Account owners may choose from age-based evolving portfolios and non-evolving portfolios. Each portfolio invests in one or more mutual funds or separate accounts managed by a variety of investment managers and vary according to risk and potential growth.

Age-based evolving portfolios are designed to take into account the beneficiary's current age and the number of years before the beneficiary is expected to need funds from the account for higher education expenses.

Account owners may choose to invest in an age-based portfolio other than the one that corresponds to the beneficiary's age. The asset allocations of the age-based portfolios (except for the Piedmont portfolio) shift every three years toward that of the Piedmont portfolio (100% stable value), which is designed to help reduce the risk of principal loss.

Click here [PDF document, 209kb, opens in new window] to view the age-based portfolio evolution timeline.

Click here [PDF document, 142kb, opens in new window] to view the asset allocations of the age-based evolving portfolios.

Non-evolving portfolios are made up of mutual funds where the target asset allocation remains fixed.

Click here [PDF document, 142kb, opens in new window] to view asset allocations of the non-evolving portfolios.

Prospective account owners should read the entire Enrollment Kit, the Program Description, and the VEST Account Agreement and Application. Seek the advice of an attorney or tax professional concerning any financial, tax or legal implications related to opening a VEST account. The Virginia College Savings Plan cannot provide tax, legal or financial advice.

You have the opportunity to open multiple VEST accounts for the same beneficiary in different portfolios and change investment options once every calendar year, or whenever the beneficiary is changed.

Past performance is not a guarantee of future performance and returns. See the Performance page to view portfolio performance over the past several years.