The Vanguard Group will manage a bevy of new Ohio Tuition Trust Authority investment options in the state’s 529 college savings plan.

Fifteen passively managed index options will be added to Ohio Tuition's CollegeAdvantage 529 plan, even as the actively managed options already in place remain under the management of Putnam Investments, the company said.

"With the addition of The Vanguard Group, the Tuition Trust is also providing Ohioans with a choice of investment managers and investment management style," said Ohio Tuition Trust Authority Executive Director Jackie Williams.

By adding aged-based, multi-fund, individual fixed-income and equity options, Williams said Ohio Tuition Trust Authority had given, through Putnam and Vanguard, the opportunity to "potentially reap the benefits of the two different investment styles."

More importantly, the addition of Vanguard will convert Ohio Tuition Trust's 529 plan into one of the lowest-feed 529s in the country.

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.