MUFJ completes acquisition of UBS alternatives service
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MUFJ completes acquisition of UBS alternatives service 14 December 2015New York Reporter: Stephanie Palmer
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MUFG Investor Services has completed its acquisition of UBS Asset Management’s alternative fund services (AFS) business after gaining all the relevant regulatory approvals.
The acquisition is part of the MUFJ Investor Services strategy to build a global fund administrator, and brings its total assets under administration to $266 billion, spread across 2,300 funds.
Junichi Okamoto, group head of trust assets business group, and deputy president of MUFJ Trust and Banking Corporation, said: “AFS is a strategic addition to our business and demonstrates our commitment and ambitions within the fund administration industry. MUFG Investor Services is committed to supporting clients throughout the investment lifecycle by taking a partnership driven approach, underpinned by technological innovation.”
“The asset servicing and specifically fund administration landscape is changing significantly under the pressure of increased demands from regulators, managers and investors. As part of one of the largest banks in the world, with $2.4 trillion in assets, we are in an excellent position to offer the complex solutions that clients require to continually meet these challenges.”
MUFJ is also planning to announce further developments outlining improvements to its client and market propositions.
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