Children's Mutual Shariah/Islamic Child Trust Fund

Website: www.thechildrensmutual.co.uk
Good Points: Greater potential for longer-term growth by linking investment to company shares Investment reflects a wide range of shares to spread risk A built in feature to limit the risk of losing value should share prices fall as your child's 18th birthday approaches Tax efficient investment growth and payout at 18 Charges are capped at 1.5% of the fund's value each year Designed to be entirely in keeping with Islamic law It's good news for Muslims as TCM does not investment in companies involved with: tobacco pork liquor arms manufacturing non-Islamically structured banking; finance life insurance or interest-related activity cinema; and all media that could contain pornographic material such as broadcasting, videos; DVDs and CDs
Bad Points: Could lose money but that is the same problem with all the provider/account. It didn't appear to be as well known as the other Baby Bond products - I had to ask the adviser specifically for the Ethical Baby Bond.
First reviewed on 15 May, 2008 by Ash
Ash's Golden EggNest Rating (2 out of 5):   

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Website: www.thechildrensmutual.co.uk
Good Points: good customer service follow up £30 free mothercare vouchers detailed info pack
Bad Points: online i put my sons double barel name, but they keep using his first name in the mail they send, i have asked them to correct this but it has not happened!! apart from that NONE.
First reviewed on 19 Oct, 2008 by Raheema
This sharia baby bond enabled myself and partner to invest in companies that are 'halal'. i.e companies that do not have any association with alcohol, drugs, gambling etc. This means that the child trust fund we have is compliant with my religion and the level of customer service we received is great, i was supposed to receive a call back about a query and they called back straight away, my £30 mothercare vouchers also came straight away. They also sent a pack, although i was still confused about these URN numbers. i was under the impression i could do e transers direct to the account, but unfortunately i have to contact them to make a transfer. overall i am very impressed with the website and the shariah baby bond, a must recommended baby bond for all Muslim parents!!
Raheema's Golden EggNest Rating (5 out of 5):   

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MyEggNest's Recommendations Alternatives to CTFs - Tax-Exempt Savings Plans Did you know there are alternatives to the CTF that offer the same tax-free savings? Tax-Exempt Savings Plans (TESPs) can help you build up a lump sum for your child through small, regular payments. Your fund grows free from any income or capital gains tax, and can be used to save for children of all ages. Click here for more information about TESPs, and specific plans offered by friendly societies.

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