USS’ largest investments in companies, 2013

This amounts to 1.2 per cent of the pension pot and is the largest investment in a company made by the organisation.

More than £694 million, or 1.8 per cent of the fund, is invested in two of the largest oil companies worldwide, Royal Dutch Shell and BP.

Telephone giant the Vodafone Group (£306 million), pharmaceutical company GlaxoSmithKline (£259 million) and manufacturer Nestlé (£205 million) also make it into the top six investment companies.

British American Tobacco and the British-Australian mining company Rio Tinto also feature in the top eight, according to the report published in the autumn.

holly.else@tsleducation.com