MUFG Investor Services launches new solution for mutual funds
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MUFG Investor Services launches new solution for mutual funds 13 November 2020US Reporter: Maddie Saghir
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MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has launched cNAV, a new proprietary contingent net asset value solution for mutual funds.
The technology, which runs independently of MUFG’s core accounting system, aims to provide seamless continuity if there is an outage of the primary daily net asset value (NAV) production process.
To develop the cNAV, MUFG used its business as usual data and existing workflows, to operate a parallel calculation independent of existing infrastructure.
MUFG can calculate NAVs daily and bundle the cNAV product within its current service offering.
Michael Rucci, president and CEO (MFS USA) at MUFG Investor Services, said: “With the development of this internal contingent NAV technology, we are able to provide our clients with a sophisticated and accurate level of business continuity, eliminating the need to go to a third-party provider for this peace of mind.”
“Incorporating this new, independent system into our standard offering demonstrates our continued commitment to protect our clients with innovative safeguards,” Rucci added.
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