Effective January 2, Virginia529 has changed its investment structure for the Aggressive Growth, Moderate Growth and Conservative Income investment portfolios by eliminating its use of the Vanguard LifeStrategy funds and investing directly into the underlying Vanguard mutual funds of which the LifeStrategy funds are comprised. On average the change reduces manager fees roughly 70 percent.  

These passively-managed static investment portfolios invest in a specific asset allocation that remains the same over time and include a variety of risk objectives. These portfolios are among more than 20 options from which families may choose to customize their strategy for building college savings.