Ontario Teachers’ Pension Plan (Asia) approved to conduct regulated business in HK
27 May 2013
News, Global, Hong Kong, Canada
By Asia Asset Management
Ontario Teachers' Pension Plan (Asia) Limited, a subsidiary of Ontario Teachers' Pension Plan, announced on Monday (May 27) that it has been granted regulatory approval by the Hong Kong Securities and Futures Commission to conduct regulated activities, including dealing in securities, advising on securities, and asset management (Types 1, 4 and 9 regulated activities).
"I am pleased to confirm that our Asia subsidiary and its proposed responsible officers have received formal approval for these licences," said Jim Leech, president and chief executive officer of Canadian-based parent Ontario Teachers’ Pension Plan (Teachers'). "Asia has long been a region of interest to Teachers'. We look forward to continuing to build relationships with local partners and exploring new direct, co-investment and fund investment opportunities in the market."
The Asia office will be located in Hong Kong and staffed by local and Canadian equities staff from the fund's private capital and public equities departments. This office will be the fund's second major regional office. Teachers' European, Middle East and Africa regions private capital office opened in London in 2007.
With US$129.5 billion in net assets as of December 31, 2012, Teachers' is the largest single-profession pension plan in Canada. An independent organisation, it invests the pension fund's assets and administers the pensions of 303,000 active and retired teachers in Ontario.
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