Dundee Bancorp Inc. reported a profit for the second quarter ended June 30. The financial services holding company, whose interests include wealth management and real estate, said investments in the real estate and resource sectors continued to show significant improvements in their operations.

Second-quarter profit was $4.2 million, or 16¢ a share. That compares with a loss of $3.1 million, or 12¢ a share, in the same period last year.

Revenues rose to $74 million in the latest quarter from $60.3 million in the prior-year period.

Dundee Wealth, the company’s 84%-owned financial service subsidiary also outperformed its previous year operating results.

Net earnings for the six months ended June 30, were $2 million compared with net earnings of $0.3 million in the same period of last year.

Dundee Wealth reported $184 million in net mutual fund sales for the first six months of 2002. Net sales of mutual funds during the three months ended June 30, were $132 million, an improvement of more than 150% over net sales in the first quarter of this year.

While global market conditions at the end of the second quarter caused some deterioration in the market value of assets, Dundee Wealth increased assets under management from $6.5 billion at Dec. 31, 2001 to over $6.7 billion at June 30.