Money Management Executive

Stillwell Financial Is Spun Off from Kansas City Southern

Published July 17, 2000, 1:00 a.m. EDT

1 Min Read

Stillwell Financial began trading independently of Kansas City Southern Industries of Kansas City, Mo. on July 12.

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The four companies to comprise Stillwell Financial include mutual fund companies Janus and Berger Associates, both of Denver, as well as DST Systems, a financial data processing firm in Kansas City and Nelson Money Managers of London.

The market did not respond enthusiastically to the spin-off, which has been surrounded by controversy as Janus has objected to being spun-off with others of Kansas City Southern's financial services businesses. Stillwell, which began trading on a "when-issued" basis on the New York Stock Exchange (under the symbol SV) on June 26 at $36.75, opened July 12 at a 52-week high of $48 and closed at $45.25. Kansas City Southern (KSU) also reached a 52-week high of $95.75 during the day and closed at $93.75.

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Money Management Executive

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