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Posted on 03/02/10

RRSP season boosts long-term fund sales

INVESTMENT FUNDS REPORTERCanadians stashed about $560-million into mutual funds in January as the registered retirement savings plan season kicked in high gear.While the net sales were sharply lower than $1.2-billion a year ago, the trend was upbeat for the Canadian industry because it was all in higher-margin, long-term funds, according to preliminary figures released yesterday by the Investment Funds Institute of Canada (IFIC).

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