Oregon College Savings Plan fund loses 38 percent
Thursday, December 18, 2008 10:49 AM PST
PORTLAND (AP) — A conservative fund that is part of the Oregon College Savings Plan has lost 38 percent of its value this year even as comparable funds posted 4 percent gains.
OppenheimerFunds manages the portfolios for State Treasurer Randall Edwards, and The Oregonian newspaper reports Oregon’s treasury officials may get rid of the Oppenheimer Core Bond Fund.
The funds were marketed toward and tailored for thousands of families with children in college or about to start college. Many of the families can’t afford to take financial losses.