Family Investments passes 400,000TH CTF account milestone

Family Investments has attracted its 400,000th Child Trust Fund (CTF) customer, making it the most successful provider in the UK.

Family continues to be a favourite with parents across the country that are looking to invest in the nation’s favourite CTF account.

John Reeve, CEO, Family Investments, said, “Our distribution reach, the quality of service and our position as a leading authority on CTFs means that we continue to attract more parents than any other provider. As the market leader, we will continue to focus on delivering service excellence to parents.”

Family has a 17% share of banked CTF vouchers to date and is now responsible for £193 million in CTF funds, managed with the help of respected fund managers, New Star. Towards the end of last year, Family extended the choice of accounts open to parents with the launch of its new ethical CTF. Family are currently processing on average 1,800 new CTF applications every week and are on track to build on their success in the coming year.

Those parents who invested their child's voucher with Family Investments soon after receiving it in April 2005 and have topped it up regularly with £20 per month, now have a CTF worth £813. This compares favourably with those whose vouchers were left to be allocated by the Revenue, which are now worth only £302.

Parents choosing a stakeholder account with Family, who then top up their initial £250 voucher with the average £20 per month top up, could create a nest egg worth £8,096 for their child at 18 years of age.

John Reeve, Chief Executive, Family Investments said: “As higher education becomes increasingly expensive and the first rung of the property ladder seems higher every year, well-invested CTFs could give our children a well-needed head-start to their adult lives. Our aim at Family is to make the building of that CTF nest egg as easy and straightforward as possible.”