OTPP, CPPIB cut listed stocks, underline Asia focus

Canada Pension Plan Investment Board and Ontario Teachers Pension Plan are busy revising their portfolios amid rising interest rates and fears that inflation may rise faster than expected. They are also underlining the importance of Asia, and particularly China, to their business and investment strategies. Canada’s two biggest state retirement funds, with C$561 billion ($430 billion) under management between them, have boosted allocations to private equity and cut exposure to list…