Canadian investors purchased between $5.9 billion and $6.5 billion in mutual funds during the month of February, a significant jump from January sales, according to the Investment Funds Institute of Canada.


"With preliminary sales estimates at close to $6.2 billion for February, Canadian investors have sent a signal that they are still committed to RRSP investment in 2008," said Pat Dunwoody, vice-president of member services and communications with IFIC.


Canadian investors bought a net $460.5 million in mutual funds in January, favoring short-term money market funds.


IFIC said investors have started to look longer term, with 50% of estimated February flows going into long-term funds.


IFIC estimated net assets of the mutual fund industry are currently between $676.2 billion and $681.2 billion.

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