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FL College Investment Plan |
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State Provider: Florida; Net Assets ($mil):
$169.9 as of
10-31-09 |
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Florida is one of the few states that plays a central role in managing its 529 plan; and it's done a good job of keeping costs down here. After a $50 application fee, the only cost to investors is an annual 0.75% administration fee. There are no additional costs associated with the underlying investment options. Those investment options are serviceable and straightforward. However, while we're pleased the program has exposure to smaller-sized U.S. companies, we'd still like to see some international exposure here, since that would add diversification and may be appealing to investors with longer-term horizons. We'd also like to see a few more individual funds offered to improve the plans flexibility for more hands-on investors or those who to want to augment the age-based portfolios. Those drawbacks aside, the program's strong suit is its simplicity and reasonable costs. (Information as of 03/03/2009) |
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| Availability: Sales Channel |
Resident: Direct
Non-Resident: Direct
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| Annual State Tax Deduction |
| Max Investment/Beneficiary |
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$349,000 |
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(includes appreciation)
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| Mos. to Qualified Withdrawal |
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Public, Private & International
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Age-Based Portfolios
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| Static Portfolios |
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| US Stock
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Bond |
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| Total International Funds: |
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| Underlying Funds’ Ratings |
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| Overall Morningstar Rating |
# Equity
Funds |
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# Bond
Funds |
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| Ratings as of
10-31-09 |
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| Range |
0.01 |
| 529 Plan Avg |
0.8 |
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| Portfolio Expense Ratio Range |
| Fee to Change Beneficiary |
| Share Classes: Sales Charge |
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| Initial Purchase |
$250 |
$250 |
| Additional Purchase |
25 |
25 |
| Initial (AIP) |
25 |
25 |
| Additional (AIP) |
25 |
25 |
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