Dundee Wealth Management, a Toronto-based asset manager with a large private client business, reported a C$191 million ($166.4 million) outf...

Dundee Wealth Management, a Toronto-based asset manager with a large private client business, reported a C$191 million ($166.4 million) outflow in assets under management in one of its major high net worth businesses in 2005. The Toronto-based asset manager reported a 33 per cent rise in total AUMs to C$19.3 billion in 2005, but $16 billion of this was in the retail sector. Net new money at Goodman & Company, a division of Dundee Wealth, the firm’s high net worth business, grew by C$1.9 billion in 2005, according to the firm, but excluding this, as well as the HNW securities business, Dundee Wealth saw an outflow of C$191 million.