INVESTMENT PROCESS Dundee Wealth Management includes Dundee

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INVESTMENT PROCESS
Dundee Wealth Management includes Dundee
Securities Corporation, Dundee Private Investors
Inc., Dundee Private Investors Ltd., Dundee
Insurance Agency Ltd., Dundee Mortgage Services
Inc., Dundee Bank of Canada
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Dundee Wealth Management (TSX DW)Strength
Diversification

• Dundee Wealth Management is one of Canadas
  leading independent wealth management, capital
  markets, advisory service firm that owns and
  operates a Canadian chartered bank.

• Corporate Snapshot
• 61.3 billion in combined AUA and AUM1
• 1.59 billion market cap2
• Revenue 12 months ending Dec. 2006 894.8
  million
• 1,700 Advisors in over 600 locations across
  Canada
• Established 50 years ago through a series of
  predecessor companies
• TSX Symbol DW
• 1 As at March 31, 2007
• 2 As at April 25, 2007

• Dundee Wealth Management has two core businesses
• Investment Counsel to manage money
• Goodman Company Limited
• Dynamic Funds
• Financial Advisory to provide financial and
  investment advice to individual investors,
  institutional investors, corporations and
  charitable foundations.
• Dundee Securities Corporation
• Dundee Private Investors Inc.
• Dundee Private Investors Ltd. (Quebec)
• Dundee Insurance Agency
• Dundee Mortgage Services Inc.
• Dundee Bank of Canada

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Dundee Wealth Management Strength
Diversification
CAPITAL MARKETS INSTITUTIONAL SALES
TRADING EQUITY RESEARCH PRO TRADING STRUCTURED
PRODUCTS SECURITIZATION FIXED
INCOME INVESTMENT BANKING RISK
MANAGEMENT STRUCTURED CREDIT CDO
MANAGEMENT ALTERNATIVE INVESTMENTS
WEALTH MANAGEMENT WEALTH PLANNING COMPREHENSIVE
INVESTMENT ADVICE TAX ESTATE
PLANNING MANAGED ACCOUNT PROGRAMS STOCKS, BONDS
MUTUAL FUNDS ALTERNATIVE INVESTMENTS TAX
ADVANTAGED INVESTING STOCK OPTION EXERCISE
PROGRAMS CONCENTRATED STOCK MANAGEMENT
STRATEGIES LIFE INSURANCE LIVING BENEFITS
BANKING INVESTMENT SAVINGS ACCOUNTS GICs RESID
ENTIAL MORTGAGES RRSP LOANS
Dundee Wealth provides a diverse range of
innovative products and advisory services to
corporate, institutional and private clients
across Canada
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Dundee Wealth Management Strength
Diversification
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Frost Financial TeamInvestment Process
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Dundee Wealth Management Financial Advisory
Private Client Group
The Investment Process Set Goals and Objectives
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Dundee Wealth Management Financial Advisory
Wealth Management Group
The Investment Process

• Construct an Investment Policy Statement
• Summary document used as foundation for clients
  investment decisions
• Describes the objectives of portfolio, investment
  guidelines and targets appropriate asset
  allocation and any investment constraints

Aggressive
Growth
Balanced Growth
Return
Balanced
Conservative
Defensive
Risk (measured as standard deviation/volatility)
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Dundee Wealth Management Financial Advisory
Wealth Management Group
The Investment Process

• Investment Selection
• Criteria for selection includes
• Quantitative Analysis
• Focus on consistency of returns, value added vs.
  benchmarks, level of diversification and
  adherence to investment style
• Qualitative Analysis
• Focus on Investment Managers investment
  philosophy, risk management, proficiency of its
  people and management, process and code of ethics
• Recommend a customized portfolio that adheres to
  your
• Investment Policy Statement
• Strategic asset allocation
• Multi-dimensional diversification

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Dundee Wealth Management Financial Advisory
Wealth Management Group
The Investment Process

• Diversification
• Diversification reduces portfolio volatility
  without reducing return
• Diversify by geography, asset class and
  investment management style

Source Brinson, Singer, Beebower, Financial
Analysts Journal 1991
Source MSCI World Equity Benchmark As at
October 2006
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Dundee Wealth Management Financial Advisory
Wealth Management Group
The Investment Process

• Continuous Monitoring Due Diligence
• Monitor the events that shape our clients lives
  and their financial goals
• Study the trends and developments that shape the
  global investment environment, that drive our
  economy and ultimately effect your portfolios
  performance
• Quantitative and qualitative reviews look for
  signs of potential deterioration in performance
• Deviation from the investment mandate
• Consistent under performance
• Departure of key investment personnel from
  Investment Manager
• Merger or acquisition
• Our investment process forms a direct partnership
  with our clients, the lines of communication are
  always open

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Dundee Wealth Management Financial Advisory
Wealth Management Group

• As your Dundee Advisor, my role is to formulate
  and implement strategies that address your needs.

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Dundee Wealth Management Financial Advisory
Wealth Management Group
Consistent philosophy, consistent process,
consistent results

• We create unique, life-planning partnerships with
  our clients that respond to changes as events in
  your life change. Our business model is founded
  on our belief that each client is unique.  We
  truly listen to our clients so that we can fully
  understand where you are and where you want to be
  in the future.  To help you establish goals and
  objectives, it is important that we understand
  you, your corporate culture, budget, and history,
  along with all the distinctive elements that make
  you unique
• Whether you are saving for your child's
  education, planning your own retirement or
  preserving your estate for your heirs, ongoing
  communication ensures our ability to adjust your
  portfolio as circumstances in your life may
  require