DundeeWealth(R) Reports April 2010 Fee Earning Assets of $73.3 Billion, $257
Million in Net Sales and 2.3% Growth in AUM

TORONTO, May 3 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at April 30, 2010 of $73.3 billion. This includes $39.7 billion in assets under management ("AUM"), $7.5 billion in Bank Deposits from Dundee Bank of Canada and $26.2 billion in assets under administration ("AUA")(1).

Change in AUM for the month includes long-term mutual fund net sales of $266 million and short-term mutual fund net redemptions of $16 million.

    
    Fee Earning Assets

    As at April 30, 2010
    (in millions of $)

    -------------------------------------------------------------------------
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    AUM                                                               39,663
    AUA                                                               26,153
    Bank Deposits, Dundee Bank of Canada                               7,469
    -------------------------------------------------------------------------
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    Total revenue earning fiduciary assets                            73,285
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    AUM Activity:
    -------------
    AUM at beginning of period, excluding Dundee Securities
     managed accounts                                                 36,595
    -------------------------------------------------------------------------
    Gross additions                                                      706
    Gross redemptions                                                    449
    -------------------------------------------------------------------------
    Net additions                                                        257
    Change in market                                                     591
    -------------------------------------------------------------------------
                                                                      37,443
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    High net worth accounts - Dundee Securities managed accounts       2,220
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Total AUM                                                         39,663
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    AUM Breakdown:
    --------------
    Mutual funds                                                      29,529
    Closed end funds                                                     212
    Structured investment solutions                                      257
    High net worth accounts - Goodman Private Wealth                   1,896
    High net worth assets in other categories                           (442)
    High net worth accounts - Dundee Securities managed accounts       2,220
    Third party institutional                                          5,991
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Total AUM                                                         39,663
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    

About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that currently oversees $73.3 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).

(1) Due to rounding, figures may not add to total shown.

SOURCE DUNDEEWEALTH INC.

For further information: 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

Organization Profile

DUNDEEWEALTH INC.

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