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Rating:DST Adds 1.4 Million Mutual Fund Accounts Not Rated 1.0 Email Routing List Email & Route  Print Print
Thursday, October 22, 2009

DST Adds 1.4 Million Mutual Fund Accounts

Reported by Daniel Tovrov

Fund administration company DST Systems reported its Q3 earnings today, noting a slight drop in mutual fund shareowner processing service revenue. Even with fund companies still hurting despite the slight market upturn in recent months, as the latest batch of third quarter earnings results shows, DST has managed to keep the number of accounts they serve stable.

DST's total mutual fund shareowner accounts serviced increased by 1.4 million accounts from 118.9 million to 120.3 million between the June 30 and September 30. Registered accounts, however, dropped from 112.5 million on September 30, 2008 to 109.7 million on September 30, 2009. (This is still an increase of 0.3 million between Q3 and Q2.) DST had 10.6 million subaccounts serviced on September 30, 2009, an increase from 9.4 million in Q3 2008.

Additionally, DST anticipates that 300,000 new registered accounts will convert to TA2000 in the fourth quarter of 2009. 

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