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Guide to saving for children

Edinburgh Fund Managers is publishing an updated version of its consumer guide to saving for children.

EFM says it updated the guide after a Mori poll commissioned by the firm found almost three-quarters of parents and grandparents in the UK are saving for their children&#39s future, with almost half aiming to fund school or university costs.

The free guide includes a questionnaire to help the reader work out what kind of saver they are and an outline of the different investment options on the market to suit their needs.

The guide also includes details on the various shortand long-term investments available to children as well as looking at how best to meet the costs of education and the tax issues involved in giving cash gifts and inheritances.

Marketing manager Lesley Drummond says: “Although past performance is never a guide to the future, an investment of just £40 a month over the past 18 years in the Dunedin income growth investment trust would have shown a return of approximately £21,977, enough to cover the entire cost of a university education.”

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