DundeeWealth(TM) reports November 2009 fee earning assets of $67.3 billion,
$358 million in net sales and 5.0% growth in AUM

TORONTO , Dec. 1 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at November 30, 2009 of $67.3 billion . This includes $35.0 billion in assets under management ("AUM"), $7.2 billion in Bank Deposits from Dundee Bank of Canada and $25.2 billion in assets under administration ("AUA").

Net sales of $358 million , which is DundeeWealth's highest monthly net sales of the year, includes long-term mutual fund net sales of $344 million and also includes short-term mutual fund net redemptions of $22 million .

As of November 30, 2009 , DundeeWealth had $7.0 billion in AUM subject to performance fees. Based on market conditions at November 30, 2009 , unrecognized net performance fees, before tax, would be approximately $16.1 million (1).

    
    Assets Under Management and Administration
    As at November 30, 2009
    (in millions of $)

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    Total AUA and AUM, including Bank Deposits                        67,347
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    AUM Activity, excluding Bank Deposits:
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    AUM at beginning of period                                        31,400
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    Gross additions                                                      664
    Gross redemptions                                                    306
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    Net additions                                                        358
    Change in market                                                   1,236
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                                                                      32,994
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    Dundee Securities managed accounts                                 1,999
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    November 30, 2009 AUM                                             34,993
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    AUM Breakdown:
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    Mutual funds                                                      25,314
    Closed end funds                                                     361
    Structured investment solutions                                      396
    High net worth accounts - Goodman Private Wealth                   1,684
    High net worth assets in other categories                           (393)
    High net worth accounts - Dundee Securities managed accounts       1,999
    Third party institutional                                          5,632
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                                                                      34,993
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    Dundee Bank of Canada, Bank Deposits                               7,199
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    Assets under Administration                                       25,155
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About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that oversees $67.3 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(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).

    
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    (1) Performance fees are generally determined on December 31 of each
        year, and are only included in earnings when the amount of
        performance fees earned can be determined with certainty. Performance
        fees are impacted by capital market forces and therefore variances to
        this amount on a period by period basis may be significant.
    

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