Apr 2 2008
Parents around the UK are saving for children in a more ethical manner than they otherwise might through specially-tailored child trust funds (CTFs), one expert has made clear.
Miles Bingham, head of saving at Family Investments, has said that the ethical CTF products his company offers are proving "really popular" with British parents.
In fact, close to half of all the CTF accounts Family Investments opens through direct dealing with customers involve what are designed to be ethically-sound saving vehicles.
"There are a lot of parents out there who are looking to invest ethically and are coming to specialist providers such as Family Investments," said Mr Bingham.
Savings deposited in ethical CTFs are invested in stocks and shares but avoid companies that deal in potentially contentious sectors such as the trade of tobacco, prohibited pesticides or military equipment.
CTFs were introduced by the government in September 2002, from which point all newborn babies in the UK have had an account opened in their name.
