Is natural income outdated, risky… or the missing link in sustainable retirement planning?
In this episode of Money Wise UK, George welcomes back David Jane of Premier Miton to revisit one of our most debated topics: natural income. Together, they unpack whether it still has a role in modern portfolios, how it compares to total return strategies, and why client psychology plays such a big part in income decisions.

From sequencing risk to safe withdrawal rates, and from dividends to bonds, David shares 38 years of experience in investment management—along with practical insights on building retirement income strategies that balance growth, resilience, and peace of mind.

If you’re a financial adviser, investor, or simply curious about the future of retirement income, this conversation will challenge assumptions and offer a fresh perspective.

Book: The Misbehavior of Markets: A Fractal View of Financial Turbulence

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Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

George, Money Wise UK, chats with Pietro Nicholls, co-manager of the VT RM Alternative Income Fund, about what “alternatives” really are, liquidity myths, the rate/inflation cycle, and why governance matters in investment trusts. They cover diversification, where real assets fit vs the 60/40, activism vs engagement (incl. Gore Street), and how VT RM balances income with capital preservation.

Follow, share, comment, rate and subscribe to Money Wise UK for thoughtful, independent conversations on the future of investing.

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

Chapter markers

• 00:03 Intro & guest background

• 01:13 Early influences & learning habits

• 09:12 What are “alternatives”?

• 12:19 Liquidity myths & real-world tests

• 15:49 Diversification through cycles

• 19:35 Rates, inflation & positioning

• 23:28 Investment trusts: safety, governance & discounts

• 27:36 Fees & the OCF confusion

• 31:20 Performance, cycles & today’s opportunity

• 33:17 Are alts too complex?

• 36:08 Engagement vs “activism” (Gore Street)

• 42:28 VTRM’s mission & portfolio mix

• 49:06 ESG & transparency

• 54:45 Best advice & final takeaway

China is often seen as either an unstoppable superpower or a risky bet – but what’s the real story? In this episode of the Money Wise UK Podcast, George sits down with Megan Ie, Senior Equity Analyst at GIB Asset Management, to unpack the nuances of investing in China. From common prosperity to geopolitical tensions, policy shifts, and overlooked growth opportunities, Megan brings fresh insights into one of the most complex and misunderstood markets in the world. A must-listen for curious investors.

Book: Bacharuddin Jusuf Habibie

Follow, share, comment, rate and subscribe to Money Wise UK for thoughtful, independent conversations on the future of investing.

Learn more: GIB Asset Management

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.