100 primary schools to benefit from £1 million investment in financial education
KickStart Money, an industry-led initiative, has been launched.
The program, backed by 16 asset management companies including a number with Elite Rated funds, will invest £1 million in financial education for primary schools.
100 schools around the country are set to benefit, meaning the program will reach almost 18,000 pupils.
Initiated by TISA (Tax Incentivised Savings Association) and the brain-child of Columbia Threadneedle and Old Mutual Global Investors, KickStart Money has now been supported by 14 other asset managers: Aberdeen Asset Management, Alliance Trust Savings, Allianz Global Investors, Aviva, AXA Investment Managers, BlackRock, BMO Global Asset Management, Henderson Global Investors, Legg Mason Gloabl Asset Management, Legal & General Investment Management, Prudential UK & Europe, Redington, Schroders and Standard Life Investments.
Research conducted by the Money Advice Service recently found that only 40% of seven to 17 year olds have received any financial education at school and less than 50% of children aged 12-17 feel confident managing money. As a result, the program will start by covering topics such as savings, budgeting and public finances.
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