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UK's USS ready to go direct

March 06, 2009  

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Universities Superannuation Scheme (USS), the second-largest pension fund in the UK, will go direct rather than taking the fund of funds route as it looks to invest over $1.41 billion in hedge funds - believing that top institutional investors are now ahead of funds of funds in terms of being able to pick the best manager names.

Mike Powell, head of alternatives at USS, said: "Given...

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