DundeeWealth(TM) reports September 2009 fee earning assets of $65.4 billion
and 5.9% growth in AUM

TORONTO , Oct. 1 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at September 30, 2009 of $65.4 billion . This includes $33.6 billion in assets under management ("AUM"), $6.8 billion in Bank Deposits from Dundee Bank of Canada and $24.9 billion in assets under administration ("AUA").

Growth of 5.9% in AUM for the month consists of Investment division market appreciation of $1.6 billion , long-term mutual fund net sales of $218 million and short-term mutual fund net sales of $93 million . Net sales of short-term assets includes a $110 million purchase from a single institutional investor.

    
    Assets Under Management and Administration
    As at September 30, 2009

    (in millions of $)

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    Total AUA and AUM, including Bank Deposits                        65,387
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    AUM Activity, excluding Bank Deposits:
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    AUM at beginning of period                                        29,930
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    Gross additions                                                      648
    Gross redemptions                                                    462
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    Net additions                                                        186
    Change in market                                                   1,605
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                                                                      31,721
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    Dundee Securities managed accounts                                 1,923
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    September 30, 2009 AUM                                            33,644
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    AUM Breakdown:
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    Mutual funds                                                      24,182
    Closed end funds                                                     357
    Structured investment solutions                                      396
    High net worth accounts - Goodman Private Wealth                   1,629
    High net worth assets in other categories                           (378)
    High net worth accounts - Dundee Securities managed accounts       1,923
    Third party institutional                                          5,535
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                                                                      33,664
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    Dundee Bank of Canada, Bank Deposits                               6,823
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    Assets under Administration                                       24,920
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About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that oversees $65.4 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., [phone]; Media inquiries: Myra Reisler, Manager, Public Affairs, DundeeWealth Inc., [phone]