ranging from aggressive to conservative
choices. For more information on the Plan details, go to www.dc529.com
or call Calvert at 800.987.4859.
Savingforcollege.com's 529 Performance Ranking
Savingforcollege.com's 529 Performance Ranking Methodology
Allocation Category Rankings: First, portfolios from all direct-sold and
advisor-sold 529 plans are assigned to a specific asset-allocation
category. SFC utilizes seven (7) asset-allocation categories in the
rankings. Then, within each category, portfolios are compared and ranked
based on published investment returns. Composite 529 Plan Performance
Rankings: An overall (or "composite") performance score is calculated
for each 529 plan for a given performance period based on the plan's
performance rankings for each asset allocation category as described
above. To calculate the composite ranking for the plans, SFC recomputes
the asset allocation category rankings based on a standard normal
distribution of the returns included within each category. Rankings are
based on investment performance as of September 30, 2012. Past
performance is no guarantee of future results. For more information on
SFC ranking methodology, go to http://www.savingforcollege.com/529-plan-composite-rankings/file/white_paper.pdf.
For more information on the DC College Savings Plan, please contact
your financial advisor or call 800.987.4859 (800.368.2745
for non-District residents). An investor should consider the
investment objectives, risks, charges, and expenses of an investment
carefully before investing. The District of Columbia College
Savings Trust Program Disclosure Booklet contains this and other
information. Read it carefully before you invest or send money.
An investor should also consider, before investing, whether the
investor's or designated beneficiary's home state offers any state tax
or other benefits that are only available to residents of that state. An
investment in another state's 529 college savings plan may not offer
The Government of the District of Columbia does not guarantee
investments in the program. Investment involves risk, including possible
loss of principal.
The DC College Savings Plan is underwritten and distributed by Calvert
Investment Distributors Inc., member FINRA/SIPC and a subsidiary of
Calvert Investments, Inc.
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