Children's Mutual CTF decision 'is understandable'
www.moneynews.co.uk > Banking > Children's Mutual CTF decision 'is understandable'
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Children's Mutual CTF decision 'is understandable'
Tue 6th Jul 2010
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George Ladds, head of savings and investments research at the FIC, noted that it will be interesting to see how many other firms follow the Children's Mutual in opting to move away from CTFs.
In his opinion, the firm may have made such products a major part of its business model and their value has fallen since the government announced that the CTF will be scrapped.
He explained: "These companies may have become over reliant on one stream of business and now that CTFs have been scrapped their business model may be under pressure."
Mr Ladds suggested that this is something of a concern, especially since the performance of CTFs may suffer if too many companies withdraw from the market.
Last month, the FIC welcomed the news that the cash Isa market has been made more transparent with the introduction of faster transfers and improved statements.
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