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.
As the world turns from shut down to recovery, Mirko Cardinale, Head of Investment Strategy & Advice at USS Investment Management, thinks about what the future might look like.
I joined USS Investment Management at the start of the year from BlackRock, in order to build on some of the great work that had already been done in our fixed income business area. This part of our portfolio, which includes all fixed income, treasury and trading is focussed on classes of investments which are well-suited to a pension scheme as they provide more certain and secure returns, while matching some of the risks associated with our liabilities.
The last few weeks have witnessed the biggest stockmarket crash since 2008 and the difficult news keeps coming. Leisure industries are being hit hard and small businesses and more financially leveraged businesses will suffer. Following several years of relatively benign conditions, 2020 has changed that course in a dramatic way.
What might the investment outlook look like for the next decade and beyond? Mirko Cardinale, Head of Investment Strategy and Advice, at USS Investment Management’s explains how our active approach to managing the global decline in investment returns ensures that we remain alive to both the risks and opportunities available.