Asset administrator Mitsubishi UFJ Fund Services (Mitsubishi UFJ) has launched its Cayman Islands trustee services.
The business will target new and existing Cayman Islands unit trusts, while complementing the established fund administration services provided by Mitsubishi UFJ for Cayman Islands structures.
The asset administrator said the launch was in response to a strong demand for Cayman Islands domiciled unit trusts. The demand is driven by the Asian markets where unit trusts continue to be the preferred investment vehicle of choice.
Sophia Graham has been appointed as trust manager. She is a qualified trust and estate practitioner, with more than 14 years of experience in the field.
Derek Bruce, director, MUFG Fund Services (Cayman), said: “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.”
Mitsubishi UFJ Fund Services, Cayman, Bermuda, Sophia Graham