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DundeeWealth(TM) reports August 2009 fee earning assets of $62.5 billion, $218 million in net sales and $726 million increase i

^{Published on 2009-09-02 04:55:07 - Market Wire}
 

 TORONTO, Sept. 2 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at August 31, 2009 of $62.5 billion. This includes $31.8 billion in assets under management ("AUM"), $6.6 billion in Bank Deposits from Dundee Bank of Canada and $24.1 billion in assets under administration ("AUA"). Growth of 2.3% in AUM for the month includes Investment division market appreciation of $464 million, long-term mutual fund net sales of $233 million and short-term mutual fund net redemptions of $17 million. Assets Under Management and Administration As at August 31, 2009 (in millions of $) ------------------------------------------------------------------------- Total AUA and AUM, including Bank Deposits 62,491 ------------------------------------------------------------------------- AUM Activity, excluding Bank Deposits: -------------------------------------- AUM at beginning of period 29,248 ------------------------------------------------------------------------- Gross additions 485 Gross redemptions 267 ------------------------------------------------------------------------- Net additions 218 Change in market 464 ------------------------------------------------------------------------- 29,930 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Dundee Securities managed accounts 1,846 ------------------------------------------------------------------------- August 31, 2009 AUM 31,776 ------------------------------------------------------------------------- ------------------------------------------------------------------------- AUM Breakdown: -------------- Mutual funds 22,620 Closed end funds 339 Structured investment solutions 306 High net worth accounts - Goodman Private Wealth 1,554 High net worth assets in other categories (333) High net worth accounts - Dundee Securities managed accounts 1,846 Third party institutional 5,444 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 31,776 ------------------------------------------------------------------------- Dundee Bank of Canada, Bank Deposits 6,562 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Assets under Administration 24,153 ------------------------------------------------------------------------- About DundeeWealth Inc. DundeeWealth is a Canadian owned, independent wealth management company that oversees $62.5 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).

For further information: 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