Ontario Teachers’ Pension Plan, Canada’s second largest pension fund, has licensed credit risk modelling software from Honolulu-based Kamakura.The pension fund has licensed a credit default probability service called ‘Kris-cr’, and a further credit risk management software package called ‘KRM-cr’. It is also retaining Kamakura on a consulting basis to help it develop a proprietary default probability model.
“Teachers’ is widely recognised for its capabilities in risk management, and we look forward to assisting the organisation in setting a new standard for credit risk,” said Warren Sherman, Kamakura’s chief operating officer.
The Ontario Teachers’ Pension Plan has net assets of Can$ 68.2 billion (US$50 billion). It is responsible for the retirement income of 154,000 elementary and secondary school teachers, and 93,000 retired teachers and their families.
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