Engage Mutual Child Trust Fund Review
|engage Mutual Assurance is a trading name of Homeowners Friendly Society Limited (HFSL), established in
1980, and its wholly-owned subsidiary engage Mutual Funds Limited (eMFL). Both are authorised and regulated by the Financial
Services Authority. HFSL offer tax-exempt savings plans for adults and children, as well as life insurance products.
engage are one of the UK’s leading Child Trust Fund providers (the name behind the CTF provided by ASDA), with
a stock market based Child Trust Fund which has one simple low charge and no hidden extra costs.
The Government Child Trust Fund voucher scheme was introduced with the aim of ensuring that all children have a financial
head start when they reach adulthood. Every child born on or after the 1st September 2002 receives a £250 Child Trust
Fund voucher from the Government. This amount rises to £500 for children from families who receive full child tax credit.
On the child's 7th birthday, the Government will make a further payment into your child's Child Trust Fund (CTF) of
£250. Again, for families in receipt of full Child Tax Credit this will be £500. This is the current proposal
and may change in the future. There is no need to apply for the Child Trust Fund voucher - entitlement for the CTF is linked
directly to your child's entitlement to child benefit.
The engage Child Trust Fund (CTF) is a Stakeholder account
that allows your child’s savings to share in the growth potential of a stock market-based investment. However, please
bear in mind that the fact that a Child Trust Fund (CTF) is Stakeholder does not mean that the investment is suitable or that
its performance is guaranteed.
one simple low annual management charge of 1.5% and this is guaranteed for the life
of the account.
the engage Child Trust Fund (CTF) invests in shares over a spread of different companies, this
helps reduce the risk but also provides the opportunity for stock market growth potential. Most experts agree that if investing
for the long term the stock market is a good place to put money. As with most stock market investments the value of the Child
Trust Fund (CTF) can fall as well as rise and your child could get back less than has been paid in.