Mitsubishi UFJ Fund Services is launching a loan asset-servicing offering.
The company will provide a suite of services for administration of syndicated loan portfolios using Markit’s Wall Street Office (WSO) software.
The new partnership will enable Mitsubishi UFJ Fund Services to service all trade and portfolio management activity, freeing up asset managers to focus on selecting loans. Plus, clients will no longer need to maintain the infrastructure and specialist team required to administer loan portfolios.
Specifically, the offering includes portfolio management services with web access to real-time position and performance information; cash and position reconciliation services; trade settlement services managed by a dedicated team at Markit using Markit Clear (Markit’s electronic trade processing platform for settlement of syndicated loan trades); independent verification of both open and closed positions; loan data services that manage the high volume of corporate actions information characteristic of syndicated loans; and an electronic filing cabinet containing trade documentation, credit agreements and agent notices providing a hosted system for retrieving documents required for audits and compliance.
Ken McCarney, COO, Mitsubishi UFJ Fund Services, says: “We are first to market with a comprehensive solution that allows clients to trade loans without the need for additional people or systems in their operational teams. The introduction of this solution is a part of our wider development strategy as we seek to grow our business and the range of services we provide to the global investment industry.”
Mark Schultis, managing director at Markit, says: “Mitsubishi UFJ Fund Services is deploying an extremely comprehensive set of loan asset services. This offering makes it straightforward for asset managers to invest in syndicated loans while managing their operations with maximum efficiency.”
MUFJ to Provide Asset Servicing for Syndicated Loans
Mitsubishi UFJ Fund Services is launching a loan asset-servicing offering. The company will provide a suite of services for administration of syndicated loan portfolios using Markit’s Wall Street Office (WSO) software.