Evergreen Investments and OppenheimerFunds will jointly assume responsibility for State Street subsidiary Schoolhouse Capital’s management of New Mexico’s 529 college savings plan.

State Street announced last month that it would exit the 529 college savings plan business, of which it ran all five of the offerings in New Mexico and one in Oregon. As of Jan. 31, the two firms will run all aspects of New Mexico’s 529 plan, including investment management, distribution, operations and service. Oppenheimer and Evergreen had previously served as distributors of Schoolhouse Capital’s 529 plans.

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