CTF discussion area

wriggly

JoT1 wrote: »

I don't know whether to cut my losses and transfer the money I have left in my 2 daughters' shares based CTFs to a savings CTF. I have always intended to leave them

Noone here can help you decide what to do, but you already realise that transferring to cash now makes your losses real. I would console yourself with the thought that the only value that matters is the value when your daughters are 18, and if the shares can change so much in 18 months, imagine how different the value can be in 18 years.

One suggestion that I use when I feel the need to change an investment, write down what you plan to do, then wait a full month to do it.

denton6

Recieved my sons ctf statement today and im not happy.We pay in £10 per month so this year we have added £120.His ctf last for 2008 was worth £683.78 now this year after paying the £120 it is worth £547.18.Cant believe we have lost so much on it.To be honest i kind of prob didnt read all the stuff that came with account in first place and didnt realise we could actually lose on it.I would have been better putting it into a normal saving account.HAs this happened to anyone else.The account is with the children's mutual.

Mike-H_3

You are not alone, most children with non cash ctf's will have lost money over the last 12 months. As the previous post stated the ctf is an 18 year investment. The losses may seem painful now but we should be grateful that this happened now and that you have not lost such a large percentage after years of saving. Hopefully your ctf will recover over the many years left to run.

The decisions you face are whether to leave the money, transfer it to cash, continue to invest in the shares, or spread your risk by saving in several locations.

On a personal note I have selected one of the children’s mutual ctf for my daughter. It is run by Ian Woodford at Invesco Perpetual. He is a highly regarded fund manager at a reputable firm. However, I am not a market analyst, I am making a personal decision and I am not suggesting that you or anyone else do this. I am also saving her money in a children’s account with a building society.

I hope your children’s saving recover in time and that you create a wonderful pot of money for them. Good luck!

Chomerly

Hi all,

I was wondering what the opinion is on the best child trust fund savings accounts and which bank, building society ect. offers the least risk

I've decided to move my daughters fund from the Childrens Mutual into a more safer and secure savings account.
I have to do the same for my nephew as i have custody and now raise him as one of my one children. He has had a savings account made on his behalf and he has just over £1000 to put away.
I've had a look at the options and found that i won't be able to transfer the funds of my daughter into a savings account of my choosing like i would if i was to walk down the high street. However, i am able to do that with my nephews money and this is where i'm apprehensive.
I've looked around at the different savings accounts available and with all the troubles that the bank has, i've looked the most towards the high interest account available from the Halifax. The link is below.
http://www.moneyfacts.co.uk/money/savings/default.aspx?TabID=14

What do you guy's think would be the best for both of them?

Deita

I have been saving since 1998 for my grandaughter.
The product is a life insurance policy with bonus for 15 years.
It matures in 2013 and I have calculated it will be worth approx. £3,000.00 depending on the bonus for the next 5 yrs.

It costs me £15.00 x 12 monthly payments.

How does this compare with other savings of the same amount?
Could I have done better?

I have a new grandchild and am considering saving again for another 18 yrs.
Any advice?

Deita

sammie383

Hiya!

My dughters CTF is a savings account held with Abbey. I have never had a statement from them about this account, and would like to know whats in there now and whats happening with it.

Does anyone know if you can set up access to the account via online banking, or are the CTF's all paper only?

If they are paper only I'll have to get on the phone to them I suppose and ask for a statement. I opened this account in June 2007. I have moved house since then, but did inform them immediately.


Thanks

jessicamb

sammie383 wrote: »

Hiya!

My dughters CTF is a savings account held with Abbey. I have never had a statement from them about this account, and would like to know whats in there now and whats happening with it.

Does anyone know if you can set up access to the account via online banking, or are the CTF's all paper only?

If they are paper only I'll have to get on the phone to them I suppose and ask for a statement. I opened this account in June 2007. I have moved house since then, but did inform them immediately.


Thanks

You should get an annual statement so its probably worth contacting them to see where your statements are - it does seem like they have the wrong address for you.

Strawberry_virgin

I took out a Child Trust Fund with Halifax some 5 years ago, having received one-off £250.00 Government payment as incentive for our newly born daughter. In addition to this, I decided to put £30.00 into the fund each month via direct debit and have done so for the last 5 years. As you can see from the key facts (http://www.halifax.co.uk/investments/pdfs/ctfkfd.pdf) this money is invested into UK FTSE 100 index tracking fund. Naturally, with the recent global credit crunch the share prices have dropt by about 40% meaning my daughter’s CTF is worth less then what we invested so far. My question is really is this a good time to invest more money into the fund considering our £30 a month is buying 40% more shares then we did a year ago in hope the market will recover in the next few years at least to the same level it was last year. I understand this fund will be transferred into something called Lifestyling fund when the child reaches 13 years of age. I also understand Government will pay further £250.00 into the fund at the age of 7. Any views on this type of investment will be much appreciated.

Pisces

If you are looking for a stakeholder Child Trust Fund, engage Mutual Assurance is currently offering £50 cash back through Quidco for each CTF opened.

It also offers a £25 Boots voucher for setting up a £20 monthly direct debit online. I did this and cancelled after month one and still received the voucher.

ED0001

Hi everyone,
Sorry if my question has already been answered, i'm a newbie.

We're thinking of moving abroad (eu, france). If a family member carries on paying into the kids CTFs, can they still cash in the CTFs when they get to 18, if they haven't been living in the UK?
Thanks