DundeeWealth(R) Reports July 2010 Fee Earning Assets of $72.2 Billion and
$193 Million in Net Sales

TORONTO, Aug. 3 /CNW/ - DundeeWealth Inc. ("DundeeWealth") (TSX: DW) reported total revenue earning fiduciary assets at July 31, 2010 of $72.2 billion. This includes $39.4 billion in assets under management ("AUM"), $7.4 billion in Bank Deposits from Dundee Bank of Canada and $25.4 billion in assets under administration ("AUA").

Change in AUM for the month includes total mutual fund net sales of $158 million, which is comprised of long-term mutual fund net sales of $157 million and short-term mutual fund net sales of $1 million.

    
    Fee Earning Assets
    As at July 31, 2010
    (in millions of $)
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    AUM                                                               39,372
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    AUA                                                               25,436
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    Bank Deposits, Dundee Bank of Canada                               7,383
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    Total revenue earning fiduciary assets                            72,191
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    AUM Activity:
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    AUM at beginning of period, excluding Dundee Securities
     managed accounts                                                 35,856
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    Gross additions                                                      532
    Gross redemptions                                                    339
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    Net additions                                                        193
    Change in market                                                   1,065
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                                                                      37,114
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    High net worth accounts - Dundee Securities managed accounts       2,258
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    Total AUM                                                         39,372
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    AUM Breakdown:
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    Mutual funds                                                      29,266
    Closed end funds                                                     217
    Structured investment solutions                                      246
    High net worth accounts - Goodman Private Wealth                   1,898
    High net worth assets in other categories                           (405)
    High net worth accounts - Dundee Securities managed accounts       2,258
    Third party institutional                                          5,892
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    Total AUM                                                         39,372
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About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that currently oversees $72.2 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).

For further information: Investor/Analyst inquiries: John Pereira, Chief Financial Officer, DundeeWealth Inc., [phone]; Media inquiries: Myra Reisler, Manager, Public Affairs, DundeeWealth Inc., [phone]