UMB Offers 'Terror-Free' 529 Fund

Missouri State Treasurer Sarah Steelman announced Wednesday that the state will offer a “terror-free” fund in its 529 plan from UMB Asset Management.

The fund will not invest in companies that have ties to countries that support terrorism. In creating the fund, the Missouri Investment Trust partnered with Conflict Securities Advisory Group to identify and screen publicly traded companies that have direct ties to Iran, Syria, Sudan and North Korea.

A recent national poll by market research firm Luntz, Maslansky found that 85% of investors want to avoid funds with such ties.

“I’m excited to announce that every person in this country can now make sure their investments are terror-free,” Steelman said. “The strength of our country has always been in giving the power to the people, and today I am thrilled to make such an important way available to everyone who wants to save for their children’s future.”

Roger Robinson, president and chief executive officer of Conflict Securities Advisory Group, said, “We have seen the movement toward terror-free investing develop substantial momentum over the past few years as people increasingly choose to invest in a security-minded manner that reflects their view on corporate decisions to partner with countries that support terrorism.”