News Formal

Ontario Pension says any loss from FTX investment to have limited impact

  • 📰 Reuters
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The Ontario Teachers Pension Plan (OTPP) said on Thursday it had invested a total of $95 million to the troubled cryptocurrency exchange FTX and any financial loss from the exposure will have limited impact on the pension plan.

OTPP, Canada's No. 3 pension fund, said it made the investments in FTX International and FTX U.S. exchange through its Teachers' Venture Growth fund, representing less than 0.05% of the pension fund's total net assets, it said.

In an interview with Reuters in September, OTPP had described its investment in FTX as the one having "lowest" risk profile in this space."Naturally, not all of the investments in this early-stage asset class perform to expectations," the fund said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Interesting, last month ecb had to bail out pension funds.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FTX's U.S. business is in troubleFTX US is separate from FTX, but its fate is likely to be equal.
Source: axios - 🏆 302. / 63 Read more »