Age-Based Conservative

(Beneficiary age 17-18)

The Age-Based Conservative Option invests in the following mix of equity, real assets, fixed income, and/or bank deposits funds allocated based on the current age of the Beneficiary. The Age-Based Portfolio adjust over time so that as the Beneficiary nears college age each Age-Based Portfolio’s allocation between equity, real assets, fixed income, and bank deposits funds becomes more conservative relative to the allocation in earlier years.

Underlying Investments

Portfolio Performance

Past performance is not necessarily an indication of future performance. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may be lower or higher than the performance data above. Performance information is current as of the most recent timeframe referenced above and is net of the Underlying Investment expenses, the program management fee, state fee, and any applicable account servicing fee.

For more information about the risks associated with each Investment Option and Underlying Investments, read the Program Disclosure Statement and the fund prospectus. The Investment Options’ risks are directly related to the risks of the Underlying Investments.

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