DundeeWealth(TM) reports year end 2009 fee-earning assets of $68.8 billion

Net sales of $2.6 billion , 42% growth in AUM and net performance fees of $21.7 million in 2009

TORONTO , Jan. 5 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") (TSX: DW) reported total revenue earning fiduciary assets at December 31, 2009 of $68.8 billion . This includes $36.1 billion in assets under management ("AUM"), which represents 42% year over year growth and an all time high in the Company's 50 year history, as well as $7.2 billion in Bank Deposits from Dundee Bank of Canada and $25.5 billion in assets under administration ("AUA"). For the 12 month period ended December 31, 2009 , DundeeWealth recorded gross sales of $6.5 billion and net sales of $2.6 billion .

Change in AUM for the month includes long-term mutual fund net sales of $288 million and short-term mutual fund net redemptions of $13 million .

DundeeWealth manages approximately $7.4 billion in performance fee-eligible assets as at December 31, 2009 . The Company earned approximately $21.7 million in performance fee revenues, net of third party allocations and costs (unaudited) for the year ended December 31, 2009 . These fees will be recorded in the Company's fourth quarter 2009 results. This does not include approximately $60 million in performance fee revenues, which the Company elected not to receive as a result of changes to the performance fee structure of certain hedge funds to ensure investors would not pay twice for the same performance.

    
    Assets Under Management and Administration
    As at December 31, 2009
    (in millions of $)

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    Total AUA and AUM, including Bank Deposits                        68,764
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                            For the one month and twelve month periods ended
                                                           December 31, 2009

                                               December 2009   Twelve Months
                                              --------------- ---------------

    AUM Activity, excluding Bank Deposits
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    AUM at beginning of period                        32,994          23,936
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    Gross additions                                      713           6,479
    Gross redemptions                                    374           3,838
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    Net additions                                        339           2,641
    Change in market                                     695           7,451
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                                                      34,028          34,028
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    Dundee Securities managed accounts                 2,052           2,052
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    December 31, 2009 AUM                             36,080          36,080
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    AUM Breakdown
    -------------
    Mutual funds                                                      26,198
    Closed end funds                                                     365
    Structured investment solutions                                      416
    High net worth accounts - Goodman Private Wealth                   1,720
    High net worth assets in other categories                           (412)
    High net worth accounts - Dundee Securities managed accounts       2,052
    Third party institutional                                          5,741
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                                                                      36,080
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    Dundee Bank of Canada, Bank Deposits                               7,201
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    Assets under Administration                                       25,483
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About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that oversees $68.8 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]