DST Systems today revealed some sobering news for its mutual fund business [earnings call transcript].

Two clients affiliated with Bank of New York Mellon Corporation, a competitor of DST, previously informed the company that they intend to convert to BNYM’s in-house platform by mid-2012. These two clients comprise some 8.4 million subaccounts and 800,000 registered accounts, according to a company statement.

The firm ended 2011 with 85.1 million registered accounts and 99.7 subaccounts. 

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