Carney’s glitzy summit lures international investments to Canada

Prime Minister Mark Carney’s effort to charm a cadre of the world’s largest investors at a VIP-only summit in Toronto last week is paying quick dividends for Canadian investments. With a stock market trading at a discount to its U.S. rival, an improving growth outlook and Carney’s promises of tax cuts, fiscal policy certainty and regulatory rollbacks, multiple fund managers say they are boosting their equity allocations in Canada. In addition, the country’s bigger-than-expected list of 167 major industrial and infrastructure projects has unearthed new investing ideas as Carney seeks 1 trillion Canadian dollars ($715 billion) of investment in the nation.