CTF take up lowest yet - BSA

The BSA figures only represent those providers offering the cash CTF option but they reveal a worrying pattern as each month now appears to show take up of the government backed funds steadily falling since their introduction last year. Around 69% of funds opened last month were the cash option where a choice was offered, the BSA says, meanwhile net receipts into cash CTFs in July were £5.3m. To date, 418,000 cash CTF accounts have been opened, with £153m in total balances. Adrian Coles, director-general of the BSA says: "The last few months have seen the number of accounts opened by pa...