Child trust funds are increasingly popular with parents as they continue to place more money into the savings accounts, new figures show.
The latest Tax Incentivised Savings Association Quarterly Survey of child trust funds has found that 134,000 new savings accounts have been opened in the last three months.
It also found that the amount of money being placed in the savings accounts has increased.
Tony Vine Lott, director general of the Tax Incentivised Savings Association, said: "We have found that parents continue to recognise that child trust funds represent an, easy way to save for their children’s future.
"More parents are now increasing both lump sum and regular contributions."
He added that the fact that a physical voucher will no longer be needed to open a child trust fund should boost the uptake of the savings accounts.
Last week, Miles Bingham, head of savings and investments at Family Investments, claimed that child trust funds have not been hit by the credit crunch.
Child trust funds grow in popularity, survey shows
Child trust funds grow in popularity, survey shows
Tue, 08 Apr 2008
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