CHICAGO, Nov. 2, 2023
/PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading
provider of independent investment insights, today announced
Morningstar Medalist Ratings™ for 54 of the nation's largest
529 college-savings plans, which represent more than 90% of the
industry's approximately $415 billion
in 529 plan assets as of Aug. 31,
2023. The Medalist Rating expresses Morningstar manager
research analysts' forward-looking views of which plans are best
suited to help investors reach their goals. It has five tiers—Gold,
Silver, Bronze, Neutral, and Negative. This year, Morningstar
analysts assigned two Gold ratings, 15 Silver ratings, 17 Bronze
ratings, 16 Neutral ratings, and four Negative ratings to 529
plans.
"Since we debuted our 529 ratings in 2012, we've been pleased
with the overall improvement in the 529 industry, namely through
more sophisticated investment approaches, increased state
oversight, and lower fees," said Hyunmin
Kim, manager research analyst at Morningstar. "Rightly,
asset managers no longer consider education savings plans as an
afterthought. With the right plan, families can effectively save
for education and even kickstart retirement plans, and our team
remains focused on providing these 529 ratings to guide investors
through the available options."
A full list of Morningstar's 529 ratings and key insights is
available in a Fund Spy article published today on
Morningstar.com.
In this year's assessment, Morningstar analysts upgraded 10
plans and downgraded seven plans. The table below shows these
changes.
Upgrades
(Distribution
Channel)
|
State
|
Current
Morningstar
Medalist Rating
|
Previous Morningstar
Medalist
Rating
|
Pennsylvania 529
Investment Plan (Direct)
|
PA
|
Gold
|
Silver
|
AZ529, Arizona's
Education Savings Plan
(Direct)
|
AZ
|
Silver
|
Bronze
|
DE529 Education Savings
Plan (Direct)
|
DE
|
Silver
|
Bronze
|
U.Fund College
Investing Plan (Direct)
|
MA
|
Silver
|
Bronze
|
New York's 529 Program
(Direct)
|
NY
|
Silver
|
Bronze
|
CollegeAmerica
(Advisor)
|
VA
|
Silver
|
Bronze
|
Invest529
(Direct)
|
VA
|
Silver
|
Bronze
|
NextGen College
Investing Plan Direct
(Direct)
|
ME
|
Bronze
|
Neutral
|
The Education Plan
(Direct)
|
NM
|
Bronze
|
Neutral
|
NextGen College
Investing Plan Select
(Advisor)
|
ME
|
Neutral
|
Negative
|
|
|
|
|
Downgrades
(Distribution
Channel)
|
State
|
Current Morningstar
Medalist
Rating
|
Previous Morningstar
Medalist
Rating
|
Michigan Education
Savings Program
(Direct)
|
MI
|
Silver
|
Gold
|
Oregon College Savings
Plan (Direct)
|
OR
|
Bronze
|
Silver
|
MOST Missouri's 529
Education Plan
(Direct)
|
MO
|
Bronze
|
Silver
|
ScholarShare College
Savings Plan (Direct)
|
CA
|
Bronze
|
Silver
|
CollegeChoice 529
Direct Savings Plan
(Direct)
|
IN
|
Neutral
|
Bronze
|
Bloomwell 529 Education
Savings Plan
(Direct)
|
NE
|
Neutral
|
Bronze
|
CollegeBound 529
(Advisor)
|
RI
|
Negative
|
Neutral
|
For more information on 529 college-savings plans – including
use cases and tips for selecting a plan – visit Morningstar's 529
Plan Guide on Morningstar.com.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent
investment insights in North
America, Europe,
Australia, and Asia. The Company offers an extensive line of
products and services for individual investors, financial advisors,
asset managers and owners, retirement plan providers and sponsors,
and institutional investors in the debt and private capital
markets. Morningstar provides data and research insights on a wide
range of investment offerings, including managed investment
products, publicly listed companies, private capital markets, debt
securities, and real-time global market data. Morningstar also
offers investment management services through its investment
advisory subsidiaries, with approximately $264 billion in
assets under advisement and management as of Sept. 30, 2023. The Company operates through
wholly- or majority-owned subsidiaries in 32 countries. For
more information, visit www.morningstar.com/company. Follow
Morningstar on Twitter @MorningstarInc.
Morningstar's Manager Research Group
Morningstar's Manager Research Group consists of various wholly
owned subsidiaries of Morningstar, Inc. including, but not limited
to, Morningstar Research Services LLC. Morningstar Manager Research
provides independent, fundamental analysis on managed investment
strategies. Morningstar views are expressed in the form of
Morningstar Medalist Ratings, which are derived through research of
three key pillars—People, Process, and Parent. The Morningstar
Medalist Rating is the summary expression of Morningstar's
forward-looking analysis of investment strategies as offered via
specific vehicles using a rating scale of Gold, Silver, Bronze,
Neutral, and Negative. A global research team issues detailed
research reports on strategies that span vehicle, asset class, and
geography.
Medalist Ratings are not statements of fact, nor are they credit
or risk ratings, and should not be used as the sole basis for
investment decisions. A Medalist Rating is not intended to be nor
is a guarantee of future performance. This press release is for
informational purposes only; references to securities should not be
considered an offer or solicitation to buy or sell the
securities.
©2023 Morningstar, Inc. All Rights Reserved.
MORN-R
Morningstar Media Contact:
Michael Claussen, +1 312 696-6037
or newsroom@morningstar.com
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SOURCE Morningstar, Inc.