Our National Super Fund has divested alot of their holdings in the Oil Companies at the behest of the Green Party and national sentiment. The policy is to now invest in clean industries.
Having divested their holdings in Oil companies at a high, I reckon they could make a killing through buying oil shares again. But they wont.
Actually Nders are adverse to the share market
No amount of cajoling will see too many mum and pops play the share market. They rather invest in real estate as their are no capital gain taxes.
If you make s million in a year it's all yours . If you made the same in shares you could loose up to 33% of it in taxes. So what would you do.
Now, I think you are talking about Canada with regarding capital tax. So I'm not familiar with the Canadian tax system.
Here in the UK, Capital gains tax is payable on all gains including real estate, except for the home you are living in!
I'm sure (without checking) Canada would have somerhing similar, otherwise, 1/ government missed opportunity for revenue. 2/ this would lead to uncontrol real estate market at the expense of capital market.