| University Superannuation Scheme invests in hedge fund replication |
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| 24/03/2008 | |
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The £30bn University Superannuation Scheme has invested £100m in a State Street Global Advisors hedge fund replication product, according to MandateWire. The hedge fund beta replication strategy aims to recreate the returns of a universe of hedge funds at a lower cost to USS than a conventional investment as the fund moves towards a 5% target allocation for alternative assets in 2008. The £1bn Somerset County Council Pension Fund is searching for an active long only global emerging market equity manager to oversee a pooled fund investment worth approximately £30m, according to MandateWire. No external investment consultant is engaged. The closing date for receipt of tenders is May 1, 2008. The £16.4bn Pensionskasse des Bundes Publica, the scheme for federal government employees, has confirmed that it will invest in commodities. |
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