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 |
|
Tuesday, February 7, 2012 8.4 Million Subaccounts Will Leave DST Soon 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. Printed from: MFWire.com/story.asp?s=39110 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |