TSX could 'disappear' without more domestic investment from Canadian pensions: Letko

A veteran wealth management executive says that unless Canada’s largest pension plans start investing more domestically, institutions like the Toronto Stock Exchange could one day fall by the wayside.

Peter Letko, co-founder and partner at investment management firm Letko Brosseau, told BNN Bloomberg that Canada’s economic and financial health is being impacted by the low level of investment from Canadian pension funds.

“I don't think this is good for our economy. It's certainly not good for our financial markets,” he said in a Friday morning television interview.

“Do we want to see a great institution that has served us well like the TSX and other exchanges in Canada just disappear or wind into the Nasdaq or the New York Stock Exchange? I think it's important that we control our capital and direct our capital to the benefit of Canadians as a whole.”