The share of retirement savings plans’ assets held in publicly traded domestic firms fell from 28 per cent in 2000 to under four per cent in 2023, according to an open letter organized by Montreal-headquartered asset manager LetkoBrosseau. Business leaders who signed the letter are backing changes to pension rules that “encourage them to invest in Canada.” (The Logic)

Talking point: In November’s fall economic statement, the federal government signalled it wants pension managers to allocate more money domestically. The funds pushed back. Ottawa has tried using incentives to bring institutional investors into local companies and projects. Pension funds are “patient long term equity investors, just what Canada needs to forge its future,” the letter states. The 92 signatories are current and former CEOs of major public and private firms, including Jim Balsillie (BlackBerry), Eric Boyko (Stingray), Darren Entwistle (Telus), Linda Hasenfratz (Linamar) and Allen Lau (Wattpad).