UPDATE 1-UK university fund to boost bonds by 1.4 bln stg

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By Cecilia Valente

LONDON, Jan 25 (Reuters) -The 28 billion pound ($45.17 billion) British universities pension fund is set to invest a further 1.4 billion pounds in fixed income as it seeks to reduce its equity allocation in a bid to lower risk, its CIO said.

The University Superannuation Scheme (USS) is also ploughing in a similar amount to hedge fund investments.

"Over time as the scheme matures and our funding ratio improves we are likely to move more in fixed-income assets," Roger Gray told Reuters on Monday. ($1=.6199 Pound)