(18 January 2023 – Japan) One of Japan’s megabanks, MUFG, has outlined growth plans for its asset management (AM) business, including doubling its assets under management to JPY200t by 2029.
In a statement posted on its website, MUFG said that it aims to become Japan’s number one AM firm with a global presence and has set AM as a core business for the bank.
“Our target is to double assets under management from the current 100 trillion yen to 200 trillion yen by the end of fiscal year 2029,” the bank said in a press release.
MUFG also aims to double the business volume of its BPO contracting balance from JPY40t to JPY100t by 31 March 2023.
The move comes after the Japanese government laid out its vision to promote Japan as a leading asset management center.
“As a global comprehensive financial services group, we will empower people to build more prosperous lives by promoting investment and supporting asset formation through further enhancing our industry-leading asset management and investor services and providing customer-centered professional investment advisory services and diverse solutions, as well as financial and economic education,” MUFG said.