Mitsubishi UFJ Fund Services ties up Meridian acquisition

03 June 2014   Category: News, Asia, Global, Japan   By Daniel Shane

Asset administrator Mitsubishi UFJ Fund Services (MUFJ) has completed its acquisition of Meridian Fund Services Group (Meridian).

The takeover of Bermuda-based Meridian will increase assets under administration (AUA) at MUFJ’s parent group Mitsubishi UFJ Financial Group to approximately US$165 billion. Financial details of the transaction were not disclosed.

Meridian provides middle and back office services including portfolio accounting, trade reconciliation and net asset value calculation, as well as investor servicing and other fund governance and compliance products.

“Meridian is an important addition to our business as we continue to expand, both organically and through acquisitions,” commented Tim Calveley, deputy CEO, MUFJ, in a statement. 

“We will continue to develop the range of services we offer to the global investment industry and, with the backing of the fifth largest bank in the world by assets, are perfectly placed to offer the complex solutions that clients require in a challenging regulatory landscape.”

MUFJ provides fund administration and investor services to hedge funds, private equity, mutual funds and family offices, among others.

It is a wholly-owned subsidiary of Mitsubishi UFJ Trust and Banking Corporation, which itself is part of Mitsubishi UFJ Financial Group, which has US$2.4 trillion in AUM.