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Killik provides stakeholder for children

Stockbroker Killik & Co has joined forces with Scottish Widows to provide a stakeholder plan that is designed to provide savings for children.

The stakeholder pension is aimed at affluent clients who already have a pension but who want to set aside money for their children or grandchildren. There are no age restrictions on stakeholder pensions, so investors can start up a stakeholder pension that can then be rolled into a self-invested personal pension when children grow up and want to contribute themselves.

The stakeholder pension provides access to 14 Scottish Widow funds and three external funds managed by Newton, Merrill Lynch and Schroders. The annual management charge is 0.8 per cent, even where the external funds are selected.0 The funds cover a range of regions and sectors, from UK equity through to Japanese and environmental funds.

The pension approaches the stakeholder market from a different angle to other players in that it focuses on children. However, by doing this, it is likely to appeal to a very small section of the stakeholder market.

Of the 17 funds available, eight funds have Standard & Poor&#39s star rankings. One fund property has a S&P five-star ranking. Three funds fixed interest, safety plus and UK equity index have S&P two-star rankings and four funds cash, consensus mixed, equity, and mixed have S&P one-star rankings as at April 6, 2001.

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