Net new sales of mutual funds for February are estimated to be between $7.5 billion and $8.1 billion, according to figures released Friday by the Investment Funds Institute of Canada.

“IFIC is a big proponent of Canadians saving for their own long-term financial goals and these figures prove they’re doing just that,” said Pat Dunwoody, IFIC’s vice president, member services & communications, in a news release.

Two firms exceeded $1 billion in monthly net sales, RBC Asset Management and TD Asset Management, with $1.5 billion and $1.2 billion in net sales, respectively. Another bank, BMO Financial, took third place, with $763 million in net sales.

IGM Financial was a solid fourth place, with $686 million in net sales. AIM Trimark ranked fifth with $436 million in net sales, just edging out CIBC Asset Management. Other firms with more than $100 million in sales include Desjardins, Franklin Templeton, Brandes Investment Partners, Scotia Securities, Fidelity Investments and IA Clarington.

AIC, Manulife and Dynamic reported modest net redemptions, according to IFIC. Although Dynamic had $79 million in long-term net sales.

IFIC also estimates that net assets of the mutual fund industry at the end of February will be in the range of $683 billion to $688 billion, up approximately 1.8% from last month’s total of $673.4 billion.