Scottish Widows Master Trust has selected Isio as its investment adviser.
It said that through a competitive process, Isio will advise on default design, asset allocation, manager selection and risk management to elevate the master trust’s investment proposition for its defined contribution (DC) member base.
Scottish Widows added that Isio was chosen for the quality of its DC offering, as well as its deep expertise and credentials in defined benefit (DB) and public sector investment advisory, which will be leveraged to enable the master trust to benefit from innovation from across the pensions landscape.
As part of its appointment, Isio will advise the trustees on the evolution of their investment proposition, including expansion into newer sources of return, such as private markets.
The Isio team will be led by partner David O’Hara, who brings extensive experience of sophisticated investment solutions across the pension scheme universe.
Andrew Warwick-Thompson, chair of the Scottish Widows Master Trust, said: “We were impressed by the breadth and quality of Isio’s investment advisory expertise, particularly in alternative asset classes. We are excited to be working with them alongside our partners to develop our investment proposition for the benefit of our members.”
He said it is vital that Scottish Widows is connected to the best ideas and latest thinking, adding: “We are confident that this appointment puts us in an ideal position to benefit from world class institutional investment expertise.”
Sharon Bellingham, Scottish Widows Master Trust lead, added that driving investment innovation enables Scottish Widows to evolve at a pace to provide investment solutions that address its members’ current and future needs.
She added: “Our focus is on helping them to secure the best possible retirement outcomes at the same time as we deliver on our Mansion House commitments.”
Isio’s O’Hara said the consultancy will lean on its “rich heritage” in both DB and DC pensions to support a proposition that reflects and achieves the real-life objectives of the trust’s members, against a complex and evolving investment backdrop.