$150B Toronto money manager cooling on Canada stocks

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One of Canada’s largest asset managers is paring its wager on the country’s stock market amid growing concern that a global recession could weigh more heavily on the nation’s shares.

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Mackenzie Investments, which oversees C$196 billion, downgraded its position on Canadian equities to neutral from overweight last week, citing concerns that efforts by policy makers around the world to stave off rising prices will drag down economic output.

“A lot of the cues that we’re seeing around the global economy, including the commitment to…