Mitsubishi UFJ Financial Group Inc. said it and Mellon Financial Corp. have jointly set up a Japanese equity-investment trust for overseas investors.
According to the WSJ, MUFG’s trust-bank unit, Mitsubishi UFJ Trust & Banking, and Mellon launched Mellon Japan Equity Value Fund 30 November. A Mellon subsidiary, Mellon Global Investments, is selling the investment trust to international investors, according to the report. A UK asset-management unit of MUFG manages the fund and aims to outperform the Topix index by 2% a year.