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DST International’s HiPortfolio Reaches A$1.5 Trillion Funds under Management Milestone in Australia

  • 02 August, 2007 11:32

Achievement linked to culmination of decade-long initiatives and contribution to industry growth</p>
<p>Brisbane, 1 August, 2007 - DST International (“DSTi”), a leader in business solutions for the financial services industry, today announced that it has reached a milestone for the Australian funds management sector. The company’s HiPortfolio platform now administrates A$1.5 trillion in funds under administration on an annual basis.</p>
<p>For Ian Mathieson, DSTi’s CEO for Australia and New Zealand, this achievement reveals the significant contribution that the company has made to the local investment management sector.</p>
<p>“HiPortfolio was introduced to the Australian investment marketplace as a departmental solution for individual investment organisations and yet today could well be considered as an industry-wide mission critical system,” he said.</p>
<p>Since its inception in Australia, DST International has focused on teaming with its client base to introduce new developments from a business solution and infrastructure perspective, which it believes has contributed to the steady growth in the local investment sector.</p>
<p>DSTi worked closely with Australia’s first wave of Third Party Administrators (TPAs) during the 1990s to create an industry first – multiple administrators utilising a single administration platform.</p>
<p>Today many of Australia’s fund managers use DSTi’s HiPortfolio platform either directly or via the six licensed TPAs in operation.</p>
<p>“DSTi’s stunning achievement is a result of a series of decade-long initiatives,” Mathieson continued.</p>
<p>“In particular we established an innovative business-volume based licensing arrangement for Third Party Administrators operating within Australia; the highly successful Australian development and rollout of the next generation products, HiPortfolio/2 and then HiPortfolio/3; together with the establishment of the world’s first DSTi Advanced User Group.”</p>
<p>Today a core group of DSTi clients collectively contribute to a development pool as part of the Australian Advanced User Group initiative. The company dollar matches each client’s investment and allows the client base to drive the functionality priorities for HiPortfolio. Over the past decade major initiatives include extensions of HiPortfolio’s core modularity including, unit pricing, auditing, data reporting objects, reconciliation capabilities, Y2K compliance, mortgage-back processing, multi-currency facilities, cash processing, global taxation requirements, web-based capabilities and localisation for the United States and Chinese investment sectors.</p>
<p>“We believe that our industry partnership approach has been crucial not only to our growth but evidently the success of the Australian investment market as well,” he said. “With a raft of government reforms, and an ongoing focus on a superannuation-funded retirement, we believe that inflows will continue to increase for many fund managers and TPAs,” he concluded.</p>
<p>About DST International (DSTi)</p>
<p>With 19 offices and over 1700 professionals to support its growing client base, DST International provides a unique and comprehensive range of investment management and business process management software solutions and related services to 700 clients in 55 countries.</p>
<p>About DST Systems, Inc.</p>
<p>DST Systems, Inc. provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, insurance and healthcare industries. In addition to technology products and services, DST provides integrated print and electronic statement and billing output solutions through a wholly owned subsidiary. DST’s world-class data centers provide technology infrastructure support for mutual fund companies, healthcare providers, banks, mortgage bankers and insurance companies around the globe. DST is headquartered in Kansas City, Missouri, and is a publicly traded company on the New York Stock Exchange.</p>
<p>For further information please contact:</p>
<p>Cathryn van der Walt</p>
<p>12 Worlds</p>
<p>0402 327 633</p>

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