The Ontario Teachers’ Pension Plan, one of the largest pension funds in North America, has lifted its non-Canadian holdings by more than 50 per cent in the past two years, shifting C$30bn (US$30.5bn) into offshore assets.

The move, which transforms OTPP into a global investor, is possibly one of the boldest since the group decided in 1990 to shift its entire portfolio from Ontario debentures into stocks, bonds and hard assets.