Re: USS pension fund in deficit?

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#22

From: M Holmes
Date: Thu, 01 Jun 2006 10:31

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In ed.general Sam Nelson <sam@ssrl.org.uk> wrote:

> Equally, USS itself claims there's nothing wrong at all, and that the author
> of the article just doesn't like its investment strategy.  Still, what does
> GBP6.6E9 count for these days?  Fiddling small change?

Relying on outperformance of an overweighting in equities was where
Standard Life placed their faith way back when. Ultimately the Regulator
forced them out and into bonds when the bet faileed to make good,
crystalising losses. This led up to yesterday's vote for demutualisation
since as the management pointed out "there is no Plan B".

As a strategy this amounts to the guy down on the Roulette table
punting all his losses on red in an effort to get back to even. If red
comes up, then everything is rosy. if black comes up...

USS can't demutualise its way out of trouble.

FoFP

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From: M Holmes <fofp@holyrood.ed.ac.uk>
Newsgroups: eduni.general,ed.general
Subject: Re: USS pension fund in deficit?
Date: Thu, 1 Jun 2006 10:31:18 +0000 (UTC)
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