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Guide to saving for children

JP Morgan Fleming is publishing a guide to saving for children.

The guide comes as the firm&#39s leading fund managers are warning parents not

to wait for the Government to implement its promised child trust funds

before they start investing for their children&#39s future.

The child trust funds, which were introduced in the 2001 Labour Party

manifesto, will provide each child with an endowment at birth to be

invested until they reach the age of 18, with the amount awarded determined

by the family&#39s income.

However, some have suggested that the scheme may not get off the ground

until April 2004.

Investment trust client director Simon Crinage says: “If a parent had

invested a child trust fund allowance of £500 18 years ago in the

Fleming Claverhouse investment trust it would now be worth £5,183 –

more than enough to fund three years of university tuition fees at today&#39s

rate.”

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