When Prince Harry spoke to the world's press on Monday afternoon, he could not hide his happiness at becoming a father for the first time. Beaming from ear to ear, he described his elation... before his brother then teased him about becoming part of the 'sleep deprivation society that is parenting'.
Welcoming a new member into any family is a life-changing event and the 'baby' soon becomes the centre of almost every conversation.
What is not talked about as often, however, are the financial implications of raising a child: from nappies and clothes, to school trips, university fees and house deposits.
While the royal family are fortunate that they don't have to worry about money, the rest of us have to think about we can build a nest egg for our little prince or princess. To give you some ideas, we asked Chelsea's employees where they are investing for their children:
Both of my children's Junior ISAs are invested 50:50 in First State Greater China Growth and Goldman Sachs India Equity Portfolio., both of which are on the Chelsea Selection. I really like emerging markets for long-term investments, so it makes sense to invest in them for my kids. These two funds are among the very best in their peer groups in my view.
I created my own mini portfolio for Lucia, picking AXA Framlington UK Smaller Companies. FundSmith Equity, JOHCM Asia ex Japan Small and Mid Cap, Lazard Emerging Markets and Polar Capital Biotech – all taken from the Chelsea Selection or Core Selection. Since we launched the VT Chelsea Managed fund range, my monthly savings for both Lucia and my newborn twins have been directed into the Aggressive Growth portfolio.
As I'm now one of the advisors to the VT Chelsea Managed funds I've kept things simple and put my children's Junior ISAs into the Aggressive Growth fund like Juliet. I spend most of the week thinking about how best to position the funds and researching new opportunities, so I like to put my money where my mouth is and have as much faith in our decision-making as our clients do.
I picked Rathbone Global Opportunities for my children's Junior ISAs. It's been on the Chelsea Core Selection since I started working here just over seven years ago and I've been lucky enough to meet the fund manager and interview him on a number of occasions. I like his investment style and his attitude, and I know he's invested his own children's money in the fund too!
Past performance is not a reliable guide to future returns. You may not get back the amount originally invested, and tax rules can change over time. The views expressed are personal ones of Chelsea's employees and do not constitute financial advice.