Nasdaq Fund Network Adds 555 New 529 Plan Share Classes in 2021
Nasdaq, Inc. (NDAQ) has reported a substantial growth in 529 plan share classes, adding over 550 new classes to the Nasdaq Fund Network in 2021, marking a 68% year-over-year increase. This is the largest increase recorded to date. The Nasdaq Fund Network now features over 1,300 share classes and provides searchable ticker symbols and daily pricing, enhancing transparency for investors. Additionally, Nasdaq is partnering with ISS Market Intelligence to produce a quarterly 529 Scorecard aimed at improving awareness and understanding of 529 plans among advisors and clients.
- 68% increase in 529 plan share classes added to Nasdaq Fund Network in 2021.
- Over 1,300 share classes now available, enhancing investment options.
- Partnership with ISS Market Intelligence to publish a quarterly 529 Scorecard to increase product awareness.
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New Share Classes Account for
NEW YORK, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ) announced today that it added over five hundred and fifty 529 plan share classes to the Nasdaq Fund Network in 2021, a
Nasdaq also added six new state plans to the Nasdaq Fund Network in 2021: BlackRock in Ohio, Nuveen in Colorado, My529 in Utah, Franklin Templeton in New Jersey, Fidelity in Connecticut, and Voya in Wisconsin. Currently over 1,300 529 plan share classes are registered on Nasdaq Fund Network, covering 12 states.
“Working with Nasdaq to provide more transparency into our state plan 529 programs has been well received,” said Ron Hazel, Vice President, College Savings Plan Relationship Manager & Retirement Key Account Management with Fidelity Institutional. “Advisors are looking for better ways to communicate with their customers and providing searchable symbols to view pricing data for 529 savings investment options allows them to do so.”
The growth in 529 plans registration reflects broader investor demand in market transparency and immediate access to information of their investments. By creating a ticker symbol for 529 plans through Nasdaq Fund Network, advisors and investors now able to easily access accurate and reliable daily pricing information as well as historical performance through major search engines and financial news sites. Previously, accessibility to reliable and accurate daily price for 529 plans is limited to specific sites.
“Nasdaq believes that our investment community is better served with greater transparency and efficiency,” Oliver Albers, Senior Vice President and Head of Data, Investment Intelligence, Nasdaq. “We are pleased to provide increased discoverability through the registration of unique tickers, allowing individuals and families investing in 529 plans to easily access pricing information and performance of their investments.”
According to ISS Market Intelligence, access to reliable and current performance information of 529 plans is still a challenge, with more than
To learn more about 529 Scorecard: https://www.nasdaq.com/solutions/nasdaq-fund-network-529s
About Fidelity Institutional: Fidelity Institutional is an independent company, unaffiliated with Nasdaq. There is no form of legal partnership, agency affiliation, or similar relationship between Nasdaq and Fidelity Institutional, nor is such a relationship created or implied by the information herein.
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