Pension fund says writedown of stake in troubled utility will ‘influence’ its approach
One of the UK’s biggest pension funds has warned that dramatic losses on its investment in Thames Water will shape its approach to other regulated utilities, in a blow to the new Labour government’s drive to attract more institutional investment into British infrastructure.
“Economically regulated assets should be a good fit for long-term patient investors like USS, particularly where, as with infrastructure, they require long-term investment to address historical challenges,” he said. “That is, though, dependent on similarly long-term, consistent regulation that recognises the need for that investment and that strikes a fair balance between risk and returns over the long term,” he added. USS has £77.
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