Moving into alternatives

In 2007 one of the UK’s largest pension funds made the decision to allocate at least a fifth of its assets to alternatives. Hedge Funds Review finds out how USS is achieving its goal.


Universities Superannuation Scheme (USS), the second-largest private sector pension fund in the UK, has set itself an ambitious target to allocate at least 20% of its £25–£30 billion in assets to alternatives. Of this allocation, around a quarter of the money will go directly into hedge funds.

The task of carrying out this plan falls to chief investment officer Roger Gray and head of alternative assets, Michael Powell. Gray, who joined USS in September 2009, says the strategy shift was decided

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here