(Corrects second paragraph to make clear the fund said its losses were worse than its composite benchmark return, rather than industry average)
TORONTO, APRIL 2 (Reuters) - The Ontario Teachers’ Pension Plan, one of Canada’s largest investors, said on Thursday it suffered an 18 percent loss on its investments last year, with equity and other holdings slammed by the global financial crisis.
The pension fund manager said the losses were worse than its composite benchmark return of 9.6 percent. Its net assets under management fell to C$87.4 billion ($69.9 billion) for the year ended Dec. 31, 2008. That compared with net assets of C$108.5 billion a year earlier.
The Teachers’ portfolio is made up of equities, fixed income and alternative investments including real estate, real-return bonds and commodities.
$1=$1.25 Canadian Reporting by Frank Pingue; Writing by Jeffrey Hodgson; editing by Peter Galloway