Top Child Trust Funds Article Discussion Area
Comments
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It seems worthwhile to update this to say that children who don't have a CTF are eligible for a Junior ISA regardless of when they were born.0
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I suggest anyone with kids stuck in CTFs should sign the e-petition regarding merging CTFs with Junior ISAs. It's number 7468.
epetitions.direct.gov.uk/petitions/74680 -
hi am hoping anyone can help and give me some advice. My daughter has come in2 some inheritance but am strugglin 2 find an account that will hold it until she is 18 but also that will accept 2 signatures bcause of the trustees, i'm not allowed as i am not 1 of the trustees. has any1 ever gone through this n can any1 help me plz as the solicitor wants the cheque collected n sorted ASAP other wise the trustees will b liable 4 any loss of interest.0
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Hello all, Help Child trust fund account being withdrawn
On advice I invested in the close asset management UK escalator 100 ACC fund for the child trust funds for my 2 kids but the share centre has decided to withdraw it with effect from 16th of December . The letter says the fund manager has announced that in the current interest rate environment, the ability of the escalator funds to provide both capital protection and meaningful exposure to any growth equities markets is challenged.
They plan to return it as cash and will pay 162.56 pence per unit.
Can anyone suggest a good home for my CTF for 2 kids please? Ideally I want one where the capital is protected but I am open to advice as I don't know much about it. I called and was told they have over 2000 products.0 -
Hi,
I have 2 cheques to invest for my daughter, one from the government and one from a family member. Both cheques are made out to my daughter and I don't know what to do with them! All the accounts I have researched require cheques to be made out to the bank when you open the account or add to it.
Anyone know how I can use cheques made out in my daughters name?
Thanks for your help!0 -
One from the government....Do you mean that you have a Child Trust Fund voucher? If so, presumably this will have to be invested in a Child Trust Fund Account? http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ChildBenefitandChildTrustFund/ChildTrustFund/AnintroductiontotheChildTrustFund/DG_193690
This would seem to indicate that a child can only have one of the new JISA accounts if he/she is not entitled to a CTF.
http://www.moneysavingexpert.com/savings/child-trust-fund-vouchers
might be of interest.
Presumably you could open the account and then deposit both cheques - you might have to add the account number next to your child's name on the family member's cheque.
For general advice on saving for children see http://www.moneysavingexpert.com/savings/child-savings-tax-free
and http://www.hmrc.gov.uk/tdsi/children.htm0 -
Yes it's the £50 Child Trust Fund Voucher from the government. So it looks like it has to be a Child Trust Fund then. I was just a little confused as thought these were no longer operating.
Thanks for your help!0 -
Advice needed please.
Over the years (My daughter is 9 at the end of the month) I have invested £1500. This was with a LV shares account. They transferred to family investments a year or two back and it has been sinking slowly ever since. The latest projection from them estimates that it will LOSE (yes, LOSE) £300 over the next nine years!
That seems nonsense. I'm tempted to simply move it into a cash fund. Before I do that, are there any share funds that are doing any better?
I'm happy with money going up and down but down and down further is not an option.0 -
Quote: "That seems nonsense. I'm tempted to simply move it into a cash fund. Before I do that, are there any share funds that are doing any better?"
My son's CTF is with F&C and I am very happy with them. It has managed to grow since opening (ie value is greater than the contributions) despite the crash. His investments are now split between the F&C Investment Trust and Global smaller companies trust (the latter more adventurous).
It is a non stakeholder and has very low charges. You have a pretty good range of funds to choose from. You are alowed 2 free switches a year. The Foreign & Colonial Investment Trust appears well known and respected (managed by Jeremy Tigue), and you can find articles about it if you google.
Link is www.fandc.com/new/it/Default.aspx?id=783970 -
Hello all, Help Child trust fund account being withdrawn
On advice I invested in the close asset management UK escalator 100 ACC fund for the child trust funds for my 2 kids but the share centre has decided to withdraw it with effect from 16th of December . The letter says the fund manager has announced that in the current interest rate environment, the ability of the escalator funds to provide both capital protection and meaningful exposure to any growth equities markets is challenged.
They plan to return it as cash and will pay 162.56 pence per unit.
Can anyone suggest a good home for my CTF for 2 kids please? Ideally I want one where the capital is protected but I am open to advice as I don't know much about it. I called and was told they have over 2000 products.
Hi krissy08
I too invested in the close asset management UK escalator 100 ACC fund for the child trust funds and got the letter saying that it was being withdrawn and that I was getting 162.62 pence.
Did you find a good deal? I contacted the share centre about the withdraw and they sent me a form to fill in before I can talk about re-investment.
I received another letter today saying that the Child Investment Account has been credited and the respective funds are no longer on my account. I am not really sure what that means.
I assume thought I cannot withdraw the cash myself to invest somewhere else?0
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