Does anybody have one/used one for their sons, daughters, nephews, nieces etc?

I have £20,000 my mum wanted my nephew to have when he’s 25…he’s now 11 so it’ll be a while before it’s his. Not sure what to do with it. I want it safe and won’t be taking any risks with it. I don’t want to do too much managing – still 14 years to go.
Someone mentioned CTF.
Is there a go-to one that’s better than the others? Experiences good or bad welcomed.
No…I won’t be spending it on coke and hookers 😉

Actually just read that they are now defunct.
Still leaves me with problem of what to do with the money 😕

Premium bonds?

Hire an asset manager.

Sorry know nothing about CTFs but a Junior ISA would be worth thinking about – they probably have some of the best interest rates at the mo – 3.25% tax free. Check out Martin Lewis’s MoneySavingExpert.com for more information & other ideas.

He should already have a ctf so you can still put it in, they are not available now but they were when he was born and are still active.

You’ve got 14 years so I’d be putting into unit trusts, a bit of risk is worth it for that time scale – indeed my son’s money is invested with http://www.familyinvestments.co.uk/ as started a CTF with them and I top it up – Should probably move to a child ISA though. Of course you can’t just put £20k into a child ISA so maybe put it in over a few years and in a savings account in the meantime.

I would put it into a fund that spreads the money around a load of different enterprises/other funds. For years I’ve dipped in and out of Graphite Enterprise Trust (GPE) and always come out well in front, the last 3 years has seen 60% capital growth. I’d be wary of paying the management fees for trust funds and pay serious attention to their capital growth rates. Over that timescale you could make serious progress, or not, if you leave it in a bank. IANASB.