Common use of Investment Performance Clause in Contracts

Investment Performance. The following chart shows performance and Benchmarks of the Invest529 Portfolios since inception. Please note the following:  Past performance is no guarantee of future results. Please review the entire Invest529 Program Description before making any investment decisions.  All investment return information is calculated by BNY Mellon Asset Servicing. Returns are presented net of management fees and Invest529 Administrative Fees. Returns for periods greater than one (1) year are annualized.  Newer Invest529 offerings do not yet have an established performance history for all categories listed.  The Portfolio Benchmark is a blended composite Benchmark that reflects the asset strategic Benchmark index components for each underlying investment manager, and an adjustment reflecting the Invest529 Administrative Fee for the Portfolio.  Performance returns are calculated at the beginning with the first full month that funds were invested.  Tuition Track Portfolio performance will be added once historical performance is realized. 2018 and 2021 Portfolios are closed to new participants. Virginia529 is a body politic and corporate and an independent state agency of the Commonwealth of Virginia. Virginia529’s enabling legislation is codified at Sections 23.1-700 through 23.1-713 of the Code of Virginia (1950), as amended. In its 1999 Session, the General Assembly unanimously passed legislation authorizing Virginia529’s Board to create one or more savings trust investment options in conformance with the provisions of IRC Section 529. Virginia529 is a special, non-reverting fund, and its enabling legislation provides that its money cannot be used by the Commonwealth of Virginia for any other purpose. The General Assembly may amend Virginia529’s legislation during any regular or special session of the legislature, subject to the Governor’s veto, and the General Assembly’s ability to override a veto. Virginia529 is administered by an 11-member Board, consisting of the Director of the State Council of Higher Education for Virginia or his designee; the Chancellor of the Virginia Community College System or his designee; the State Treasurer or his designee; the State Comptroller or his designee; and seven citizen members: four to be appointed by the Governor, one to be appointed by the Senate Committee on Rules and two to be appointed by the Speaker of the House of Delegates. State law mandates that the seven citizen members have significant experience in finance, accounting, law, or investment management. Members of the Board receive no