The acquisition raises MUFG’s fund services AuA to approximately $165bn, servicing over 300 clients and 1000 funds.
“The acquisition is a clear indication of our strategy and commitment of growing as a premier fund administrator servicing the global investment industry,” said Tim Calveley, deputy CEO Mitsubishi UFJ Fund Services.
“As regulatory and investor pressures continue to rise, investment managers need a partner who has both a strong balance sheet and can provide a wide range of solutions to meet specific needs. With the backing of the fifth largest bank in the world by assets we are confident in our expanding capacity to deliver the global reach, range of service and security our clients require.”
“We are confident our clients will experience a smooth transition and will benefit from the strength and resources of MUFG, giving access to a range of additional services such as custody, securities lending and other banking services,” added Tom Davis, chairman of Meridian Holdings Limited, Meridian Group's holding company.
The transaction is subject to regulatory approvals.