Hi ArcticKnight,
You want to make a safe, stable investment, without having to actively manage your investment. I'm not in Canada, nor have I ever made investments through a Canadian institution, but I can give you some simple advice.
You don't want to completely waste the potential of your cash (by leaving it in a checking account or something), but you're skeptical about the current market conditions. In such a case, I would recommend putting your capital in a high yielding savings account or purchasing some relatively short term CDs (in Canada, I think they are called GIC?). Hopefully you can expect 4-5%, but I'm not sure about Canada. Since you don't need the money soon, you may prefer a GIC, although in a few months, the market conditions might seem different. In America, a great site to check all sorts of rates offered by banks (such as mortgages, CDs, checking and saving accounts, etc...) is
BankRate.com. I believe
this site is from the same provider, and focuses on various bank rates in Canada. I suggest savings account as an alternative to GIC, because in a few months, you may feel that you want to invest that money elsewhere. If you had a lot of money and were willing to take on a little more risk, government bonds, or investment grade bonds may be suitable. Although that will take a little more effort than letting your cash sit in a savings account.
Clark