UK pension fund USS takes bold approach to hedge fund investment

Bold investor

nov-2012-uss-67

Contrarian investing and a penchant for alternatives are not words usually used to describe a pension fund allocation strategy. Yet the team in charge of alternative investments for the Universities Superannuation Scheme (USS), the second-largest pension fund in the UK, has proved itself on both accounts.

It has not followed the usual asset allocation strategies of most European pension funds. For one thing, it has been bold in its commitment to hedge funds.

When the scheme, an open, defined-benef

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