Ontario funds see sharp 2008 losses

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CANADA - The Ontario Teachers' Pension Plan (OTPP) and the Ontario Municipal Employees' Retirement System (OMERS) posted significant losses through 2008, the schemes' annual reports reveal.

At the end of the year, the OTPP's assets stood at CAN$87.4bn (US$70.5bn), down from C$108.5bn at the end of 2007. The fund said its investment return for the year was a decline of 18%, compared to...

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