DundeeWealth(R) Reports April 2010 Fee Earning Assets of $73.3 Billion, $257
Million in Net Sales and 2.3% Growth in AUM
TORONTO, May 3 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at April 30, 2010 of $73.3 billion. This includes $39.7 billion in assets under management ("AUM"), $7.5 billion in Bank Deposits from Dundee Bank of Canada and $26.2 billion in assets under administration ("AUA")(1).
Change in AUM for the month includes long-term mutual fund net sales of $266 million and short-term mutual fund net redemptions of $16 million.
Fee Earning Assets As at April 30, 2010 (in millions of $) ------------------------------------------------------------------------- ------------------------------------------------------------------------- AUM 39,663 AUA 26,153 Bank Deposits, Dundee Bank of Canada 7,469 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Total revenue earning fiduciary assets 73,285 ------------------------------------------------------------------------- ------------------------------------------------------------------------- AUM Activity: ------------- AUM at beginning of period, excluding Dundee Securities managed accounts 36,595 ------------------------------------------------------------------------- Gross additions 706 Gross redemptions 449 ------------------------------------------------------------------------- Net additions 257 Change in market 591 ------------------------------------------------------------------------- 37,443 ------------------------------------------------------------------------- ------------------------------------------------------------------------- High net worth accounts - Dundee Securities managed accounts 2,220 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Total AUM 39,663 ------------------------------------------------------------------------- ------------------------------------------------------------------------- AUM Breakdown: -------------- Mutual funds 29,529 Closed end funds 212 Structured investment solutions 257 High net worth accounts - Goodman Private Wealth 1,896 High net worth assets in other categories (442) High net worth accounts - Dundee Securities managed accounts 2,220 Third party institutional 5,991 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Total AUM 39,663 ------------------------------------------------------------------------- -------------------------------------------------------------------------
About DundeeWealth Inc.
DundeeWealth is a Canadian owned, independent wealth management company that currently oversees $73.3 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(R), 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).
(1) Due to rounding, figures may not add to total shown.
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
Share this article