TORONTO — One of Canada's biggest insurance and financial services companies says nervousness among Canadian investors has risen to levels not seen since the financial crisis.

Manulife Financial (TSX:MFC) says that Canadian investors have lost confidence in mutual funds, exchange-traded funds and balanced mutual funds over the past six months. It also suggests that housing is seen as a less attractive investment, while confidence in fixed income investments has stayed about the same. The report is based on Manulife's semi-annual index of investor sentiment index, which dropped to 16 in December from 19 last May. The index is based on investor views on a range of asset classes as well as their confidence in these areas. Regionally, investors in Ontario and the Atlantic provinces were the most optimistic with a score of 20, while Quebec ranked lowest at nine. Alberta was second lowest at 14.