Institutional Investors

Education pension fund goes it alone

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After the recent market turmoil opened up access to top managers, Universities Superannuation Scheme is building up its alternatives team to invest directly with approximately 25 hedge funds

After the recent market turmoil opened up access to top managers, Universities Superannuation Scheme is building up its alternatives team to invest directly with approximately 25 hedge funds

By Niki Natarajan

Universities Superannuation Scheme (USS) is taking an innovative approach to hedge fund investing, at least compared to its UK peers, most of which use funds of funds. The corporate trustee of the second largest pension fund in the UK, which plans to put 20% of its total assets to work in alternatives, has opted for the core-satellite system of hedge fund investing that will eventually see direct allocations of