MUFG Acquires Rydex Fund Services from Guggenheim Investments

MUFG Investor Services, the global asset servicing group of Mitsubishi UFJ Financial Group, and Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, have announced that they have entered into an agreement in which MUFG will acquire Rydex Fund Services, a mutual fund administration business from Guggenheim Investments.

The Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term demonstrates our commitment to supporting the growth of new clients and extending our services to existing clients.

Completion of Full Service Offering

The deal will complete MUFG Investor Services’ full service offering for investment managers, adding regulated 1940 Act mutual fund and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term traded fund services expertise to a comprehensive service proposition which spans single manager, fund of hedge fund, private equity and real estate funds, pension funds and traditional asset managers.

Junichi Okamoto, Group Head of Trust Assets Business Group, Deputy President, Mitsubishi UFJ Trust and Banking Corporation, said: “The acquisition of Rydex Fund Services will strengthen our position as an industry-leading administrator and is an important part of our commitment to supporting the growth of new clients and extending our services to existing clients. This deal will add capabilities which will allow us to respond more dynamically to our clients’ changing needs, enabling them to fully realize new market opportunities and support their growth ambitions.”

The transaction will add $52 billion to MUFG Investor Services’ assets under administration (AuA) bringing total AuA to $422 billion. The assets serviced by Rydex Fund Services primarily consist of Guggenheim and Rydex branded mutual funds, exchange-traded products and closed-end funds, for which Guggenheim Investments will continue to serve as investment advisor.

Nikolaos Bonos, Head of Rydex Fund Services, added: “MUFG Investor Services will provide new opportunities for us to extend and enhance our ‘40-Act fund administration experience for the benefit of our current and future clients. Aligning our team within the MUFG Investor Services group will enable us to respond to rising demand for liquid alternatives with a comprehensive service proposition that supports the development of investment managers’ businesses.”

The transaction is expected to complete in the fourth quarter of 2016.