In the global alternatives industry, three factors separate great firms from the rest: how well they keep their clients, how well they support and grow their people, and how they respond in times of crisis.

At MUFG Investor Services, we’re proud to lead on all three. Our client retention rate is near 100%. Our people stay and grow with us. And when markets turn volatile—as they have time and again—we don’t retreat. We rise.

In the wake of the global financial crisis in 2008, MUFG stood apart as one of the only major institutions that never pulled back lines of credit. During the pandemic, we became the first global asset servicing provider to operate fully remotely without cutting staff or engaging in wage arbitrage. We remain that same resilient, forward-looking partner today.

The first half of 2025 has underscored the importance of that steadiness. It’s been a deeply volatile year globally—with escalating geopolitical conflict, trade disruption, tariff shifts, and mounting regulatory pressure. But amid these challenges, our industry continues to evolve and, in many areas, accelerate.

Private markets remain a strong draw for investors seeking diversification beyond public markets. We’re seeing continued innovation in fund structures, particularly with the growth of semi-liquid and evergreen vehicles. Meanwhile, the role of operational infrastructure—especially technology and data—is taking center stage, enabling managers to move faster, smarter, and more efficiently.

At MUFG Investor Services, we are evolving in lockstep with our clients. We are delivering the infrastructure, tailored solutions, and operational firepower required to succeed across asset classes and fund types. For example, our proprietary fee calculation engine now supports more than 350 complex and bespoke models, on top of the hundreds of fee calculations already automated via existing allocation tools, delivering accuracy, consistency, and transparency in fund accounting and back-office operations.

As regulatory demands grow, so too does the need for operational agility—particularly when managing increasingly complex fund structures and evolving investor expectations. At the same time, today’s market conditions reward firms that can deploy capital swiftly and decisively. This is where our scale, stability, and infrastructure provide a meaningful edge across hedge funds, private markets, and hybrid strategies.

Currency markets have also become significantly more volatile. Since the start of 2025, the U.S. dollar has declined more than 7% marking one of its sharpest declines in recent years. Major intraday swings, including dramatic movements against Asian currencies like the Taiwan dollar, are now part of the landscape. These aren’t ordinary movements—they are systemic shocks. Through our interactive, cloud-based FX overlay solution, managers can respond dynamically, tailoring strategies in real time and protecting returns while leveraging the global strength and institutional stability of MUFG.

This edition of Alt Insider explores the key forces shaping the second half of 2025. We take a closer look at the private markets landscape, the expanding role of the CFO in data and technology strategy, what UK managers need to know about T+1 settlement, and how shifting geopolitics are reshaping banking and treasury priorities around the world. In times like these, clients need more than a vendor. They need a steady partner with vision, values, and velocity. That’s exactly what we strive to be.