MUFJ sets up new fund management firm and investment fund
Mitsubishi Corporation (MC: Tokyo, Chiyoda Ward; President and CEO, Yorihiko Kojima) and Mitsubishi UFJ Securities Co., Ltd. (MUS: Tokyo, Chiyoda Ward; Chairman and CEO, Yasumasa Gomi), a subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG: Tokyo, Chiyoda Ward; President & CEO, Nobuo Kuroyanagi) have decided to jointly establish a new fund management company, (MC 50%, MUS 50%).
MC, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU: Tokyo, Chiyoda Ward; President Nobuo Kuroyanagi), a subsidiary of MUFG, and MUS have also committed to invest as a limited partner in this new investment fund to be formed by a new fund management company under the Limited Partnership Act for Investment.
Total size of the fund is expected to be JPY 100 billion. The investment period and fund life will be 5 years and 10 years respectively. The fund management company will start its operation in April. — www.theasianbanker.com (March 28 2008)–