Investment Expert and Accidental Trustee

In this episode, we explore a period of major change in workplace pension investing — from evolving default funds and increasing private market exposure, to Value for Money reforms and new retirement investment solutions.

Robert Cochran and Sharon Bellingham are joined by Gerald Wellesley, Investment Chair of the Scottish Widows Master Trust. With over 35 years of investment experience and two decades as a scheme Trustee, Gerald shares a thoughtful and experienced perspective on navigating today’s volatile investment environment.

The conversation covers private markets, the role of a strong liquidity ladder, and a compelling real‑world example of going against the consensus to achieve outperformance during market disruption. Gerald also discusses the potential implications of proposed Value for Money changes and how they could affect investment flexibility in the future.

A must‑listen for anyone involved in workplace savings, pension scheme governance, or long‑term investment strategy.