best Childrens regular or other savings account

largeloins

Can anyone help?
I have £1000 to set up an account for my 2 and a half year old daughter and also will pay £60 per month into it plus the occasional gift of money from her relatives.

The Halifax only allows £100 on set up and £100 per month for a Children's Regular Saving Account, and £250 on set up and £250 per month on a Regular Savings Account in my name (I don't pay tax). Yes I know I could pay an average £143.33 per month in an account in my name leaving £106.67 per month for prezzie top ups, but wanted know if there's anything else around.

I want a long term saving mechanism and don't mind if I have to tart around.
Has anyone got any suggestions
thanks

woody_56

I have money invested for the grandchildren with WITAN their childrens jump fund it has been quiet good over the last year slow but steady.I have also spoken on the phone this week to SCHRODERS who have three different funds at different risk levels.SCHRODERS S&P MULTI MANAGER PORTFOLIOS,THEY ACTUALLY INVEST IN THE TOP SIX DIFFERENT FUND MANAGERS TOP PERFORMING FUNDS ,THUS GIVING A WIDER SPREAD OF RISK ACROSS ABROAD SPECTRUM OF UK AND FOREIGN SHARES LOOKS VERY GOOD,BUT THATS ONLY MY OPINION. THEY TAKE A MINIMUM OF 1000 POUNDS START UP AND 50 POUNDS MIN A MONTH HOPE THIS MIGHT HELP. LOOK AT THEIR PERFORMANCE ONLINE JIM

ReportInvestor

Compare Witan IT

With Foreign & Colonial IT

Both offer very cheap savings vehicles with TERs (Total Expense Ratios) excluding CTF charges of around 0.5%. Both have cheapish CTF wrappers.

Both diversify their investments beyond the UK. See the links for where they are currently invested.

Both would qualify as possible candidates for someone thinking of long term stock market investment in a diversified portfolio and saving on a regular basis.

Caution - Potential investors should be aware when comparing the past year's stellar performance of Investment Trusts v other CTF offerings like Unit Trusts, that Investment Trusts have benefited from a one off narrowing of the discount to Net Asset Value. These discounts could widen at some stage in the future to your disadvantage.

But if you go for a top charging stakeholder CTF at 1.5% pa + other tricks that they don't tell you about, that is also to your long term disadvantage - and charges are a given certainty.