HSBC Child Trust Fund

About HSBC Child Trust Fund

The Child Trust Fund (CTF) is designed as a long term savings account for children. Any child born on, or after, 1st September 2002, is eligible to receive a voucher worth £250 from Her Majesty's Revenue & Customs (HMRC) to start their account. The initial voucher, plus any subsequent contributions, is placed in an investment account, which belongs to the child and cannot be touched until he or she reaches 18 years of age. The basic idea is that eventually, children can begin adult life with a sum of money behind them and appreciate the benefits of saving and investment. There are essentially two types of CTF; a stakeholder and a non-stakeholder. HSBC (www.hsbc.co.uk) for example, operates a stakeholder CTF, which invests in the HSBC UK Growth and Income Fund. Details of this fund, and the key features of a CTF, can be found in a simplified prospectus and key features document, both of which can be downloaded from the HSBC website, www.hsbc.co.uk. Details of all savings accounts for children operated by HSBC are available on www.hsbc.co.uk, together with the facility to apply an account for your child, or children, online. To apply for an HSBC Child Trust Fund online you simply need to visit the website, www.hsbc.co.uk and select "Savings", "Savings for children", ""Child Trust Fund" and "Apply". Once you have submitted your application, you can send your £250 voucher to the Freepost address given on the website. Once the account is open, you and your relatives, friends, etc. can deposit up to £1,200 per year into the CTF, without you or your child having to pay Income Tax or Capital Gains Tax, for the duration of the investment.

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