- Published: 05 July 2010
- Written by Editor
DundeeWealth(R) Reports June 2010 Fee Earning Assets of $70.0 Billion and $440 Million in Total Net Sales
DundeeWealth Inc. ("DundeeWealth") (TSX: DW) reported total revenue earning fiduciary assets at June 30, 2010 of $70.0 billion. This includes $38.0 billion in assets under management ("AUM"), $7.2 billion in Bank Deposits from Dundee Bank of Canada and $24.8 billion in assets under administration ("AUA").
Change in AUM for the month includes total mutual fund net sales of $257 million, which is comprised of long-term mutual fund net sales of $270 million and short-term mutual fund net redemptions of $13 million.
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Fee Earning Assets
As at June 30, 2010
(in millions of $)
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AUM 38,049
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AUA 24,843
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Bank Deposits, Dundee Bank of Canada 7,150
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Total revenue earning fiduciary assets 70,042
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AUM Activity:
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AUM at beginning of period, excluding Dundee Securities
managed accounts 35,950
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Gross additions 874
Gross redemptions 434
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Net additions 440
Change in market (534)
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35,856
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High net worth accounts - Dundee Securities managed accounts 2,193
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Total AUM 38,049
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AUM Breakdown:
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Mutual funds 28,269
Closed end funds 211
Structured investment solutions 236
High net worth accounts - Goodman Private Wealth 1,860
High net worth assets in other categories (398)
High net worth accounts - Dundee Securities managed accounts 2,193
Third party institutional 5,678
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Total AUM 38,049
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About DundeeWealth Inc.
DundeeWealth is a Canadian owned, independent wealth management company that currently oversees $70.0 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).
SOURCE: DundeeWealth Inc.
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
