DundeeWealth(TM) reports September 2009 fee earning assets of $65.4 billion and 5.9% growth in AUM

Fri Oct 2, 3:38 PM

TORONTO, Oct. 1 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW.TO) reported total revenue earning fiduciary assets at September 30, 2009 of $65.4 billion. This includes $33.6 billion in assets under management ("AUM"), $6.8 billion in Bank Deposits from Dundee Bank of Canada and $24.9 billion in assets under administration ("AUA").

Growth of 5.9% in AUM for the month consists of Investment division market appreciation of $1.6 billion, long-term mutual fund net sales of $218 million and short-term mutual fund net sales of $93 million. Net sales of short-term assets includes a $110 million purchase from a single institutional investor.

    
    Assets Under Management and Administration
    As at September 30, 2009

    (in millions of $)

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    Total AUA and AUM, including Bank Deposits                        65,387
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    AUM Activity, excluding Bank Deposits:
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    AUM at beginning of period                                        29,930
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    Gross additions                                                      648
    Gross redemptions                                                    462
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    Net additions                                                        186
    Change in market                                                   1,605
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                                                                      31,721
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    Dundee Securities managed accounts                                 1,923
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    September 30, 2009 AUM                                            33,644
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    AUM Breakdown:
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    Mutual funds                                                      24,182
    Closed end funds                                                     357
    Structured investment solutions                                      396
    High net worth accounts - Goodman Private Wealth                   1,629
    High net worth assets in other categories                           (378)
    High net worth accounts - Dundee Securities managed accounts       1,923
    Third party institutional                                          5,535
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                                                                      33,664
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    Dundee Bank of Canada, Bank Deposits                               6,823
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    Assets under Administration                                       24,920
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About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that oversees $65.4 billion in fee earning assets. It provides diversified wealth management and investment solutions including alternative and tax-advantaged products, capital markets and advisory services to financial advisors, institutions, corporations and foundations, and innovative wealth management through independent financial advisors across Canada. Its award winning investment brand, Dynamic Funds(TM), managed by Goodman & Company, Investment Counsel Ltd., is also available outside of Canada through distribution platforms in Europe and the United States. DundeeWealth is listed on the Toronto Stock Exchange (TSX: DW.TO).

Contacts

Investor/Analyst inquiries: John Pereira
Chief Financial Officer
DundeeWealth Inc.
(416) 365-5180

Media inquiries: Myra Reisler
Manager
Public Affairs
DundeeWealth Inc.
(416) 365-5370