DundeeWealth Inc.

DundeeWealth Inc.

October 10, 2006 17:07 ET

Dundee Wealth Management Announces Plan to Convert Investment Management Division into an Income Trust

TORONTO, ONTARIO--(CCNMatthews - Oct. 10, 2006) - Dundee Wealth Management Inc. (TSX:DW) announced today that its Board of Directors has approved in principle a conversion of its investment management division, Goodman & Company, Investment Counsel Ltd. ("Goodman & Company"), into an income trust. It is intended that approximately 15% of Goodman & Company will be offered to the public by way of an Initial Public Offering. These transactions will be subject to the receipt of all necessary regulatory, stock exchange and third-party approvals. Management and the Board of Directors believe that an income trust structure would create benefits for shareholders of Dundee Wealth and offer a capital structure that is better suited to attract capital for future growth.

Goodman & Company, including Dynamic Funds™, is one of Canada's fastest growing investment firms, now managing more than $20 billion in retail and institutional assets. The company offers a wide range of wealth management solutions including mutual funds (Dynamic), portfolio solutions (Viscount and Marquis), limited partnerships (CMP and Canada Dominion), hedge funds, and high net-worth investment counsel.

Dundee Wealth is a Canadian owned, TSX listed, innovative wealth management company. Through its various subsidiaries, and through Dundee Bank of Canada, a schedule I chartered bank, Dundee Wealth creates and provides investment solutions as well as capital markets and advisory services for financial advisors, institutions, corporations and foundations. Dundee Wealth oversees $51.1 billion in assets under management and administration through independent financial advisors across Canada.

Contact Information

  • Goodman & Company, Investment Counsel Ltd.
    David Goodman
    President and CEO
    (416) 365-5168
    Dundee Wealth Management Inc.
    Joanne Ferstman
    Chief Financial Officer
    (416) 365-5010