MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, April 22, 2010 DST Adds a Million Mutual Fund Accounts DST net added one million mutual fund shareowner accounts in the first quarter of 2010, thanks largely to a 3.9 million increase in the number of mutual fund subaccounts it works with. That's one of the tidbits the Kansas City, Missouri-based firm revealed yesterday in its Q1 2010 earnings report. Of the increase in subaccounts, 3.4 million came from conversions from DST's registered mutual fund shareowner accounts. Meanwhile, DST's companywide layoff plan is underway. In February DST confirmed that it plans to eliminate seven percent of its workforce this year, saving $67 million and paying out $21 million in termination benefits. By the end of Q1, DST had completed half of those layoffs. It's not clear how the layoffs impact its financial services unit, which includes the mutual fund account business. Printed from: MFWire.com/story.asp?s=31989 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |