Texas Prepaid Higher Education Tuition Board, Austin, overhauled the investment lineups of its $321.3 million Texas College Savings Plan and $181.2 million LoneStar 529 Plan, said transition guides posted on the plans’ websites.
The changes were made following the selection of NorthStar Financial Services Group as the plans’ new service provider, replacing OFI Private Investments. The transition was completed Sept. 4.
The College Savings Plan now has seven fund managers, and the LoneStar 529 plan has nine.
Equity funds managed by Dimensional Fund Advisors, Dodge & Cox, T. Rowe Price Group and Artisan Partners Asset Management; a fixed-income fund managed by Dimensional; and a money market fund managed by Invesco were added to both plans.
A William Blair equity fund and Franklin Templeton Investments equity fund were added to the LoneStar 529 plan only.
Additionally, Vanguard Group’s total bond market index fund was added to the College Savings Plan only, while Vanguard’s inflation-protected securities fund and developed markets index fund were removed from the savings plan only. TIAA-CREF’s S&P 500 index fund and a Dreyfus bond market index fund were also removed from the College Savings Plan only.
Funds removed from both plans were OFI Global Asset Management equity and money market funds and an equity fund managed by Thornburg Investment Management.
Spokesman Chris Bryan could not be reached for additional information by press time.
