DundeeWealth(TM) reports November 2009 fee earning assets of $67.3 billion, $358 million in net sales and 5.0% growth in AUM TORONTO, Dec. 1 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the
"Company") (TSX: DW - News) reported total revenue earning fiduciary assets at
November 30, 2009 of $67.3 billion. This includes $35.0 billion in assets
under management ("AUM"), $7.2 billion in Bank Deposits from Dundee Bank of
Canada and $25.2 billion in assets under administration ("AUA"). Net sales of $358 million, which is DundeeWealth's highest monthly net sales of the year, includes long-term mutual fund net sales of $344 million and also includes short-term mutual fund net redemptions of $22 million. As of November 30, 2009, DundeeWealth had $7.0 billion in AUM subject to performance fees. Based on market conditions at November 30, 2009, unrecognized net performance fees, before tax, would be approximately $16.1 million(1). Assets Under Management and Administration As at November 30, 2009 (in millions of $) ------------------------------------------------------------------------- Total AUA and AUM, including Bank Deposits 67,347 ------------------------------------------------------------------------- AUM Activity, excluding Bank Deposits: -------------------------------------- AUM at beginning of period 31,400 ------------------------------------------------------------------------- Gross additions 664 Gross redemptions 306 ------------------------------------------------------------------------- Net additions 358 Change in market 1,236 ------------------------------------------------------------------------- 32,994 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Dundee Securities managed accounts 1,999 ------------------------------------------------------------------------- November 30, 2009 AUM 34,993 ------------------------------------------------------------------------- ------------------------------------------------------------------------- AUM Breakdown: -------------- Mutual funds 25,314 Closed end funds 361 Structured investment solutions 396 High net worth accounts - Goodman Private Wealth 1,684 High net worth assets in other categories (393) High net worth accounts - Dundee Securities managed accounts 1,999 Third party institutional 5,632 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 34,993 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Dundee Bank of Canada, Bank Deposits 7,199 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Assets under Administration 25,155 ------------------------------------------------------------------------- -------------------------------------------------------------------------About DundeeWealth Inc. DundeeWealth is a Canadian owned, independent wealth management company that oversees $67.3 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 - News). ------------------------ (1) Performance fees are generally determined on December 31 of each year, and are only included in earnings when the amount of performance fees earned can be determined with certainty. Performance fees are impacted by capital market forces and therefore variances to this amount on a period by period basis may be significant. For further information Investor/Analyst inquiries: John Pereira, Chief Financial Officer, DundeeWealth Inc., (416) 365-5180 Source: DundeeWealth Inc.
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