Canada's OTPP CEO says India to account for 5-10% of global assets in 15-20 years
India will account for 5-10% of Ontario Teachers' Pension Plan's (OTPP) assets in the next 15-20 years, as the pension fund seeks to expand its bets on sectors such as infrastructure, healthcare and renewable energy, its chief executive told Reuters.
OTPP's current India exposure is less than 2% of its $240 billion in assets globally.
"Our exposure to India will be a very significant part of the balance sheet," CEO Jo Taylor said in an interview on Tuesday.
"It ticks a lot of the boxes that I would say we want to see in a country to have high levels of exposure - stable government, growing economy, predictable regulatory and judicial system, and a currency that is not going to kill us."
The fund opened an India office in May this year - its third in Asia after Singapore and Hong Kong - and plans to hire 10 people by the end of the year, OTPP said in a statement.
(Reporting by Abhirup Roy and Sriram Mani in Mumbai; writing by Tanvi Mehta in New Delhi; Editing by Kirsten Donovan and David Evans)
