The Universities Superannuation Scheme (USS) has chosen UBS Global Asset Management - Fund Services to provide hedge fund of funds administration services. The UK's second largest pension fund has recently enhanced its in-house hedge fund selection capability, and has implemented an Absolute Returns Strategies programme. UBS's Fund Services Ireland will administer the funds.

Universities Superannuation Scheme (USS) global equity investment capability has been boosted by eight new clients, including six UK local authorities, over 2009, amounting to £800million of new assets. Research by the group shows that global equity has also been the most searched for risk asset class by UK defined benefit schemes over the last year, with schemes seeking managers capable of delivering consistent outperformance in a difficult environment.

Universities Superannuation Scheme (USS) has been chosen to insure the Walthamstow Stadium Limited Retirement Benefits Scheme, which has assets of £19million. The pension scheme is closed to future accrual following the closure of the business, and the Trustee concluded that a full buyout transaction with PIC was necessary to secure the safety and security of member benefits.

Universities Superannuation Scheme (USS) has chosen Capita Hartshead to provide pensions administration services to members of its Police Pension Scheme. Day-to-day administration, as well as pensioner payroll, will be handed over the Capita Hartshead for 6.200 members, which is currently administered by the County Council. The administration services will operate from Capita Hartshead's Banstead office, and be live in November 2009.

SEI has been appointed by the East of England Co-operative Pension Schemes to represent £78million of assets across two defined benefit plans. The Trustees of the Ipswich & Norwich and of the Colchester & East Essex schemes will partner with SEI to implement an integrated strategy focused on improving the schemes' funding statuses.

Devon County Council Pension Fund has appointed a number of new investment managers following searches by bfinance. The funds, which were transitioned on 22 July, will be split among four managers and two asset classes, and total £480million. Lazard Asset Management Ltd and Wellington Management International Ltd will manage £150million each in Global Aggregate Bonds, and Aberdeen Asset Management Ltd and Sarasin & Partners LLP will manage £90million each in Global Equities.

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