MUFG Retirement Solutions secures Mercer NZ admin deal

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 its suite of wholesale investment products.

The division of MUFG Pension & Market Services – also formerly known as Link Market Services in New Zealand – to have solidified the deal, MUFG Retirement Solutions, will take over registry administration and transaction processing for Mercer Investment Trusts New Zealand from BNP Paribas.

The partnership is part of a multi-year agreement signed on 31 July, with MUFG Retirement Solutions expected to commence administrative responsibilities for the wholesale funds by mid-September.

The agreement with Mercer is one of several registry transition deals completed by MUFG Retirement Solutions in recent years, especially in the APAC 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 (JV) with the New Zealand Stock Exchange.

“We are more committed than ever to growing our partnerships with clients and expanding our presence in the New Zealand market,” Marcelle Ashcroft, Managing Director at MUFG Retirement Solutions NZ, said.

“To secure a global client of Mercer’s calibre is a great win and we are looking forward to demonstrating the benefits and value our technology solution and administration capability brings.”

MUFG had also acquired Aon New Zealand’s funds administration business in 2016 and launched Capital, its flagship software solution, which is now used across a range of investment products and businesses including KiwiSaver, managed funds, master trusts, workplace savings schemes, unit trusts, ANZ and AMP.

Link Group in Australia was acquired by Mitsubishi UFJ Trust & Banking Corporation earlier this year and rebranded to MUFG Pension and Market Services. MUFG Retirement Solutions is one of two divisions under the new banner, the other being MUFG Corporate Markets.