Ontario Teachers to raise Asia, EM exposure
The $128 billion Canadian retirement fund is likely to put a presence in Brazil, after it recently set up in Hong Kong. But it is wary of emerging-market debt.
Ontario Teachers’ Pension Plan is moving to build up its overseas portfolio, most notably in Asia, but emerging-market debt is not top of the list of investments planned by the C$127.3 billion ($128 billion) state retirement fund.
OTPP received the appropriate licences and opened an office in Hong Kong – its first in Asia – in September, as it felt it had reached a sufficient level of investment in the region and the markets are now riper for tapping by direct investors.
“We set…
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