Net sales of mutual funds in Canada for January were between $2.45 billion and $2.95 billion, according to estimates released Wednesday by the Investment Funds Institute of Canada.

Net sales rose as long-term sales outpaced money market redemptions, IFIC said.

Among the firms reporting to IFIC, RBC Global Asset Management was back on top of the sales charts in the month with $614 million in overall net sales. Dynamic Mutual Funds ranked second with $554 million, and Scotia Asset Management was third with $415 million.

RBC also led the long-term sales, with more than $1 billion in monthly sales. Dynamic was second again at $573 million.

No other firm had as much as $400 million in long-term net sales, although several were close to that threshold.

IFIC also estimates that industry net assets for the month finished at between $639.1 billion and $644.1 billion up approximately 0.94% from last month’s total of $635.7 billion.