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Ontario Teachers’ Pension Plan is planning to shut down its Hong Kong office as it pares its exposure to China, according to people familiar with the matter.
The Canadian fund that managed C$255.8 billion ($178.5 billion) as of mid-2024 announced its decision internally this week, said the people, who asked not to be identified because the matter is private.
“We will be optimizing our footprint in the Asia-Pacific region through our offices in Singapore and Mumbai, where we have teams focused across asset classes and regional markets,” Ontario Teachers’ spokesperson Dan Madge said in an emailed statement Wednesday. He added that the pension fund made the difficult decision to close the Hong Kong office and plans to wind down “on-the-ground operations” over the coming 18 months.
https://finance.yahoo.com/news/ontario-teachers-set-shut-hong-170622106.html