About Us

PiRho Investment Consulting Ltd offers bespoke investment advice to all types of institutional clients. We aim to make investment ‘as simple as possible – but not simpler’: we don’t like complexity in portfolio structures and products – especially when it is hidden – but  ‘ultra simple’ approaches, such as portfolios of equities and bonds alone, may deprive portfolios of worthwhile diversification, and fail to manage the path of returns satisfactorily. We help trustees, boards and investment committees to understand the implications of their current strategies, frame appropriate return objectives and risk constraints, and put in place strategies and products to achieve their objectives.


PiRho was founded by Phil Irvine and Nicola Ralston in September 2008. Since then PiRho has given bespoke advice on assets of over £20bn to pension funds, insurance companies, banks, endowments, investment companies and corporates. We have advised on a variety of strategies and portfolio structures, including fiduciary management, diversified growth funds, hedge funds, other absolute return mandates, liability driven investment and specialist equity portfolios, as well as providing corporate finance advice in the investment management industry.