CTFs see a rise in investment from parents

Statistics released by the Building Societies Association (BSA) show 31,000 Child Trust Fund (CTF) accounts were opened in September by providers offering both cash and stakeholder options. Figures also reveal where a choice was offered, 73% of parents preferred to put the voucher into a cash-based option, as the total net deposits in cash-based CTFs reached £10.9m over the last month. The BSA notes that although the total number of accounts opened in September by the cash providers is similar to that of August, the total deposited was over £3m higher, demonstrating parents are now begi...