Can Administration Groups be used to control backup Retention Policy?

I've only just started looking at Administration Groups as a way of controlling database configuration but am not even sure if that's what it's for.

We're currently moving systems into a 3rd party data centre and are having to change the backup Retention Policy for all our Database targets. Problem is we're being forced to operate within a specific backup area size and we're not sure how much retention we're going to be able to set. We'll likely need to change it several times.

Thus, it would be ideal if we were able to change the backup Retention Policy for all QA Database targets with a single policy. Is this what Administration Groups would allow us to do?