For Immediate Release: Tuesday 28 October 2003

IMA WELCOMES GOVERNMENT'S CHILD TRUST FUND ANNOUNCEMENT

The Investment Management Association (IMA) welcomed the Government’s announcement today about the next steps in the introduction of the Child Trust Fund.

The fund will encourage the next generation to save for their future and will help develop a greater understanding of investment products, including the importance of diversification, asset allocation and the associated risks and rewards.

Richard Saunders, Chief Executive of the IMA said

“The need for a new financial initiative, coupled with steps to improve financial literacy, has never been more necessary. As the role of personal provision in long term saving becomes more significant, so the need for financial empowerment becomes more urgent.  The Child Trust Fund will have an important role to play.”

The IMA publishes a range of consumer literature to help savers understand unit trust and OEIC investment including “Saving for Children – A guide to investing on behalf of children through investment funds”. The Association also produces a basic guide “Introducing Investment” which helps individuals to make informed investment choices and manage their finances better. Copies can be obtained free by calling the Unit Trust Information Service (UTIS) on 020 8207 1361 or by visiting the IMA website at www.investmentuk.org

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For further information, please contact:  

65 Kingsway London WC2B 6TD 

Tel: +44 (0) 20 7831 0898 Fax:+44 (0) 20 7831 9975 

www.investmentuk.org 

Investment Management Association is a company limited by guarantee registered in England and Wales Registered number 4343737.  Registered office as above.