CollegeChoice 529 Investment Plan, an affiliate of Bank One Corporation, announced Tuesday that it has expanded its college savings portfolio to include five new funds and a dollar-cost averaging feature.

The Columbus, Ohio-based college funding firm has added the Fidelity Advisor Inflation-Protected Bond Fund, Franklin Mutual Advisors Mutual Shares Fund, MFS Massachusetts Investors Growth Stock Fund, Low-Price Stock Fund and Templeton Foreign Fund. Its seven existing portfolios are invested in One Group mutual funds.

CollegeChoice has also introduced a dollar-cost averaging feature that enables investors to set up a monthly or quarterly investment into custom portfolios at no extra charge. The feature provides investors with an efficient means to shift from one investment strategy to another, the company said. Essentially, a lump-sum payment is made into one particular portfolio and then cash is withdrawn at set intervals to be reallocated into other College Choice portfolios.

Investors receive the potential tax and estate planning benefits of a fully invested 529 plan upon making the initial payment. The minimum account balance to enter the dollar-cost averaging program is $5,000 with a minimum transfer per portfolio of $500.

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