More domestic investment by Canada's pension funds would strengthen the economy: Brosseau

The co-founder of the firm leading the charge to encourage Canada’s pension funds to invest more at home says that increased domestic investment would strengthen the Canadian economy, and the funds themselves in turn.

Daniel Brosseau, partner at Montreal-based investment management company Letko Brosseau, told BNN Bloomberg that Canada’s pension plans should look at more than just near-term returns when deciding where to invest capital.

“Domestic investments have an enormous impact, which (pension funds) can't see because they're just looking at the returns on their investments,” Brosseau said in a Tuesday morning television interview.

“(They’re) missing out on the economic impact of the investments on the local economy, which is considerably larger… the wellbeing of the pensioners has something to do with the wellbeing of their incomes.”