Products July 1, 2002

Schoolhouse Launches Multi-Manager 529

January 7, 2002 (PLANSPONSOR.com) - Schoolhouse Capital, LLC, a subsidiary of State Street Corporation, introduced the Arrive Education Savings Plan - a multi-manager 529 college savings plan.
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The Arrive Plan features investment options from:

  • Evergreen Investments, 
  • Prudential Financial, 
  • State Street Global Advisors, and 
  • SunAmerica Mutual Funds.

Schoolhouse Capital will provide program management for the plan, which will feature multi-share class pricing and will be sold by Evergreen Investments, Prudential Financial and SunAmerica Mutual Funds through their respective distribution channels.

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The Arrive Plan is expected to be available to investors in the spring of 2002.

Investing June 28, 2002

Mutual Fund Assets Shrink in May

June 28, 2002 (PLANSPONSOR.com) - In May the combined assets of the nation's mutual funds fell by $10.8 billion, settling at $6.9 trillion, according to figures from the Investment Company Institute (ICI).
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Stock mutual funds attracted just $4.8 billion in new money in May, significantly less than the $12.9 billion in net inflows reported the previous month, ICI’s mutual fund survey data show.

Bond funds pulled in $10.6 billion over the month, compared to an April inflow of  $7.8 billion, while hybrid funds reported a $1.5 billion inflow and money market funds leaked $4.1 billion.

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Of the equity fund inflows, domestic stock funds attracted $2.85 billion, down substantially from $12.3 billion the previous month, while international stock funds drew $2 billion in new money over the period. The overseas funds figure was up from a $667 million April inflow.

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