The trustee of the Scottish Widows Master Trust has appointed Isio as its investment adviser, following a competitive process.

As part of the appointment, Isio will advise on default design, asset allocation, manager selection and risk management in an effort to elevate the master trust’s investment proposition for its defined contribution (DC) member base.

The trustee said that it chose Isio for the quality of its DC offering, as well as its expertise in defined benefit (DB) and public sector investment advisory, which are expected to allow the master trust to benefit from innovation across the pensions landscape.

The Isio team, led by partner David O’Hara, will also advise the trustees on the evolution of their investment proposition, including expansion into newer sources of return, such as private markets.

Commenting on the appointment, Scottish Widows Master Trust chair, Andrew Warwick-Thompson, 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. It is vital that we are connected to the best ideas and latest thinking, and we are confident that this appointment puts us in an ideal position to benefit from world class institutional investment expertise.”

O’Hara added: “I am looking forward to working closely with the trustees on an investment strategy which will secure the position of the Scottish Widows Master Trust as one of the very best DC investment solutions in the industry.

“We will lean on our 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.”

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