We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Child trust funds
rustyhead16
Posts: 1 Newbie
I pay £300 per year into Child trust funds with engage mutual assurance for my 2 children. They both have the same investment fund - UK Equity Index Exempt Fund. Yesterday I received amended annual statements there had been an error in statements issued last month. This prompted me to review the previous statements for each account.
I have paid approximately £3,700 into my daughters fund since 2001, the total value is now £3,654. I have paid approximately £2475 into my son's fund since 2003, the total value is now £2,954.
Each year more units were allocated to my son's fund. The separate direct debits are taken out around the 8th and 10th of each month. (I don't know which is which!)
When I queried with engage mutual why more units were allocated to my son's fund I got a standard reply stating that units are allocated on the day the direct debit is paid.
Can anybody understand why for the past 8 years there is a difference, and is there a preferable date in the month to pay such direct debits?
I have paid approximately £3,700 into my daughters fund since 2001, the total value is now £3,654. I have paid approximately £2475 into my son's fund since 2003, the total value is now £2,954.
Each year more units were allocated to my son's fund. The separate direct debits are taken out around the 8th and 10th of each month. (I don't know which is which!)
When I queried with engage mutual why more units were allocated to my son's fund I got a standard reply stating that units are allocated on the day the direct debit is paid.
Can anybody understand why for the past 8 years there is a difference, and is there a preferable date in the month to pay such direct debits?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards