It Asda be George

MSE_Martin

If your kid's named George or Georgina and was born after 1st September 2002 there's a £50 bonus available if you open an ASDA Child Trust Fund for them in August. Take your kid's birth certificate to ASDA to claim the £50 in George vouchers.

Whilst making a decision on such an incentive isn't always a good idea the £50 here is a massive bonus. It's equivalent to an uplift of 20% on the investment plan, well worth considering. Though for non-George parents don't let this fool you.

Below is Asda's press release - but take it with a pinch of salt - this is a 'sell document' remember.


BY GEORGE! - THERE ASDA BE A BABY BONUS

Little Baby Georges (and Georginas) pocket £50 with an ASDA Child Trust Fund

ASDA financial services is offering all babies born after 1st September 2002 named George or Georgina an extra special £50 bonus if they open an ASDA Child Trust Fund in August. All Parents who bring along a birth certificate proving George (or Georgina's) name to their nearest ASDA, can claim £50 in George vouchers when they open an ASDA Child Trust Fund.

The supermarket has launched the new offer to encourage parents to invest their £250 voucher from the Government as to date only 499,000 of an estimated 1.7 million vouchers have been invested by parents¹. ASDA's 'George' offer will run for one month only, starting on the 1st August and will be available in all 280 stores across the country.

Gev Lynott, Director of ASDA Financial Services said, "With well over a million vouchers across the country yet to be redeemed, we hope our offer will encourage parents to take action. The ASDA Child Trust Fund is an easy and accessible way for parents to save on a regular basis for their children's future, providing them with a fantastic financial start in the world. We're already offering anyone who opens an ASDA Child Trust Fund a £25 George voucher, but if you're a George or a Georgina the benefits are now even greater!"

The ASDA Child Trust Fund is provided by Engage Mutual Assurance and was the ninth of ten financial services products to be launched by ASDA. Customers can open their Child Trust Fund with ASDA at www.asda.com and going to the financial service link or by calling ASDA customer services on 0500 100055 or picking up a leaflet in-store.

robstoff

Good Idea, but I personally think it's a bit unfair that if you have a child named George then they can benefit, when others can't get the extra £50. Probably me just being silly though!!!

ReportInvestor

It's an unbeatable offer if your child has the right name :j . Who wouldn't want to grab their kid a 20% head start in the playground bragging investment stakes .

But it's not an account to which I would want to add further sums as a parent.

The ASDA Engage CTF invests in the Homeowners Investment Growth Fund whose performance (0.5% growth) has been slightly worse than the average tracker (4.3% growth) over the last seven years.

See the 5 year Performance - 8.2% loss

FWIW I totally agree with Robstoff about the fairness issue.

zippybungle

shame I didn't call my Kids George! Wonder what bonus you'd get if you called your kid 'Asda' lol

poorcat

I've got a George!!! but he's already got a CTF... doh!

moomintroll_3

Wonder if a middle name counts? My son (6 weeks old) has George has his middle name...

Might be worth asking if I get a CTF voucher in time!

G

FranDan

Shame... called my little girl Georgia... guess that means she misses out too. Wonder if they'll consider it??

don.westcoast

robstoff wrote:

Good Idea, but I personally think it's a bit unfair that if you have a child named George then they can benefit, when others can't get the extra £50. Probably me just being silly though!!!

I think they deserve it if their name is George. One good point your mum wouldn't have to sew labels in your clothes!

AP

This is just like any child with the name Harry Potter can get the latest book for free by taking the birth certificate and photo ID to any W H Smith store - just another marketing ploy and I wouldn't read too much into it.