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Baille Gifford launches child savings plan

Baillie Gifford has announced the launch of a Children&#39s Savings Plan which provides a flexible way to buy and hold shares in its range of six investment trusts.

Savings start at a minimum of £30 a month or a lump sum of £250. There are no management charges or commission beyond stamp duty on share transactions and a £20 exit fee.

There are two methods to set up the plan, either as a Designated Account or a Bare Trust. The first means the account is held in an adult&#39s name and designated with a child&#39s initials and access to funds can be had at any time. The Bare Trust plans means parents only act as administrators to a formal trust with access to the money usually transferred to the child at the age of 18.

Investment trust liaison & development manager Robert O&#39Riordan says: “The Baillie Gifford children saving&#39s plan is gimmick free. It is a straightforward route for investing on behalf of children, whether your own child, a godchild, grandchild, nephew or niece.”

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