MUFG Investor Services has issued a press release that can only be described, at best, as economical with the truth. In announcing that AuA has surpassed USD1trn, MUFG claims that it is a “global leader” in asset servicing and one of the largest fund administrators in the world, neither of which stands up to scrutiny. Further, it points to its “significant organic growth” since its formation in 2013, claiming that the rise in the “AuA number reflects a unique organic growth story… not through company acquisitions”. In fact, MUFG has made a string of acquisitions that date back to 2013, including Butterfield Fulcrum (2013), Meridian Fund Services (2014), UBS Alternative Fund Services (2015), Capital Analytics (2016), Rydex (2016), and Maitland’s private equity and hedge fund business (2019).
