Schoolhouse Capital, the program manager for New Mexico’s 529 plan, and New York Life Investment Management, the plan’s distributor, have added a stable value portfolio from New York Life to the plan, CollegeSense 529 Higher Education Savings Plan.

Once a year, New York Life establishes a fixed minimum interest rate higher than money market mutual funds for the portfolio, whose principal is guaranteed. The offering is meant to appeal to conservative investors, or those whose children are near college age.

"The Stable Value Portfolio provides an attractive level of risk management that some investors find particularly appealing," said Beverly J. Moore, managing director, NYLIM Retail Markets.

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