Canadian pensions urged to up domestic allocation after Glencore’s bid for Teck

Reuters exclusively reported that institutional investors are backing a call for Canadian pension funds to increase their exposure to domestic companies. Canadian pensions have cut their exposure to domestic companies over the last decade, making some of the strategic companies vulnerable to foreign takeovers. The issue has snowballed since Swiss miner Glencore made an unsolicited approach for copper miner Teck Resources, in which Canadian pension funds only own a 0.8% stake, while China Investment Corp owns a 10.3% stake.