AUM growth of 4.5% for the month includes total mutual fund net sales of $489 million, which is comprised of long-term mutual fund net sales of $485 million and short-term mutual fund net sales of $4 million.
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Fee Earning Assets
As at March 31,2011
(in millions of $)
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AUM 50,942
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AUA 26,167
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Bank Deposits, Dundee Bank of Canada 7,134
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Total revenue earning fiduciary assets 84,243
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AUM Activity:
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AUM at beginning of period, excl. DWM Securities
and currency management accounts 46,442
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Gross additions 1,221
Gross redemptions 734
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Net additions 487
Change in market 177
AUM transfer 1,481
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48,587
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High net worth accounts - DWM Securities managed
accounts 1,987
Third party institutional - active currency
management accounts 368
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Total AUM 50,942
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AUM Breakdown:
Mutual funds 37,655
Closed end funds 142
High net worth accounts - DundeeWealth Investment Counsel 2,434
High net worth assets in other categories (538)
High net worth accounts - DWM Securities managed accounts 1,987
Third party institutional 8,894(1)
Third party institutional - active currency management
accounts 368
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Total AUM 50,942
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(1) Includes AUM transferred from Scotia Asset Management L.P.
>>About DundeeWealth Inc.DundeeWealth is a wholly owned subsidiary of Scotiabank and part of the Bank's Global Wealth Management division, with $84.2 billion in fee earning assets. It provides diversified wealth and investment management solutions, which include alternative and tax-advantaged products and advisory services, to financial advisors, institutions, corporations and foundations. It supports innovative wealth management through a network of independent financial advisors who operate under the DundeeWealth brand across Canada. Its award winning family of mutual funds and hedge funds, 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.
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