DundeeWealth(TM) reports January 2010 fee earning assets of $67.9 billion and
$407 million in net sales

TORONTO, Feb. 2 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at January 31, 2010 of $67.9 billion. This includes $35.5 billion in assets under management ("AUM"), $7.4 billion in Bank Deposits from Dundee Bank of Canada and $25.0 billion in assets under administration ("AUA").

    
    Assets Under Management and Administration
    As at January 31, 2010
    (in millions of $)

    -------------------------------------------------------------------------
    Total AUA and AUM, including Bank Deposits                        67,855
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    AUM Activity, excluding Bank Deposits
    -------------------------------------
    AUM at beginning of period                                        34,028
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    Gross additions                                                    1,090
    Gross redemptions                                                    683
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    Net additions                                                        407
    Change in market                                                    (957)
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                                                                      33,478
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    Dundee Securities managed accounts                                 2,036
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    January 31, 2010 AUM                                              35,514
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    AUM Breakdown
    -------------
    Mutual funds                                                      26,036
    Closed end funds                                                     355
    Structured investment solutions                                      218
    High net worth accounts - Goodman Private Wealth                   1,695
    High net worth assets in other categories                           (409)
    High net worth accounts - Dundee Securities managed accounts       2,036
    Third party institutional                                          5,583
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                                                                      35,514
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    -------------------------------------------------------------------------
    Dundee Bank of Canada, Bank Deposits                               7,373
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    Assets under Administration                                       24,968
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    Note: Our long-term mutual fund net sales, as reported to the Investment
    Funds Institute of Canada ("IFIC"), are $645.5 million. This amount
    includes $300 million relating to the rollover of assets of certain of
    the Company's flow-through limited partnerships into our mutual funds.
    Limited partnership additions and redemptions are not reported by IFIC.
    In addition to the rollover transaction, we had net sales of $62 million
    into products not reported by IFIC, which include hedge funds,
    institutional accounts, flow-through limited partnerships and high net
    worth accounts.
    

About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that oversees $67.9 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).

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

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DUNDEEWEALTH INC.

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