The Children's Mutual

The Children's Mutual

December 17, 2008 11:48 ET

Festive Names Brings Savings Joy

LONDON, ENGLAND--(Marketwire - Dec. 17, 2008) - As Christmas draws near, children named after the Archangel Gabriel could be celebrating more than stockings and gifts under the tree, as data from The Children's Mutual (http://www.thechildrensmutual.co.uk/) reveals they historically receive the largest lump sums of cash into their Child Trust Funds.

The leading Child Trust Fund (CTF) provider has analysed its database to look at how children with festive names benefit from gifts into their CTF's and found that Gabriels receive an annual average in lump sum payments of GBP162 - almost twice the overall account average.

Comparatively, Josephs and Marys receive an average of GBP122 and GBP135 respectively, while those named Nicholas, like Father Christmas himself, receive an average of GBP155. And how could we mention Santa without remembering his most famous steed? Rudolfs get an average CTF top up of GBP125. Unfortunately some Ebenezers seem to suffer from association with their Dickensian namesake receiving GBP5 in lump sum gifts on average.

Tony Anderson, Marketing Director at The Children's Mutual, said: "There is an increasing trend for families to save some of a child's birthday and Christmas money into their Child Trust Fund account and our customers with festive names are certainly benefiting from this! Whether your child is named Noel or Noelle, we are urging families with younger children to think about giving a gift that lasts long after the Christmas lights have been switched off."

The research found that children named Joy could have extra reason to be cheerful this Christmas having received an average of GBP71 in gifts into their CTF accounts, while Holly and Ivy really do make a fine pair having received GBP211 between them.

Tony Anderson said: "Lump sums and regular top ups can make a real difference to the potential future value of a Child Trust Fund - if all children were to receive an annual gift of GBP162 their Child Trust Funds could be worth GBP5,960 in 18 years' time."

Festive names that receive the greatest value annual gift payments into their CTF accounts, according to The Children's Mutual:


---------------------------------
Name              Amount Received
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Gabriel                    GBP162
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Nicholas                   GBP155
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Mary                       GBP135
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Rudolf                     GBP125
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Joseph                     GBP122
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Ivy                        GBP119
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Robin                      GBP118
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Holly                       GBP92
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Robyn                       GBP90
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Joy                         GBP71
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About the Children's Mutual

The Children's Mutual were named the UK's Best Child Trust Fund Provider 2008, 2007 and 2006.

The Children's Mutual, as experts in savings for children, made a significant contribution to the Government's Child Trust Fund (CTF) consultation process.

Contact Information

  • Media enquiries:
    The Children's Mutual
    Katie Donlan
    020 7781 2376
    or
    The Children's Mutual
    Joe Laing
    020 7781 2365
    Website: www.thechildrensmutual.co.uk