HOOPP asset shift limits losses

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CANADA - The C$27bn (US$9.76bn) Hospitals of Ontario Pension Plan (HOOPP) moved 20% of its fund out of equities in 2008, which, the fund claims, allowed it to limit its losses to -11.96%.

As a result, the fund said it closed the year 97% funded. HOOPP president and chief executive John Crocker said: "2008 was a volatile year in equity markets. The move to shift 20% the fund out o...

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