ATLANTA, Nov. 2, 2016 /PRNewswire/ -- Invesco, Ltd
(NYSE: IVZ) the investment manager of Rhode Island's direct-sold CollegeBound Saver
and advisor-sold CollegeBound 529 earned Silver and Bronze ratings
respectively from Morningstar ratings awards respectively. The
plans were not previously ranked on Morningstar's list before
Invesco assumed investment responsibility and Ascensus College
Savings became the new program manager and record-keeper in
July 2016.
"Both plans offer one age-based track that follows a sensible
asset-allocation approach, gradually ratcheting down stock exposure
over time," wrote Morningstar. "The gradual shifts help college
savers avoid the potential of locking in losses from making a big
move out of equities after a market dip."
The CollegeBound plans were recognized for their high conviction
fundamental and factor-based active and passive managed strategies
– including Invesco funds and PowerShares ETFs in the advisor-sold
CollegeBound 529, as well as pulling in additional options in the
direct-sold CollegeBound Saver.
"It's not only about being able to meet the specific goals of
those saving for college, it's about the investment experience,"
says Duy Nguyen, chief investment
officer, Invesco Solutions. "In doing so, we created portfolios
that reflect our focus on issues like risk, diversification and
cost."
Invesco designed the 529 investment solutions specifically to
meet the need of the college saver. According to Morningstar the
portfolios follow a sensible approach and fees generally look
attractive.
"In partnership with Invesco, we have developed low-cost plans
with reduced risk and improved performance," said Rhode Island
General Treasurer Seth Magaziner.
"With our overhauled CollegeBound Saver and CollegeBound 529 plans
receiving praise from the investment community and individual
account holders, now is the perfect time for advisors to look in to
what we have to offer."
There is no minimum to open an account. To learn more, go to
CollegeBound529.com or CollegeBoundSaver.com.
About Invesco Ltd.
Invesco Ltd. is a leading independent global investment management
firm, dedicated to helping investors worldwide achieve their
financial objectives. By delivering the combined power of our
distinctive investment management capabilities, Invesco provides a
wide range of investment strategies and vehicles to our clients
around the world. Operating in more than 20 countries, the firm is
listed on the New York Stock Exchange under the symbol IVZ.
Additional information is available at www.invesco.com.
Before you invest, consider whether your or the beneficiary's
home state offers any state tax or other benefits that are only
available for investments in that state's qualified tuition
program.
For more information about CollegeBound 529, contact your financial
advisor, call 877-615-4116, or visit
www.collegebound529.com to obtain a Program
Description, which includes investment objectives, risks, charges,
expenses, and other important information; read and consider it
carefully before investing. Invesco Distributors, Inc. is
the distributor of CollegeBound 529.
CollegeBound 529 is administered by the Rhode Island Office
of the General Treasurer and the Rhode Island State Investment
Commission. Ascensus College Savings Recordkeeping Services, LLC,
the Program Manager, and its affiliates, have overall
responsibility for the day-to-day operations of CollegeBound 529
including recordkeeping and administrative services. Invesco
Advisors, Inc. serves as the Investment Manager. Invesco
Distributors, Inc. markets and distributes CollegeBound 529.
CollegeBound 529 portfolios invest in:
exchange-traded funds, mutual funds and separate accounts. Units of
the portfolios are municipal securities, and the value of the units
will vary with market conditions. Investments are not guaranteed or
insured by the State of Rhode
Island, the Rhode Island Office of the General Treasurer,
the Rhode Island State Investment Commission
Morningstar, Inc. 2016 :The Morningstar Analyst
Rating® for 529 College-Savings Plans is not a credit or
risk rating. The rating is the subjective summary expression of the
firm's forward-looking quantitative and qualitative analysis of a
529 college savings plan. Analyst Ratings are assigned on a
five-tier scale running from Gold to Negative. The top three
ratings (Gold, Silver, and Bronze) indicate that Morningstar's
analysts think highly of a 529 plan; the differences correspond to
the level of analyst conviction in the ability a plan's investment
options have to collectively outperform their respective benchmarks
and peers through time, within the context of the level of risk
taken. The Analyst Rating seeks to evaluate each plan's investment
options within the context of its objectives, appropriate
benchmarks, and peer groups. Usually annually (although subject to
change), Morningstar evaluates 529 plans in five different
areas—process, performance, price, parent, and people—and assigns
an Analyst Rating for more than 50 529 plans. Gold plans are the
analysts' highest-conviction recommendations. By giving a plan a
Gold rating, Morningstar analysts are expressing an expectation
that the plan's investment options collectively will outperform
their relevant performance benchmarks and/or peer groups within the
context of the level of risk taken over the long term (defined as a
full market cycle or at least five years). Plans earning Silver or
Bronze medalist ratings are also viewed positively by Morningstar
analysts, have notable advantages, and are likely to outperform
their peers. A Neutral rating indicates plans that are not likely
to deliver standout returns, but are also unlikely to significantly
underperform. A Negative rating indicates, in Morningstar's view,
that a plan's investment options have at least one major flaw
likely to significantly hinder future performance. While these
ratings can help with the selection process, they should not be the
only factor used to choose the investment.
Logo -
http://photos.prnewswire.com/prnh/20110131/MM39469LOGO-a
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/invesco-revamps-collegebound-program-receives-morningstar-silver-and-bronze-ratings-in-four-months-300356095.html
SOURCE Invesco Ltd.