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Mutual funds have been and are still one of the leading
investment vehicles for both individuals and institutions. Looking back
over the past decade, the industry’s growth has been truly explosive.
By 2004, over 91 million Americans, representing almost half of all U.S.
households (53.3 million), owned mutual fund shares, compared with 38
million Americans in the early 1990s or 27 million U.S. households.
According to the Investment Company Institute, (ICI) mutual fund assets
under management soared to over $8 trillion by year-end 2004, from approximately
$2 trillion only a decade ago (1993).
Over the past last ten years, annual mutual fund sales grew approximately
five times to $13.2 trillion. Investing in mutual funds used to be a paper-intensive,
costly, manual process.
MSCS saw the need for enhancing connectivity between manufacturers of
financial products and their distributors about the time when DTCC was
formed, and was one of the first adopters of DCCS’ technology. Since
then, MSCS’ tradition of innovation
and single-minded focus has been met with unparalleled success. Click
here
to read an interview between “Mutual Fund News” and MSCS’
Vice President, Jamie DeRubertis titled, “DCC&S User Matrix
Settlement & Clearance Services, LLC Talks about Its Business and
Views on the Current State of the Funds Industry.”
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