Bermuda firm launches Cayman trust business

Bermuda-based Mitsubishi UFJ Fund Services (Mitsubishi UFJ), a global asset administrator, has launched its Cayman Islands Trustee Services, targeting new and existing Cayman Islands unit trusts. The new services complement the established fund administration services provided by Mitsubishi UFJ for Cayman Islands structures.

Mitsubishi UFJ is introducing these services in response to a strong demand for Cayman Islands domiciled unit trusts, particularly from the Asian markets, where unit trusts continue to be the preferred investment vehicle of choice. Mitsubishi UFJ will act as trustee to Cayman-domiciled unit trusts, and will explore the potential to act as trustee for private client trusts, in addition to providing custodial services in the Caymans.

To support the provision of these services, Mitsubishi UFJ has appointed Sophia Graham as trust manager. Ms Graham is a qualified Trust and Estate Practitioner, with more than 14 years of experience in the field.

The launch of Mitsubishi UFJ’s Cayman Islands Trustee Services has been buoyed by a number of recently added clients, including Neuberger Berman, Tokio Marine Asset Management Co. and TCW.

Derek Bruce, director, MUFG Fund Services (Cayman) Ltd, says: “Cayman Islands unit trusts are increasingly popular investment vehicles for a range of fund managers, who are responding to the efficiency of the structure and the demands of the Asian markets. With the backing of the Mitsubishi UFJ Financial Group (MUFG) we have been given the opportunity to develop our services for structures based in the region.

“We are able to leverage the strength of MUFG to offer a range of asset services under the same umbrella, allowing us to provide a more efficient, integrated offering for our clients.

“Sophia Graham brings with her a wealth of knowledge in trust, corporate and estate planning structures. She will play a crucial role in the ongoing development of our trust services, and expanding the solution to an even wider audience.”

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