Child Trust Fund: 'My £250 investment is now worth only £12'

Published On Oct 26, 2024, 7:00 PM

Max Prince received only £12.39 from a Child Trust Fund that his parents invested in when he was born, despite expectations of having around £300. The significant loss was due to a £30 annual fee charged by the fund manager, Columbia Threadneedle, which the family was unaware of due to missed communication. This raises concerns about similar cases among about six million children with such accounts, many of which are reportedly unclaimed. Investment expert Gavin Oldham suggests that companies could have offered better service and that Max's case could lead to broader awareness and action regarding underperforming Child Trust Funds.