DundeeWealth(TM) reports October 2009 fee earning assets of $65.0 billion and $230 million in net sales

Tue Nov 3, 11:22 AM

TORONTO, Nov. 3 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW.TO) reported total revenue earning fiduciary assets at October 31, 2009 of $65.0 billion. This includes $33.3 billion in assets under management ("AUM"), $7.1 billion in Bank Deposits from Dundee Bank of Canada and $24.6 billion in assets under administration ("AUA").

Change in AUM for the month includes long-term mutual fund net sales of $322 million and short-term mutual fund net redemptions of $142 million.

    
    Assets Under Management and Administration
    As at October 31, 2009
    (in millions of $)

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    Total AUA and AUM, including Bank Deposits                        64,993
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    AUM Activity, excluding Bank Deposits:
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    AUM at beginning of period                                        31,721
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    Gross additions                                                      669
    Gross redemptions                                                    439
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    Net additions                                                        230
    Change in market                                                    (551)
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                                                                      31,400
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    Dundee Securities managed accounts                                 1,933
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    October 31, 2009 AUM                                              33,333
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    AUM Breakdown:
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    Mutual funds                                                      23,973
    Closed end funds                                                     347
    Structured investment solutions                                      385
    High net worth accounts - Goodman Private Wealth                   1,620
    High net worth assets in other categories                           (374)
    High net worth accounts - Dundee Securities managed accounts       1,933
    Third party institutional                                          5,449
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                                                                      33,333
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    Dundee Bank of Canada, Bank Deposits                               7,070
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    Assets under Administration                                       24,590
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About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that oversees $65.0 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