Capital Group Bites Bullet; Buys Off-the-Shelf From DST

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Los Angeles-based Capital Group Inc. has selected DST Belvedere Inc.'s Global Portfolio System (GPS) as the core accounting engine for its investment management operations worldwide. Capital Group has purchased the GPS accounting engine, along with its accompanying applications programming interface, to support over 500 users in its mutual fund, institutional and trust accounting units. By so doing, the firm has scrapped its earlier ambitions to allow Andersen Consulting Inc.--its long-time