If you don’t want your child’s trust fund to be invested in companies that make weapons or alcohol, you can avoid them.

Only a handful of child trust fund providers offer an ethical option, but those that do say it’s very popular. One reason why more companies don’t have an ethical child trust fund is that it tends to be more expensive to manage than an account that can invest in any company it wants to. If you want to go down the ethical route, your choice is very limited if you want a cash account, although there are more options if you’re happy to invest your child’s money in shares.

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It’s not often you get free money from the government – but choosing a child trust fund can be a challenge

The idea behind child trust funds is that they help parents to save for their children and teach children about managing money. The government will give you a voucher worth £250 (or £500 if you receive the maximum amount of child tax credits) to give your child’s trust fund a kick start and all children born on or after September 1st 2002 qualify for this free money.

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