Child Trust Fund

aliwood1604

My sons CTF has lost 30% of its value since last April and I would like to transfer it out. However, he is 16 and opened a HTB isa last year just before they were withdrawn and has been paying into it from his part time job this year. He can’t have a cash isa as well so do I just have to leave the CTF where it is and watch it drop? 

xylophone

The CTF is not an ISA.

The CTF can be transferred to another CTF or to a JISA.

A young person can have both  adult ISA and a CTF/JISA.

https://www.moneysavingexpert.com/savings/junior-isa/

ElephantBoy57

aliwood1604 said:

My sons CTF has lost 30% of its value since last April and I would like to transfer it out. However, he is 16 and opened a HTB isa last year just before they were withdrawn and has been paying into it from his part time job this year. He can’t have a cash isa as well so do I just have to leave the CTF where it is and watch it drop? 

The stock markets around the world have already dropped, hopefully, there will be a slow climb back now. So better to leave the CTF where it is.

JF2019

ElephantBoy57 said:

aliwood1604 said:

My sons CTF has lost 30% of its value since last April and I would like to transfer it out. However, he is 16 and opened a HTB isa last year just before they were withdrawn and has been paying into it from his part time job this year. He can’t have a cash isa as well so do I just have to leave the CTF where it is and watch it drop? 

The stock markets around the world have already dropped, hopefully, there will be a slow climb back now. So better to leave the CTF where it is.

I agree, My DD's reduced by about 3k at the start of lockdown and now the reduction is about £1,300. Still very much in profit based on total amounts paid in versus current value. Same thing happened after the financial crash and it bounced back really well.