The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:DST Adds a Million Mutual Fund Accounts Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 22, 2010

DST Adds a Million Mutual Fund Accounts

Reported by Neil Anderson, Managing Editor

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. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use