New Mexico's 529 Arrive Education Savings Plan is adding 14 individual mutual funds to the plan. The addition of the new funds brings the plan's total choices to 23 and expands the options to include large-cap, mid-cap, multi-cap, small-cap, international and fixed income funds.

Schoolhouse Capital, a division of State Street Corp., manages the plan, and Evergreen Investments, Prudential Financial and AIG SunAmerica jointly distribute it. A total of 12 companies, including Evergreen, Prudential, AIG and State Street, manage funds and portfolios in the plan. The eight other investment managers that act as sub-advisors in the plan are: Jennison Associates, Marsico Capital Management, Oakmark Funds, Janus Capital Management, Thornburg Investment Management, Credit Suisse Asset Management, Pilgrim Baxter & Associates and Bank of Ireland Asset Management.

"The individual mutual fund portfolio option allows investors to custom design an investment strategy that is most appropriate for their needs," said Ralph Constantino, chief executive officer of Schoolhouse Capital.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.