Savings for Babies

macca · 16 August 2004 at 2:00PM

Hi all
Just had another baby and want to put his child benefit plus a few more quid regularly into savings for when he is 18. At the moment for son number 1 I have a Scarborough fixed bond account thing but with me not needing the money for another 18 years I suppose I should look into unit trusts or something.
I know this is something people can't accurately advise on on here ( I would assume) but is there anywhere I can start doing some research?
Many thanks
Macca

cloud_dog · 16 August 2004 at 11:18PM

Macca

Am in a similar position (4 month old daughter). I have been a regular monthly invester in different UT / IT / OIEC (don't have big bucks) over the years.

I invest via BestInvest and they provide a rating against the funds (also lower investment charges). I identify hightly rated funds in a particular area / theme that I want to invest in. I also tend to go with highly rated managers and tend to follow them if they move to another company / fund (wait a while if it is higher risk).

Having just checked Best Invest ratings are only available to clients, but there are other sources of fund ratings. Some websites worth visitng would be:

* Standards & Poors
* Citywire
* MorningStar

isasmurf · 17 August 2004 at 12:10AM

If you can wait a few months, I'm sure the market could be very competitive come April next year. The reason I say this, in case you're not aware, is because it's when the long awaited Child Trust Fund starts.

Click here for more info.

Personally I'd stick it in a high interest savings account for now and see what happens next April.

Savings for Babies

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