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Rating:DST Lands 5.5 Million Fund Shareholder Accounts Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, July 27, 2004

DST Lands 5.5 Million Fund Shareholder Accounts

by: Theresa Sim

2004 has been good to DST Systems. Tom McDonnell, president and chief executive officer of the fund services provider, said the company landed two fund processing contracts worth 5.5 million shareholder accounts in an earnings call last week.

The business wins increase the number of shareholder accounts that DST processes by six percent. The company processed $90.8 million fund shareholder accounts at the end of June.

The company will start realizing revenue on the two accounts in mid-2005, said McDonnell.

Also in the pipeline are 15 fund company contracts totaling 17 to 19 million shareholder accounts, said McDonnell. Half of those requests for proposals may be decided by the end of this year, he added. 

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