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:

This podcast is hosted by Sarka Halas, Content Manager, and was recorded on 30 March 2026.

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