Global asset administrator Mitsubishi UFJ Fund Services is to launch a loan asset servicing offering.
The firm will provide a suite of services for administration of syndicated loan portfolios, servicing all trade and portfolio management activity, allowing asset managers to focus on their core role of selecting loans.
The services also eliminate the need for clients to maintain the considerable infrastructure and specialist team required to administer loan portfolios, it said.
The demand for asset servicing solutions for syndicated loans has grown over the past year, as total volume for loans increased by 29 per cent to $4.2tn in 2013, the strongest annual period for lending since 2007.
Ken McCarney, COO, Mitsubishi UFJ Fund Services, said, “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.”
Mitsubishi UFJ Fund Services is part of Mitsubishi UFJ Financial Group; the fifth largest bank in the world with $2.4tn in assets.
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