Surge in child trust funds
19 August 2009
There has been an increase in the popularity of trust funds for children, according to new data.
Yorkshire Building Society has reported a 20 per cent rise in applications for cash child trust funds over the past month.
Higher education was noted in the data as one of the main motives for parents to save on behalf of a child.
The building society''s head of savings & mortgages Chris Edwards said: "Cash Child Trust Funds have always been popular because parents like their simplicity and understand the concept but we''re not surprised by our new figures which show an increase in their take-up, as recent research has found that cash Child Trust Funds have proved to offer greater returns than stakeholder versions."
The research, which was undertaken by OnePoll on behalf of Yorkshire Building Society, garnered the opinion of 3,000 respondents and found that a deposit on property and continued saving were the second and third most desirable future use of trust fund money.
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