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HSBC launches child trust fund

HSBC launches a child trust fund this week in response to the Government’s initiative to give children a financial head-start. HSBC’s fund will be an equities-based stakeholder account which will invest in the bank’s UK growth and income fund for the first 13 years of a child’s life. For the final five years of the trust fund, HSBC will move the funds to lower risk investments such as deposits. The maximum annual contribution is 1,200, the minimum is 10.

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