Updating Dundeewealth Inc., 20-20 Technologies Inc. and Delphi Energy

Article Excerpt

DUNDEEWEALTH INC. $14.33 (Toronto symbol DW; SI Rating: Speculative) (1-800-301-6745; www.dundeewealth.com; Shares outstanding: 119.0 million; Market cap: $1.7 billion) has completed its purchase of a 60% interest in Toronto-based pension fund manager Aurion Capital Management. DundeeWealth paid $6.5 million in cash and 1.4 million in shares for a total of $26 million. Aurion employees will retain 40% of the company. A portion of the payment (35%) will be withheld for three years to ensure the retention of key Aurion employees. DundeeWealth has also acquired an 89% interest in BHR Fund Advisors, a Philadelphia-based mutual fund manager and distributor, for an undisclosed amount of cash. BHR management will retain the remaining 11%. The two purchases broaden DundeeWealth’s investment management capabilities, and diversify its sales distribution network. DundeeWealth provides investment management, securities brokerage, financial planning and investment advisory services. Excluding Aurion’s assets, DundeeWealth manages $63.1 billion worth of assets. DundeeWealth is still a hold. 20-20 TECHNOLOGIES INC. $4.50 (Toronto symbol TWT; SI Rating: Speculative) (514-332-4112; www.2020technologies.com;…