UK - The Universities Superannuation Scheme (USS) has paid £1.8m (US$2.9m) in bonuses to its investment staff despite its funding level dropping severely, according to its annual accounts.

The Universities Superannuation Scheme has paid £1.8m in bonuses to its investment staff despite its funding level dropping severely, according to its annual accounts.

GLOBAL - Art as an asset class has historically outperformed equities and deserves a place in any significant investment portfolio, a latest research published by Castlestone Management has claimed.

SPAIN - Assets under management of Spanish pension funds suffered a 3.75% year-on-year decline due to market performance and reduced members' contribution, data by the Inverco reveal.

UK - Railpen Investments - which manages the assets of the Railways Pension Scheme -has invested £65m (US$109.3m) in a global long/short equity fund of hedge funds run by Goodhart Partners.

Cuts in future annuity rates due to the adoption of the Solvency II rules for insurers would put further strain on defined contribution scheme members, Aon Consulting says.

Railpen Investments - which manages the assets of the Railways Pension Scheme -has invested £65m in a global long/short equity fund of hedge funds run by Goodhart Partners.

UK - The value of DIY buy-in and longevity hedge deals struck during 2009 was almost double that of traditional buy-out / buy-in deals during the same period, latest research reveals.

The value of DIY buy-in and longevity hedge deals struck during 2009 was almost double that of traditional buy-out / buy-in deals during the same period, latest research reveals.

EUROPE - The European Union Alternative Investment Fund Managers directive could cost Europe's pension fund industry up to €25bn (US$36bn) a year if implemented in its current form, the Alternative Investment Management Association (AIMA) claimed.