A global asset servicing unit of Mitsubishi UFJ Financial, MUFG Investor Services, has acquired UBS Asset Management's Alternative Fund Services (AFS) for an undisclosed sum, though when the deal was first announced in the coming months, it was suggested MUFG may pay JPY 30bn ($245m) for AFS. This deal is part of MUFG's ongoing strategy to build a global industry-leading fund administrator, with the acquisition reportedly more than doubling MUFG's total assets under administration to $266bn across 2,300 funds.
A global asset servicing unit of Mitsubishi UFJ Financial, MUFG Investor Services, has acquired UBS Asset Management's Alternative Fund Services (AFS) for an undisclosed sum, though when the deal was first announced in June, it was suggested MUFG may pay JPY 30bn ($245m) for AFS. This deal is part of MUFG's ongoing strategy to build a global industry-leading fund administrator, with the acquisition reportedly more than doubling MUFG's total assets under administration to $266bn across 2,300 funds.