Fund Withdraws From Baby Bonds
Fidelity Investments announces withdrawal from the Baby Bond project
17th December 2004
Fidelity Investments, one of the country's leading fund managers has pulled out of the forthcoming baby bonds scheme, due to launch in April.
The Child Trust Fund Scheme, to give the bonds their official name, will provide an investment vehicle for government issued vouvhers for every baby born since September 2002, but relies on finance companies setting up the relevant accounts.
Despite Fidelity's withdrawal, government sources remain confident that the program will be a success, and a list of participating accounts will be published in January.
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