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The Conservative Allocation Portfolio primarily looks to preserve capital through a conservative asset allocation. It contains larger allocations to diversified fixed income and cash, but also contains exposure to both domestic and international equity funds for some upside potential.
Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.
Average annual total returns shown "with sales charges" are net of the following: (1) the current annual program management fee of 0.32% of plan portfolio assets; (2) the current annual service fees of 0.25% (not applicable for Class I) and distribution fees (Class C only) of 0.75% for enrollment year and target risk portfolios or 0.40% for individual and multi-fund portfolios; (3) initial sales charges up to 4.25% (Class A) or 1.00% CDSC for periods one year or less (Class C); and (4) annual expenses of the share classes of the underlying mutual funds in which Plan portfolios invest, currently up to 0.80% of assets (as of 25 Jun 2021), which may vary. The Principal Plus Interest Portfolio does not charge an initial sales charge nor does it assess an annual sales fee; the program management fee is currently waived for the portfolio. Plan fees, expenses and sales charges are subject to change. Underlying fund expenses will vary and in some cases have been reduced by fee and expense waivers or reimbursements, which may be ended at any time reducing future performance.
The above table, from the Plan Description, lists the investments in which the Conservative Allocation Portfolio invests and the percentage of the investment portfolio’s assets allocated to each of its investments. Please keep in mind that if you invest in the Conservative Allocation Index Portfolio, you will own interests in the Conservative Allocation Portfolio; you will not own shares in any of the following mutual funds.
1 There are no annual distribution and services fees on Class I units.
Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.
To help you compare the cost of investing, check out the “COST EXAMPLES” section of the Plan Description.
Net Asset Value (NAV): An investment option’s net asset value (“NAV”) per unit or unit price is calculated by dividing the value of its net assets by the total number of units outstanding. NAV per unit or unit price is based on the value of the Investment Option’s investments, including its holdings in underlying mutual funds. The NAV per share of each underlying mutual fund in which the Investment Options are invested normally is determined as of the close of regular trading on the NYSE.
MI Advisor Plan is offered by the State of Michigan. TIAA-CREF Tuition Financing, Inc. is the Program Manager and Nuveen Securities, LLC is the Distributor.
There are various risks associated with an investment in the MI 529 Advisor Plan; principal loss is possible. The MI 529 Advisor Plan’s Investment Portfolios are subject to the risks of the underlying fund(s) in which they invest and other risks, as described in the Plan Description. Responsible investing incorporates Environmental Social Governance (ESG) factors that may affect exposure to issuers, sectors, industries, limiting the type and number of investment opportunities available, which could result in excluding investments that perform well. To obtain a more complete description of the investment policies and risks of the underlying funds, please refer to the current prospectuses for the underlying funds.
The Enrollment-Based Investment Portfolio is currently divided into ten target Enrollment Year Investment Portfolios that invest in multiple mutual funds, each of which has a different investment strategy. Generally, the further out the enrollment year, the greater the Enrollment Year Investment Portfolio’s allocation to mutual funds that invest primarily in equity securities, which typically have a higher level of risk, but may have greater potential for returns than mutual funds that invest primarily in debt securities.
The Target Risk Portfolios are currently comprised of two Investment Portfolios. The Target Risk Portfolios are designed for account owners who prefer a diversified Investment Portfolio with a fixed risk level rather than a risk level that changes as the designated beneficiary ages.
Participation in the MI Advisor Plan does not guarantee that the account’s assets will be adequate to cover future tuition or other higher education expenses, or that a Designated Beneficiary will be admitted to or permitted to continue to attend an institution of higher education. Contributions to an Account and the investment earnings if any, are not guaranteed or insured by the State of Michigan, The Michigan Department of the Treasury, the State Treasurer of Michigan, the Michigan Education Savings Program, the Federal Deposit Insurance Corporation, any other government agency or entity or any of the service providers to the Michigan Education Savings Program, including, but not limited to, TIAA-CREF Tuition Financing, Inc. and Nuveen Securities, LLC.
Before investing, carefully consider the investment objectives, risks, charges and expenses of the MI 529 Advisor Plan, including whether the investor’s or the Designated Beneficiary’s home state offers any state tax or other benefits that are only available for investment in such state’s qualified tuition program. Other state benefits may include financial aid, scholarship funds, and protection from creditors. For this and other information that should be read carefully, please request a Plan Description at 866-529-8818 or visit MI529advisor.com.
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