April figures for cash CTFs pass £11m

While the figures only apply to cash CTFs and not the whole of the CTF market, the BSA reveals an additional 18,000 accounts were opened last month by providers who offer both cash and stakeholder options. Where a choice was offered between a cash and a stakeholder CTF, 78% of parents opted for the cash version, with net receipts into cash CTFs totalling £11.6m in April. According to the BSA, which receives its statistics from providers of cash CTFs, to date 388,000 cash accounts have been opened, with £137m in total balances, while in the last year 552,000 CTF accounts have been open...