As is often the case, the mutual fund industry enjoyed solid sales in February, with net inflows to long-term totalling $7.9 billion, according to data from the Investment Funds Institute of Canada (IFIC). That’s up from $3.6 billion in January.
It also marks a steady increase from $5.87 billion in February of 2011 and $3.39 billion in February 2010.
“Net sales for the mutual fund industry totalled $7.08 billion. Net sales of long-term funds were $7.90 billion and net redemptions of money market funds were $827.4 million,” said Jon Cockerline, IFIC’s director, policy and research.