The fund said it invested $75 million in FTX International and its U.S. entity FTX.US in October 2021, and then another $20 million in FTX.US in January of this year,. The investments were made through Teachers’ Venture Growth platform and represented less than 0.05% of the fund's total net assets, the statement added.
"The financial loss from this investment will have limited impact on the Plan, given its size relative to our total net assets and our strong financial position," said Ontario Teachers'."However, we are disappointed with the outcome of this investment, take all losses seriously and will use this experience to further strengthen our approach.", as of June 30, according to a recent investor presentation.
This isn't the first time a large Canadian pension fund got caught up in the crypto-related contagion. This past August, Caisse de Depot et Placement du Quebec – with more than $300 billion in AUM –
retheauditors FTX_Official Aoyon_A what
FTX_Official Aoyon_A This just goes to show that even established, trusted investment firms don't know SHIT about due diligence. The amount of institutions that invested in FTX makes one think theyre just as bad at their job.
FTX_Official Aoyon_A That will show them not to steal money from the people
FTX_Official Aoyon_A Feeneybaggins Rob31713295
FTX_Official Aoyon_A Teachers' funds invested in scam FTX. Wonder how they teach students at school about financial stuff?
FTX_Official Aoyon_A RIP to all my teacher friends that will feel the effects of this mismanagement. Pension plans are meant to be fairly low-med risk in order to sustain the value.. who’s bright idea was it to add such a high risk investment to this portfolio🤔
FTX_Official Aoyon_A Bro check out new token cool projects on CoinMarketCap MAMA masterpiece maker
FTX_Official Aoyon_A Did they not also lose funds with Celsius?
FTX_Official Aoyon_A