USS IM cajoles hedge funds to behave better

Corporate governance initiatives gain traction with funds and investors

uss-awards
Daniel Summerfield (left) and Luke Dixon, USS

Not every institutional investor can claim to have had a profound impact on the evolution of the hedge fund industry. Arguably, USS Investment Management, the investment arm of the Universities Superannuation Scheme, is one.

USS is the second-largest pension scheme in the UK, with assets of more than $42 billion. The majority of assets are managed in-house by USS Investment Management, a wholly owned subsidiary of USS.

Just over five years ago, USS Investment Management embarked on a crusade to pu