F&C launches Junior Isa to diversify investments
F&C’s new savings account, specifically designed for children, provides investors with access to a diverse range of investment trusts and is available for the 2012-2013 tax year.
The F&C Junior Isa can be invested in from £30 per month, with a total annual investment limit of £3,600.
The firm said the new products offers flexibility, as investors can set up and manage the account online. They may amend the amount contributed at any time as well as selecting which F&C investment trusts they wish to invest in to best suit return goals and risk return profile.
At age 16, the child is able to choose which F&C trusts they invest in themselves.
The F&C Junior Isa is open to UK resident children, born before 1 September 2002 or after 2 January 2011, who did not qualify for a child trust fund. An F&C Junior Isa will be rolled into an adult Isa when the child reaches 18.
Tracy Fennell, group head of marketing at F&C, said: “With future generations faced with ever increasing financial pressures, such as higher university fees, F&C has sought to provide a straightforward way for parents and relatives, to invest in the future potential performance of our range of investment trusts and begin to save for their children’s future.
“The F&C Junior Isa ultimately allows families to take advantage of potential stock market performance over the long term, but in a flexible and tax-efficient manner.”