USS warns of 'challenging' outlook despite closing deficit

Stephanie Baxter
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The Universities Superannuation Scheme (USS) has warned that it faces a difficult investing environment, despite increasing its funding ratio from 77% to 85% over the year to March.

The scheme - the largest in the UK - is still facing a shortfall of £7.2bn, down from £11.5bn in March 2013. Chairman Sir Martin Harris attributed the stubborn deficit to extremely low governmen...

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