The New York State 529 College Savings Program has appointed JP Morgan Asset Management as its investment manager and distributor, Pensions & Investments reports. JP Morgan will be responsible for managing the $1.9 billion College Savings Advisor Plan.

Previously, the mandate was managed by Columbia Management, whose contract will expire in August 2011. Vanguard Group has also been hired to manage investments in the plan’s direct-sold accounts, adds Bloomberg.

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