There probably weren’t many letters sent to the North Pole this Christmas that started: “Dear Santa, for Christmas please may I have a diversified portfolio of equity stocks.”

But perhaps Santa’s elves should become investment managers as the gift of equities is the one present that could make the biggest difference to a child’s future, according to Christopher Pyrkosz, head of investment trusts at Martin Currie.

He says that parents are forecast to spend approximately £259 on presents for their children.

“If a similar amount - £20 per month - was...