Carmel Peters was named head of global emerging markets and Asia ex-Japan equities at the £28 billion ($45 billion) Universities Superannuation Scheme, Liverpool, England, according to Roger Gray, chief investment officer.
The position is new.
Ms. Peters was partner and head of Asia-Pacific and global emerging markets at RWC Partners. She will not be replaced at RWC, said Christopher Maude, director. RWC Asia Ascent Fund, the hedge fund that Ms. Peters managed, closed several months after its official launch last year because of lack of investor interest. “It wasn't due to performance,” Mr. Maude added.
Emerging markets equity comprises about 10% of USS' £20 billion equity portfolio.
“We expect emerging market exposure to grow over time,” Mr. Gray said in an e-mail response to questions. The appointment “will permit us to manage emerging market equities on a global basis.”
The scheme's emerging markets equity strategy had been part of broader regional mandates that span developed and emerging markets, Mr. Gray added. Further information on future plans to increase exposure to emerging markets was not available by press time.