Legal & General supports Child Trust Fund Week

Legal & General will be supporting Child Trust Fund Week (15 to 20 January 2007) with over 440 advisers across the UK.

The company offers a Child Trust Fund (CTF) in partnership with engage Mutual Assurance, giving parents (with children born on or after 1 September 2002) the chance to take their first step towards life cycle savings for their child.

The CTF market is estimated to be worth £1.8 billion by 2009/10 based solely on the value of the minimum £250 voucher that all will receive from the Government. Latest figures from Her Majesty’s Revenue and Customs (HMRC) show that 71 per cent of CTF vouchers have been redeemed since the scheme was launched in 2005.

Claire Stracey, Director Customer Marketing said “We believe that parents, who may be considering how to invest a voucher for their child, would be reassured by the Legal & General brand, which offers savers value for money investment. We hope this will encourage parents, who may be holding onto their voucher while considering where to invest, to choose the Legal & General Child trust Fund.

Legal & General has built up a strong reputation and brand as a leading provider of index-tracking trusts and currently manages over £146bn of Index funds on behalf of private and institutional investors across the UK. ”

Legal & General Child Trust Fund:

440 advisers across the UK will be selling the Legal & General CTF during Child Trust Fund Week

The CTF is an equity product that invests in the engage Investment Growth Fund

Once the child reaches age 13, the money is gradually moved into a lower risk fund, the engage High Income Fund. At age 17 100% of the money is invested in the engage High Income Fund.

Legal & General CTF customers also benefit from a low contribution rate of £5 – which is making regular saving more accessible for families, particularly those with more than one child.