Education Trust of Alaska John Hancock Freedom 529 plan-Portfolio 2025-2028
JEFAX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Corporate Law Division T-55 Boston MA United States of America 02117
- IPO Date
- Nov 11, 2021
- CIK
- 0000917406
- Website
- jhinvestments.com
- Similar Companies
- Business
- Education Trust of Alaska John Hancock Freedom 529 plan-Portfolio 2025-2028 (JEFAX) operates as an enrollment-based investment portfolio within the John Hancock Freedom 529 education savings plan, sponsored by the Education Trust of Alaska and managed by T. Rowe Price Associates, Inc. The portfolio offers a one-stop solution for 529 education savings through automatic risk adjustment, shifting from approximately 30.51% equity and 69.49% fixed income to a more conservative allocation over time as the beneficiary approaches college enrollment between 2025 and 2028; it utilizes 19 underlying funds from a diverse group of over 20 asset managers, including top holdings such as T. Rowe Price Limited Duration Inflation Focused Bond Fund (23.93%) and T. Rowe Price Spectrum funds, with total net assets of $995.21 million. The plan provides tax-advantaged savings for qualified education expenses at eligible institutions nationwide and internationally, including tuition, fees, room and board, books, computers, up to $10,000 for K-12 tuition, student loan repayments up to $10,000, and Roth IRA rollovers up to $35,000, marketed nationally through financial advisors and broker-dealers via John Hancock Distributors LLC. The Education Trust of Alaska, formed in April 2001 by the University of Alaska as trustee and headquartered in Alaska, oversees the John Hancock Freedom 529 alongside two other plans (Alaska 529 and T. Rowe Price College Savings Plan), holding approximately $11.1 billion in assets for 314,000 beneficiaries as of June 30, 2025; it targets families saving for postsecondary education, vocational training, apprenticeships, and continuing education, with nationwide reach enhanced by Alaska creditor protection and eligibility for in-state University of Alaska tuition rates after two years of account holding. Unique features include state tax deductions or credits in nine states (Arizona, Arkansas, Kansas, Maine, Minnesota, Missouri, Montana, Ohio, Pennsylvania), an Education Planning Center for college guidance and scholarships, and maximum contributions up to $400,000 per beneficiary. Recent developments include sustained asset growth to over $11 billion across trust plans amid ongoing partnerships with T. Rowe Price for management, Manulife John Hancock Investments for multimanager oversight and distribution, and the University of Alaska for governance, with annual external audits by PwC and consulting from Callan Associates; the portfolio maintains its Morningstar Target-Enrollment 2027 category strategy without noted acquisitions, funding rounds, or name changes in the past 1-2 years, though the broader plan benefits from 2024 federal expansions allowing Roth rollovers and student loan uses. Fee structures feature a 1.07% expense ratio for JEFAX, following prior reductions in 2014 that supported assets surpassing $4 billion at that time. The trust continues expanding participation through employer outreach, Permanent Fund Dividend integrations, and national marketing.