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

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

Rating:American Century to Outsource TA Functions Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, November 16, 2000

American Century to Outsource TA Functions

Reported by Tamiko Toland

American Century has joined the ranks of fund companies turning to back office outsourcing. The company's switch to DST's transfer agent platform gives the company the option of adding loaded shares or a multi-class structure to its seventy offerings.

"The added flexibility opens the door for the potential of different types of relationships," said American Century spokesman Chris Doyle, stressing that nothing is presently in the works. In fact, $40 billion of the company's $110 billion in investments is sold through intermediaries.

More importantly, however, the company is now on the same technological page as JP Morgan, which has an option to purchase a controlling stake in the fund firm. "We have a major strategic partner that's on the DST platform," confirmed Doyle.

By adopting the new system, American Century frees resources that had been dedicated to maintaining its proprietary system.

"You make a decision: do you want to be in the TA business or the investment business?" Doyle posited, echoing the sentiment of many companies. Approximately 900 employees presently working in account services and investor relations will continue doing so. "The changeover has had zero impact on staffing numbers," asserted Doyle. Nonetheless, he explained that about sixty IT employees are now available to work on further developing the company's internet presence.  

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

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q4Q3Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use