Of Special Interest
13th December 2011
Mitsubishi UFJ Trust alliance with / stake in AMP Capital
Mitsubishi UFJ Trust and Banking Corporation (MUTB) and AMP Capital Holdings entered into a strategic business and capital alliance. As part of this agreement MUTB will acquire a 15% holding in AMP Capital subject to regulatory approvals.
AMP Capital Holdings is a subsidiary of AMP Limited, the largest financial service provider in Australia. MUTB explain the deal is part of their global strategy and adds to the alliances already formed with Aberdeen Asset Management PLC in the UK and SWS MU Fund Management Co., Ltd. in the Peoples' Republic of China.
The capital and business alliance "will enable MUTB and AMP Capital Holdings to develop new products together, and will provide MUTB's retail and institutional clients with more attractive products where AMP Capital Holdings has a competitive specialisation". MUTB will also distribute the joint products through MUFG's network of Japanese retail and institutional clients such as pension funds.
AMP Capital Holdings has A$120bn (€91bn £78bn $122bn ¥9.5tr Y772bn) AUM.