03:33:34 EDT Thu 02 May 2024
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Maple Leaf Foods Inc
Symbol MFI
Shares Issued 122,704,659
Close 2024-03-05 C$ 22.70
Market Cap C$ 2,785,395,759
Recent Sedar Documents

Globe says Telus, others call for more Cdn pension cash

2024-03-06 07:34 ET - In the News

See In the News (C-T) Telus Corp (2)

The Globe and Mail reports in its Wednesday edition that more than 90 top business leaders and chief executive officers, representing some of Canada's largest companies, are putting their names behind a campaign to increase Canadian pension plan investments in domestic businesses. The Globe's Andrew Willis and James Bradshaw write that executives supporting the campaign made their case in an open letter to be sent Wednesday to Finance Minister Chrystia Freeland and her provincial counterparts. The letter urges the politicians to "amend the rules governing pension funds to encourage them to invest in Canada." Pension funds hold roughly a third of the country's institutional capital, putting them on par with Canada's banks. However, they invest only 4 per cent of their capital in publicly traded Canadian stocks, according to the letter. "Pension funds are unique in their ability to be patient long term equity investors, just what Canada needs to forge its future," the letter says. "Without government sponsorship and considerable tax assistance, pension funds would not exist," it adds. Signatories include CEOs at Couche-Tard, Bombardier, Tourmaline Oil, Telus, Rogers, Quebecor and the executive chair of Maple Leaf Foods.

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