OppenheimerFunds announced Monday its 529 business has reached $1 billion in assets under management, citing its customization features, competitive expense ratios and solid investment performance.

The New York fund complex serves as the program sponsor for the direct-sold Education Plan and the advisor-sold Scholar's Edge in New Mexico, as well, in Oregon, as the direct-sold Oregon College Savings and the advisor-sold OppenheimerFunds 529 plans.

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