While investors may have made the most of the “Biden bounce”, the rapid “V-shaped” economic recovery which has already been priced into many economic models, still seems some way off.
We held our annual Institutions’ Meeting on Thursday 10 December 2020. The ‘virtual’ meeting provided us with an opportunity to update our sponsoring employers on how we’ve performed, the work we are doing to improve the services we provide, and our perspective on how we can deliver on our mission: to work with Higher Education employers to build a secure financial future for our members and their families.
Simon Pilcher, CEO of USS Investment Management, takes a look back on the year and a look forward to 2021.
According to recent data, the UK is languishing at number 47 in the global speed league for broadband. It matters for many reasons – education, leisure and work to name but a few and for USS presents an excellent investment opportunity.
As we look forward, the final quarter of 2020 looks to be one of the most challenging in recent history. With the looming US election poised to be highly contested, a potential cliff-hanger Brexit deadline and a global pandemic still unfolding, calling the future direction of the global economy and financial markets is at its most difficult.
In September I took over as Chair of USS during an extraordinary time for the scheme. Not only in the midst of a valuation, but also sharply aware of the unprecedented pressure on Higher Education from the pandemic. It was certainly not an ideal backdrop.
This paper sets out the USS trustee’s view on the proposed defined benefit Code of Practice, as set out in the Regulator’s consultation document dated March 2020.
Since the dramatic market falls in March as a result of Covid-19, risk assets such as equities have held up remarkably well despite continued uncertainty over the economic impact of the virus.
USS has made its first investment in shared ownership housing. Ben Levenstein, Head of Private Credit, USS Investment Management, explains why.