The Bright Directions Advisor-Guided 529 College Savings Program is sponsored by the State of Illinois and administered by the
Illinois State Treasurer, as Trustee. Union Bank & Trust Company serves as Program Manager and Northern Trust Securities, Inc.,
acts as Distributor. Investments in the Bright Directions Advisor-Guided 529 College Savings Program are not guaranteed or insured
by the State of Illinois, the Illinois State Treasurer, Union Bank & Trust Company, Northern Trust Securities, Inc., the Federal
Deposit Insurance Corporation, or any other entity.
An investor should consider the investment objectives, risks, and charges and expenses before investing.
This and other important information is contained in the Bright Directions Advisor-Guided 529 College Savings Program Disclosure Statement,
which can be obtained from your financial professional or at BrightDirections.com and should be read carefully before investing. You can lose
money by investing in a portfolio. Each of the portfolios involves investment risks, which are described in the Program Disclosure Statement.
Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other benefits such as financial aid, scholarship
funds, and protection from creditors that are only available for investments in that state’s 529 plan.
*The Morningstar Analyst Rating™ is not a credit or risk rating. It is a subjective evaluation performed by Morningstar’s manager
research group, which consists of various Morningstar, Inc. subsidiaries (“Manager Research Group”). In the United States, that subsidiary
is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. The Manager
Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. The Manager
Research Group uses this five pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark, or
in the case of exchange-traded funds and index mutual funds, a relevant peer group, over the long term on a risk-adjusted basis.
They consider quantitative and qualitative factors in their research, and the weight of each pillar may vary. The Analyst Rating
scale is Gold, Silver, Bronze, Neutral, and Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager
Research Group’s conviction in a fund’s prospects for outperformance. Analyst Ratings ultimately
reflect the Manager Research Group’s overall assessment, are overseen by an Analyst Rating Committee, and are continuously
monitored and reevaluated at least every 14 months. For more detailed information about Morningstar’s Analyst
Rating, including its methodology, please go to global.morningstar.com/managerdisclosures/.
The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund,
(ii) involves unknown risks and uncertainties which may cause Analyst expectations not to occur or to differ significantly from
what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund.
© 2018 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be
copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar
nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance
is no guarantee of future results.
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