405: Do charities suffer from money illusion?

Money illusion is one of the most common behavioural biases and with nearly £30 billion held in cash, are UK charities assuming that the most cautious investment is also the safest choice? L&G’s Nancy Kilpatrick, Head of Charities and Andrzej Pioch, Fund Manager and the Head of Risk Targeted Funds explore the risks that may be hiding in plain sight: the risk of holding too much cash, what that actually costs charities and how Trustees could be thinking about their investments. They discuss: The scale and risks of the cash challenge Practical first steps that Trustees can take to put their reserves to work How recent volatility and macro events have highlighted potential concentration risk This podcast is hosted by Sarka Halas, Content Manager, and was recorded on 30 March 2026. For professional investors only. Capital at risk. Risk management cannot fully eliminate the risk of investment loss. It should be noted that diversification is no guarantee against a loss in a declining market. For illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an L&G portfolio. The above information does not constitute a recommendation to buy or sell any security

You can listen to 405: Do charities suffer from money illusion? online on Radio and Podcast. Open the player on this page to stream the available audio.

405: Do charities suffer from money illusion? is an episode from LGIM Talks.

This episode is 18:25 long.

This episode was published on May 14, 2026.

Yes. Use the heart button on the episode page to add it to your favorite episodes list.

Yes. This page shows related episodes from LGIM Talks when more episodes are available from the podcast feed.