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
    -------------------------------------------------------------------------

    AUM Activity, excluding Bank Deposits
    -------------------------------------
    AUM at beginning of period                                        34,028
    -------------------------------------------------------------------------
    Gross additions                                                    1,090
    Gross redemptions                                                    683
    -------------------------------------------------------------------------
    Net additions                                                        407
    Change in market                                                    (957)
    -------------------------------------------------------------------------
                                                                      33,478
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Dundee Securities managed accounts                                 2,036
    -------------------------------------------------------------------------
    January 31, 2010 AUM                                              35,514
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    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
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                                                                      35,514
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Dundee Bank of Canada, Bank Deposits                               7,373
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Assets under Administration                                       24,968
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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).

For further information: Investor/Analyst inquiries: John Pereira, Chief Financial Officer, DundeeWealth Inc., [phone]; Media inquiries: Myra Reisler, Manager, Public Affairs, DundeeWealth Inc., [phone]