Key Takeaways
- • MUFG Retirement Solutions, a division of MUFG Pension & Market Services, has secured a multi-year strategic partnership with Mercer New Zealand to provide registry administration and transaction processing for Mercer's suite of wholesale investment products.
- • The agreement, signed on 31 July 2024, replaces BNP Paribas as registry provider for Mercer Investment Trusts New Zealand, with MUFG expected to assume administrative responsibilities by mid-September 2024.
- • The win extends MUFG Retirement Solutions' registry transition activity in the APAC region, following its 2016 acquisition of Aon New Zealand's funds administration business.
- • MUFG's Capital software platform is used across KiwiSaver, managed funds, master trusts, workplace savings schemes and unit trusts in New Zealand, including for ANZ and AMP.
Summary
MUFG Retirement Solutions, a division of MUFG Pension & Market Services (formerly Link Group in Australia), has secured a strategic partnership with Mercer New Zealand to provide registry administration services for Mercer's wholesale investment products. Under the multi-year agreement, signed on 31 July, MUFG Retirement Solutions will take over registry administration and transaction processing for Mercer Investment Trusts New Zealand from BNP Paribas. The transition is expected to commence by mid-September.
The Mercer mandate is one of several registry transition deals completed by MUFG Retirement Solutions in recent years, particularly in the Asia-Pacific region. MUFG Pension & Market Services first commenced operations under the Link Market Services banner close to two decades ago in the listed products space, as a joint venture with the New Zealand Stock Exchange. Link Group was acquired by Mitsubishi UFJ Trust & Banking Corporation earlier in 2024 and rebranded as MUFG Pension & Market Services, which comprises two divisions: MUFG Retirement Solutions and MUFG Corporate Markets.
Marcelle Ashcroft, Managing Director at MUFG Retirement Solutions NZ, said the firm is "more committed than ever to growing our partnerships with clients and expanding our presence in the New Zealand market," describing the Mercer win as a "great win" and a chance to demonstrate its technology and administration capability.
The firm's New Zealand footprint was previously expanded through its 2016 acquisition of Aon New Zealand's funds administration business. Its flagship software solution, Capital, is now used across KiwiSaver, managed funds, master trusts, workplace savings schemes, unit trusts, and for clients including ANZ and AMP.
The Mercer mandate is one of several registry transition deals completed by MUFG Retirement Solutions in recent years, particularly in the Asia-Pacific region. MUFG Pension & Market Services first commenced operations under the Link Market Services banner close to two decades ago in the listed products space, as a joint venture with the New Zealand Stock Exchange. Link Group was acquired by Mitsubishi UFJ Trust & Banking Corporation earlier in 2024 and rebranded as MUFG Pension & Market Services, which comprises two divisions: MUFG Retirement Solutions and MUFG Corporate Markets.
Marcelle Ashcroft, Managing Director at MUFG Retirement Solutions NZ, said the firm is "more committed than ever to growing our partnerships with clients and expanding our presence in the New Zealand market," describing the Mercer win as a "great win" and a chance to demonstrate its technology and administration capability.
The firm's New Zealand footprint was previously expanded through its 2016 acquisition of Aon New Zealand's funds administration business. Its flagship software solution, Capital, is now used across KiwiSaver, managed funds, master trusts, workplace savings schemes, unit trusts, and for clients including ANZ and AMP.
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