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.