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Pension funds invest in risky assets, just at a lower percentage than say a hedge fund with accredited investor status. The Ontario Teachers Pension Plan lost $
by rchaud 3y ago
Pension funds invest in risky assets, just at a lower percentage than say a hedge fund with accredited investor status. The Ontario Teachers Pension Plan lost $100m to the FTX bandits last year.
https://www.ft.com/content/29c67711-377c-4435-9c90-280852374e93 https://www.ft.com/content/29c67711-377c-4435-9c90-280852374...
- Analemma_ 3y agoIf you manage a pension fund, especially a public pension fund, putting any of the money in crypto should be grounds for immediate termination at the very least, and possibly civil and criminal penalties. There's no excuse for touching that radioactive shitpile with other people's money after the countless demonstrations of fraud and incompetence.
- notzane 3y agoTheir statement explains it pretty reasonably: https://www.otpp.com/en-ca/about-us/news-and-insights/2022/ontario-teachers--statement-on-ftx/ https://www.otpp.com/en-ca/about-us/news-and-insights/2022/o... > Our investment represented less than 0.05% of our total net assets > Naturally, not all of the investments in this early-stage asset class perform to expectations, however, since inception, TVG has delivered solidly on intended objectives.