Canada Seeks $715 Billion From Global Investors Amid Market Discount

Canadian Prime Minister Mark Carney has called on international investors to put their money into Canada's economy. At an investment summit in Toronto, he pitched a list of 167 major industrial and infrastructure projects and highlighted tax incentives, fiscal policy predictability, and streamlined regulatory procedures as attractions for investors.

Carney aims to attract C$1 trillion, or about $715 billion, in investment to Canada. Several asset managers have expressed interest in increasing their share of Canadian stocks in their portfolios after a closed-door meeting with Carney.

The Canadian stock market is valued at less than 16 times expected earnings over the next 12 months, compared to 19 for the S&P 500 index. Net foreign capital inflows into Canadian equities totaled C$7.2 billion in July, the highest pace since the start of the year.

Bank of Montreal economists estimate that inflows into all Canadian asset classes over the past 12 months were about $211 billion, or 8.7% of the country's GDP.