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Fidelity puts child trust fund plans on hold

Fidelity Investments says it will not enter the child trust fund market at this time despite previously saying that it would.

The firm says feedback indicates that demand for CTFs among IFAs and its inv-estor base is likely to be limited at the moment but it will continue to monitor the pro-gress of CTFs.

F&C is the only provider to have confirmed it will launch an investment trust child trust fund.

Liverpool Victoria recently announced plans to launch two child trust funds this year – a with-profits product investing in the society’s fund and a stakeholder trust fund.

Fidelity managing director Richard Wastcoat says: “Since announcing our intention to launch a CTF, we have been conducting ongoing research and analysis which has shown that the take-up from IFAs and our investor base is likely to be weaker than we first thought and, therefore, we have decided not to enter the market at this point. We are naturally disappointed. We continue to support the Gov-ernment’s efforts to encourage savings and will monitor the market and review the situation if conditions change.”

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