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Ontario Teachers’ Pension Plan to Open Hong Kong Office in 2013

Ontario Teachers’ Pension Plan, Canada’s third-largest retirement fund, plans to open a Hong Kong office next year as it diversifies its investments and bridges funding shortfalls.

Deborah Allan, the retirement fund’s Toronto-based director of communications and media relations, declined to give further details in an e-mailed response to a Bloomberg News inquiry, saying plans are not yet finalized. The retirement fund had C$117 billion ($117 billion) of assets at the end of last year.