my529 makes the grade for 2019
my529 again earned a seat at the head of the class after achieving top marks from Morningstar’s annual breakdown of 529 plans. For the ninth year in a row, my529 has been awarded the coveted Morningstar Analyst Rating™ of Gold, and Utah’s 529 plan was one of only four plans to receive the Gold rating in 2019.
Morningstar Research Services LLC, a leading provider of independent investment research, is a subsidiary of Morningstar Inc.
For a current or prospective account owner, a Morningstar Analyst Rating™ of Gold affirms that my529 is well-respected within the 529 industry and provides a high-quality investment vehicle for education.
“Utah’s my529 is set up to serve investors well for the long haul,” said Madeline Hume, Morningstar manager research analyst for multi-asset and alternative strategies, in her October 22 report.
The report by Morningstar’s Manager Research Group is the equivalent of an industry report card for 529 plans. The analysts evaluated 62 plans nationwide for oversight, underlying investment quality, fees, performance and the asset allocation strategy for the age-based portfolios. Morningstar said that the Gold-rated plans, also hailed as “The Valedictorians,” follow industry best practices, offer robust investment options and low fees, and satisfy residents and nonresidents.
A Morningstar Analyst Rating™ for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Morningstar does not represent its analyst ratings to be guarantees. Please visit Morningstar.com for more information about the analyst ratings, as well as other Morningstar ratings and fund rankings.