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Posted AT 4:03 AM EDT on 03/03/07

'Phenomenal' February fund sales of $7.8-billion are best since 1998

KEITH DAMSELL

From Saturday's Globe and Mail

Investors pumped an estimated $7.8-billion into Canadian mutual funds last month as they poured money into registered retirement savings plans. It was the best February showing since 1998 when the industry reported $7.5-billion in net sales. “It's absolutely phenomenal,” said Peter Loach, fund analyst at BMO Nesbitt Burns Inc. in Toronto. The sales data reflects “strong returns from the core asset classes.

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