New Technology Expected to Launch By Year's End
Now that mutual fund companies are entering the separately managed account segment of the industry, so too is mutual fund service provider DST Systems. The company announced today that it is planning to launch a product called Managed Account Platform (MAP) in the fourth quarter of this year.
'Many of our mutual fund clients have or are looking into offering separately managed accounts,' said Jim Horan, director of international technology at DST. 'Many of them have asked us to provide managed account solutions, like we do with mutual funds.'
The new platform, the development of which began about a year ago, is an adaptation of existing systems DST has developed to service institutional and high-net-worth money management, Horan said.
MAP will provide internal portfolio accounting, such as performance measurements and model asset allocations and managers will have the ability to set allocation sensitivity limits and place trades, according to Horan. The service will also provide back-office administrative services, such as shareholder accounting and customer contact and documentation, he said.
DST would not disclose the identity of its first MAP client, but said the unnamed company is currently testing the product. DST is expected to move MAP into full production by Nov. 1, Horan said.