mast image

Special Report

Impact investing

Sections

USS in central Europe real estate move

Related Categories

EUROPE - The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it central European real estate holdings.

First Property Group, which manages regional real estate for the fund, said that since June "it had been contracted to acquire an additional €13m in Central Europe, primarily on behalf of the fund managed for the Universities Superannuation Scheme".

In August 2005 the property asset management business won a €74.3m mandate from USS to invest in property in the UK and Central Europe. First Property's assets under management now exceed £75m.

USS invests 10% of its assets in property. Some 80% of its assets are allocated in equities, an exposure that was much debated earlier this year.

In a Statement of Investment Principles published in July 2006 the fund stated that "the target for investment in alternative assets is 5% of the total fund by 2008 and is to be accommodated within the 80% allocation to equities."

Property is not counted among alternative assets. The fund is looking at private equity, commodities, currencies, absolute return strategies, derivatives and infrastructure.

"The management committee also believes that alternative investments, i.e. those investments which are not traditional fixed interest, property or mainstream quoted equities, can provide similar returns to equities whilst diversifying the sources of excess return (over fixed interest securities)."

The rest of the USS portfolio is invested in fixed interest (10%).

Earlier this month it emerged that USS was looking to hire two responsible investment staff as a result of "re-organisation and expansion".

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<