Nutmeg partners with Great Ormond Street Hospital to launch junior ISA
The product requires a minimum investment of £100 and funds can be added either monthly, as a one-off lump sum, or a combination of both.
Parents and guardians can choose from one of three portfolios: fixed allocation, which is run without intervention; fully managed, which is proactively managed by the Nutmeg investment team; or socially responsible for customers who want to invest in line with their values.
Fees for each portfolio vary but start from 0.45% up to 0.75% .
Money in a junior ISA cannot be accessed until the child turns 18 and the allowance for the current tax year is £4,368.
For every junior ISA opened or transferred, Nutmeg will donate £25 to Great Ormond Street Hospital Children’s Charity (GOSH Charity).
In addition, customers who choose to make a donation to GOSH Charity through Nutmeg, will have their donation matched by the company up to the value of £100.
Money raised could help GOSH Charity to fund pioneering medical research, state of the art medical equipment, support services such as the hospital’s dedicated play team or parent accommodation, and the rebuilding and refurbishment of the hospital.
Neil Alexander, chief executive officer, Nutmeg, said: “As a parent myself, I know you hope to never need the people, services and research carried out by the fantastic team at Great Ormond Street Hospital. However, some families will. We’re incredibly proud to be supporting the work of Great Ormond Street Hospital Children’s Charity as they help to ensure all children and young people have the best chance to fulfil their potential.”
Amit Aggarwal, director of corporate partnerships at GOSH Charity, said: “We’re really excited to be launching a partnership with Nutmeg, which has huge potential to raise vital funds and make a real difference to seriously ill children and young people who travel to Great Ormond Street Hospital for specialist treatment. I’d like to thank Nutmeg for choosing to make a difference by supporting GOSH Charity.”
Parents and guardians do not need to be existing Nutmeg customers to open a junior ISA.