Legal & General have just launched their Child Trust Fund (CTF) in association with Mutual Assurance.
L&G are hoping that their brand will encourage those parents who are yet to invest their childs’ vouchers to finally do something with them. It looks as if the fund will be reasonably aggressive to begin with, but as the child reaches 13, the money will start to move into a more secure investment, if details from MoneyNews are anything to go by.
Unfortunately, a search for “Child Trust Fund” on the L&G website doesn’t find anything useful at the moment:
Legal & General does not currently offer a Child Trust Fund account… If you would like to find out more information about the vouchers, and their terms and conditions, visit the government’s CTF website…
L&G have one of the better fund track records. It is amazing how many parents have still not invested the money.
Yep Sean, what is it about people and free money? I guess there’s still a lot of confusion about where to put Child Trust Fund money, and also I still think there’s a level of mistrust of the financial services industry.
The vouchers would be better sitting in an account of some kind than nowhere at all, but I guess all the parents who haven’t done anything about their vouchers have a back-up, because the government will decide for them eventually.