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Children's Mutual finds Brits favour Katie over Catherine

21st June 2011 Print

The Children’s Mutual has identified that the British public favour the name Katie over Catherine, but William over Wills.

According to research by The Children’s Mutual, a leading Child Trust Fund (CTF) provider, the British public favour the name Katie over Catherine, but William over Wills.

As the country welcomes Catherine, Duchess of Cornwall into their hearts The Children’s Mutual has reviewed its 900,000 Child Trust Fund accounts to see just how Kate compares to Catherine and if Will or Bill comes out on top in the average British home.

In the case of infant school boys, tradition is king with William far outstripping any of its abbreviations as the given name for a son and heir with 88% of parents choosing to use the name in full. Billy came a distant second with only 9% of usage and Will and Bill less popular still (3% and less than 1% respectively).

Playground Princesses-in-waiting would seem to be a more casual lot with Katie outranking all others as the given name in 60% of cases. Kate and Katherine are next in favour with 12% and 10% usage each. Whilst Catherine (7%), Katy (6%) and Kathryn (4%) sit further down the list.

When it comes to their financial footings the nation’s Williams and Catherines are very evenly matched with the boys receiving an average monthly saving from friends and family of £28.50 whilst the girls are given £26 a month.

Andy Brown, Head of Sale & Marketing at The Children’s Mutual said: ”No doubt most of our children have nicknames and abbreviations that are more commonly used on a day-to-day basis but it is interesting that British parents see their little boys given name in quite formal terms whilst they are inclined to use a more familiar version of a name for their little girls.

What is more important in the long term is that all our children be treated equally in terms of saving for their futures. Child Trust Fund children and their families are fortunate to have this resource available to them and I am delighted that so many are embracing it even in these difficult economic times. We can’t all give our children the trapping of Royalty but even £26 or £28 a month put aside on a regular basis over a child’s life could give them £10,000* as they reach adulthood.”

Launched in 2005, Child Trust Funds were designed to provide a tax efficient, long term savings vehicle for all eligible children. Eligible newborn children (born on or after 1 September 2002) received a Child Trust Fund voucher from the government when their parents registered for Child Benefit. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year. The changes to the CTF mean that for existing customers the accounts remain as before, with an annual tax-efficient top up allowance of £1,200, albeit without the Government's additional contributions.

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* £10,000  Based on contributions of £26 per month. This future projected value is based on money being invested every month, together with the Government’s initial £250 voucher, for 18 years in a Stakeholder Child Trust Fund Account. Assuming an investment return of 7% a year, and charges of 1.5% of the CTF account value each year. The projected values aren’t guaranteed because the value of shares goes up and down. So the final payout could be more or less than this.  This figure rises to £10,900 if an account receives £28.50 per month.