Question about Child Trust Funds?

[Beanbagz]

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

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.

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

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 )

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

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

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.

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.