(February 16 – 16:45 ET) – C.I. Mutual Funds, Fidelity Investment Canada Ltd., and AIM Funds Management Inc. led the field in mutual fund sales of long term assets in January.

C.I. funds pulled in $882 million in gross sales, compared to a combined C.I./BPI sales of $302 million in January last year. Net new sales tripled to $609 vs $204. Fidelity saw gross sales rise 23% year over year to $765 million. Redemptions remained fairly stable. Net new sales were nearly double January ’99 at $458 million. AIM Funds, with $7.2 billion in assets was one of the big winners. Gross sales were $562 million vs $123 million last year. AIM experienced low redemptions as investors held firm. Net new sales increased five-fold over ’99 to $479 million.

At Mackenzie Financial Corp. Toronto, gross sales rose by a third to $543 million. But Mackenzie was hit with $488 million in redemptions — new sales fell to $56 million.

AGF Management Ltd. also experienced nearly a 30% rise in gross sales to $436 million; net sales were $179 million, down slightly from ’99.

Like AIM, Synergy Asset Management, Toronto, also caught the eye of advisors in January. Gross sales were a respectable $61 million, on assets of $496 million. Synergy was in the fortunate position of seeing most of those sales hold firm. Net new sales were $57 million.

Investors are shying away from AIC Ltd., Burlington, Ont. this RRSP season. Gross sales in January were running 70% below a year earlier at $110 million. AIC has been in redemption since last November.

Top selling long-term funds in the month included: Fidelity International Portfolio Fund with $156 million in gross sales; Mackenzie RSP Universal Select Managers Fund with $135 million and C.I.’s BPI Global Equity Fund with $121 million.