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 |
|
Thursday, July 20, 2006 Putnam Will Send Out its TA Efforts DST has landed a plum mandate for its transfer agency business. The Kansas City-based firm inked a deal with to handle Putnam Investments mutual fund business during the first quarter of this year, according to a published report. The size of the deal was not released, but DST had disclosed earlier that it had commitments for 7.8 million new fund accounts inked prior to April. Word of the signing was first reported by The Kansas City Star on Wednesday. DST is expected to release its second quarter earnings report later today. Earlier this year DST officials said they had won 22 million in new accounts for their TA platform while losing one unidentified client with 2 million accounts. All counted, DST now handles transfer agenvy work for 103.5 million fund accounts. It is reportedly making bids on potential contracts that would involve 15 million shareholder accounts. Putnam currently handles the transfer agency work internally. It will continue to use its own employees to handle the efforts, but will convert its systems over to those run by DST sometime next year. Printed from: MFWire.com/story.asp?s=12287 Copyright 2006, InvestmentWires, Inc. All Rights Reserved |