sharefund for children question.

Hi All,

Disclaimer: I am not looking for financial advice.

Just wondering if anyone out there has any experience or knowledge on shares for children.

Background:
Grandpa wants to gift some money to invest for a new child. Say around 1K. Standard bank deposit will return poorly.
So was thinking about a couple of blue chips paying dividends, and reinvesting them, might do better over say 20 years.
Say for instance BHP and "a" bank.

Question:
Could the shares be held by the child?

Or could they be held by me (obviously CGT would be small over that period of time) and sold and gifted at 21yrs?

Or does anyone else have any similar experience?

Thanks