MUFG Investor Services, the asset servicing unit of Japan’s Mitsubishi UFJ Financial Group, has completed the acquisition UBS Global Asset Management’s alternative fund services (AFS) business following the receipt of all regulatory approvals.
The deal will boost MUFG Investor Services’ total assets under administration to $266bn across 2,300 funds.
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The acquisition is part of the MUFJ Investor Services strategy to build a global fund administrator.
Mitsubishi UFJ Trust and Banking Corporation group head of trust assets business group and deputy president Junichi Okamoto 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.
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By GlobalData"We will be announcing further developments, aimed at enhancing our client and market proposition over the coming months."
