USS IM cajoles hedge funds to behave better

Corporate governance initiatives gain traction with funds and investors

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