The Canadian wealth management firm DundeeWealth has posted total revenue earning fiduciary assets of C$81.9 billion ($84.2 billion) as of February 28, in what media reports say could be the result of Bank of Nova Scotia's recent purchase of the company.

The Toronto-based firm saw 3.6 per cent growth in assets under management to C$48.8 billion, which includes total mutual fund net sales of C$581 million. At the start of the current quarter, DundeeWealth recorded C$44.86 billion in AUM, with high net worth accounts responsible for C$1.96 billion and third-party institutional accounts accounting for C$369 million.

The report of the windfall came after Bank of Nova Scotia decided to buy a 48 per cent share in the company for C$1.5 million in Scotia common and preferred shares. DundeeWealth is expected to see a yield of around C$50 million in annual dividends from the sale.