MUFG buys UBS fund service business

MUFG Investor Services has completed its purchase of UBS’ alternative fund service (AFS) business having received all regulatory approval.

The acquisition is part of a wider strategy for MUFG investor services, the global asset servicing branch of Mitsubishi UFJ Financial Group, to produce a global fund administrator.

With its latest acquisition of AFS, MUFG now holds total assets under administration of $266 billion across 2,300 funds.

Junichi Okamoto, group head of trust assets business group, deputy president, Mitsubishi UFJ Trust and Banking Corporation spoke about the acquisition as well as the long term plans of MUFG investor services.

“AFS is a strategic addition to our business and demonstrates our commitment and ambitions within the fund administration industry.

“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 we are in an excellent position to offer the complex solutions that clients require.”