DundeeWealth Inc.
TSX : DW

DundeeWealth Inc.

November 06, 2007 17:31 ET

DundeeWealth Reports October 2007 Assets of $61.8 Billion

TORONTO, ONTARIO--(Marketwire - Nov. 6, 2007) - DundeeWealth Inc. (TSX:DW) reported total revenue earning fiduciary assets at October 31, 2007 of $61.8 billion.



Assets Under Management and Administration
As at October 31, 2007

(in millions of $)

Assets Under Management (AUM) 28,638
Assets Under Administration (AUA) 33,150
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Total AUM and AUA 61,788
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AUM Activity:
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AUM at beginning of period 27,675
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Gross additions 707
Gross redemptions 250
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Net additions 457
Change in market 923
Restructuring of structured financial asset conduit (2,051)
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27,004
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Dundee Securities managed accounts 1,634
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October 31, 2007 AUM 28,638
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AUM Breakdown:
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Mutual funds 23,418
Closed end funds 642
Structured investment solutions 700
High net worth accounts - Goodman Private Wealth 1,677
High net worth assets in other categories (435)
High net worth accounts - Dundee Securities managed accounts 1,634
Third party funds 1,002
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28,638
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As a result of Skeena Capital Trust's announcement of their restructuring, AUM have been reduced by $2.1 billion. On September 28th the company sold its banking division, The Dundee Bank of Canada, resulting in the elimination of the bank's deposits of $2.5 billion from the Company's AUM and AUA. The Company continues to administer bank client deposits of $2.5 billion in Dundee Bank of Canada. The results also include approximately $100 million of gross additions as part of one corporate client's cash management.

DundeeWealth is a Canadian owned, diversified wealth management company. Through its various subsidiaries, DundeeWealth creates innovative asset management, alternative investments and provides investment solutions. In addition, DundeeWealth provides capital markets and advisory services to financial advisors, institutions, corporations and foundations, and provides retail banking services through financial advisors. DundeeWealth oversees $61.8 billion in assets under management and administration through independent financial advisors across Canada. It is listed on the Toronto Stock Exchange (TSX:DW).

Contact Information

  • DundeeWealth Inc.
    David Goodman
    President and CEO
    (416) 365-2571
    or
    DundeeWealth Inc.
    Joanne Ferstman
    Chief Financial Officer
    (416) 365-5010