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People moves: Former USS responsible investment head joins Chronos
Plus: Northern Trust Asset Management names head of global institutional client group; HSBC AM appoints global CIO
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AP7, USS, Church of England among 27 calling for urgent biodiversity action
Biodiversity loss is a ‘systemic risk which investors cannot avoid through diversification’, says AP7
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USS settlement with Petrobras and PWC Brazilian subsidiary
In February 2018, the Universities Superannuation Scheme (USS) reached a settlement with PWC’s Brazilian subsidiary as part of a class action lawsuit against Petrobras.
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USS to reduce contribution level to 14.5% in January
While reporting a healthy surplus, lowering contribution rates and improving benefits is a ‘positive backdrop for USS’, says CEO Carol Young
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Brunel, USS to sit on UK wealth fund advisory body for Labour Party
£7.3bn of public capital has been proposed for the opposition party’s envisaged National Wealth Fund
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USS employers agree to restore university pension benefits
UUK and UCU agreed to full benefit restoration to pre-April 2022 levels by Monday 1 April 2024
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USS aims to be ‘more rigorous’ in its stewardship
New approach ‘may see us vote against reappointment of responsible directors,’ says USS chair
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USS and academics develop new approach to climate scenarios
New narrative scenarios are more realistic than mainstream quantitative scenarios, according to new report
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USS employers urge scheme for fast conclusion of 2023 valuation
Employers ‘wish to be cautious and proportionate’ in making responses to USS’s improved funding position
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USS sees assets under management drop by 16%
USS asset under management fell from £90.8bn to £75.5bn last year
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USS consults on lowering contribution rate to 16.2%
Indicative results reflect a significant change in the economy since the 2020 valuation was finalised in the latter half of 2021
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USS: British universities adopt modern pension investment governance
Mirko Cardinale, head of investment strategy and advice at USS Investment Management, speaks to Carlo Svaluto Moreolo about the recent changes in the scheme’s governance framework
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Swiss unions slam decision to hold minimum interest rate on pension savings at 1.25%
Swiss Federation of Trade Unions, SGB USS and Union Travail.Suisse call for higher minimum interest rate
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USS reduces carbon emission intensity by 21% but warns more needs to be done
‘The government and regulators have a huge part to play here, not least by ensuring a predictable, transparent, and stable regulatory environment,’ says Innes McKeand
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UK Court of Appeal dismisses case brought against USS directors
Claims against USS directors were ‘bound to fail’, according to Judge Sarah Asplin
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USS launches inaugural asset-backed securities mandate
Initial focus on investment grade and likely to exceed £1bn over the next couple of years
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USS chief signals ‘cautious optimism’ as new report shows £5bn surplus
CEO says more ups and downs may come before end-March official valuation of UK academics’ DB scheme
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USS emphasises value for money after ‘unwelcome’ benefit changes
UK universities pension scheme says analysis shows it is almost a quarter cheaper than peers
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USS chief to step down next year after decade in role
During his tenure, Bill Galvin has built a high-performing executive team, and has steered the scheme through challenging circumstances
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Employers down on UCU proposal for resolving USS dispute
93 of 97 employers did not support the proposal, according to UUK