Some UK defined benefit (DB) pension schemes have been experiencing liquidity issues linked to Liability-Driven Investment (LDI) strategies and recent unprecedented changes in the value of index-linked UK government bonds.
From a funding perspective, interest rate rises are having a positive impact – but the volatility in the UK market clearly driven by recent government announcements makes it very difficult to establish a long-term view.
Bill Galvin has informed the USS Board of his decision to stand down as the scheme’s Group Chief Executive.
USS has retained its position as a signatory to the Financial Reporting Council’s (FRC) Stewardship Code.
USS completes £300m ground rent agreement to acquire Butlin’s real estate sites at Skegness, Minehead and Bognor Regis.
Universities Superannuation Scheme has published its annual Report and Accounts, covering the financial year to 31 March 2022. At 31 March 2022, total assets under management were £90.8bn (2021: £82.2bn). Its defined benefit (DB) fund stood at £88.9bn (2021: £80.6bn), while its defined contribution (DC) assets totalled £1.9bn (2021: £1.6bn).
USS, the UK’s largest private pension scheme by way of assets, has launched its first mandate investing in asset-backed securities (ABS). Likely to exceed £1bn over the next couple of years, USS’s first ABS mandate will be focused on investment grade, publicly listed securities.
USS, the UK’s largest private pension scheme by way of assets, has today published an in-depth report on its approach to Responsible Investment – evidencing its commitment to stewardship, sustainability and good corporate governance.
A hearing was held at the High Court in April to establish whether four claims, brought by two members of USS, against directors of the scheme’s trustee company should proceed to trial. After considering the claim mechanism used and the substance of the claims, the High Court has found that the case should not proceed.
Read how we implement our commitments to stewardship and summarise our responsible investment activities and outcomes across all our asset classes.
