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Question about Child Trust Funds?

(5 Posts)
Beanbagz Fri 02-Nov-12 11:55:40

I think we picked a rubbish one when DS was born as every time i get a statement it's value has gone down again sad

Question is - can i move it? In the same was i can a Cash ISA? And where can i find details of the better performing ones?

MIL is very kindly giving us some money but DH and i would like to put it aside for our DCs.

DD was born pre CTF so i can take out a Child ISA for her but as far as i understand it DS is stuck with his CTF.

HappyAsASandboy Fri 02-Nov-12 11:59:24

You are right that your DS is stuck with his CTF and can't have an ISA sad and angry

You can move them, but I don't know how you find out which ones are performing better than others (am a bit slow off the mark and just keep stuffing cash into ours and not making it do anything useful sad)

vodkaanddietirnbru Fri 02-Nov-12 12:01:22

yes you can move it to whatever provider you want to.

https://www.gov.uk/child-trust-funds/managing-the-account

Beanbagz Mon 05-Nov-12 14:00:37

Thanks for both your replies.

I had another thought last night - Premium Bonds!

I know it's not much of an investment but it's really easy for MIL to buy these for our DCs and it might be a fun way to invest.

CogitoErgoSparklers Mon 05-Nov-12 15:07:24

If you think your CTF returns are crap, Premium Bonds are rubbish. They are fixed to pay out only 1.5% average at the moment which means that, for every £1000 you have invested, you will only get back an average of £15/year at best. In reality you might get no return at all for years on end. Far better to put it in a high-paying savings account, registering the child as a non tax-payer and taking a guaranteed interest rate.

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