An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank's collapse.
The State Teachers Retirement System of Ohio stated that the shares represented a minuscule portion of its overall holdings --.03% of the total fund -- which held over $88.8 billion in assets as of June 2022. The statement confirmed that the bank had no shares of Signature or Silvergate banks, which collapsed in the past weeks.
The financial crisis has impacted other pension funds, including North Carolina's state pension fund and California's public employee retirement fund.
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