DundeeWealth(R) Reports March 2010 Fee Earning Assets of $72.3 Billion, $511
Million in Net Sales and 4.4% Growth in AUM
TORONTO, April 1 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at March 31, 2010 of $72.3 billion. This includes $38.8 billion in assets under management ("AUM"), $7.5 billion in Bank Deposits from Dundee Bank of Canada and $26.0 billion in assets under administration ("AUA").
Change in AUM for the month includes long-term mutual fund net sales of $543 million and short-term mutual fund net redemptions of $9 million.
Assets Under Management and Administration As at March 31, 2010 (in millions of $) ------------------------------------------------------------------------- Total AUA and AUM, including Bank Deposits 72,253 ------------------------------------------------------------------------- AUM Activity, excluding Bank Deposits: -------------------------------------- AUM at beginning of period 35,001 ------------------------------------------------------------------------- Gross additions 1,192 Gross redemptions 681 ------------------------------------------------------------------------- Net additions 511 Change in market 1,083 ------------------------------------------------------------------------- 36,595 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Dundee Securities managed accounts 2,167 ------------------------------------------------------------------------- March 31, 2010 AUM 38,762 ------------------------------------------------------------------------- ------------------------------------------------------------------------- AUM Breakdown: -------------- Mutual funds 28,778 Closed end funds 204 Structured investment solutions 235 High net worth accounts - Goodman Private Wealth 1,906 High net worth assets in other categories (480) High net worth accounts - Dundee Securities managed accounts 2,167 Third party institutional 5,952 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 38,762 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Dundee Bank of Canada, Bank Deposits 7,499 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Assets under Administration 25,992 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Note: Our long-term mutual fund net sales, as reported to the Investment Funds Institute of Canada ("IFIC"), are $543 million. This amount includes $166.5 million relating to the merger of the diversiFunds(TM) line of closed end funds with certain of the Company's mutual funds. Closed end fund additions and redemptions are not reported by IFIC.
About DundeeWealth Inc.
DundeeWealth is a Canadian owned, independent wealth management company that currently oversees $72.3 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).
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
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