A police investigation into an alleged sexual assault on the University of Waterloo campus has resulted in the arrest of an 18-year-old man.

Waterloo Regional Police say the man approached two female students earlier this month, and was later found on university property by campus police.

He faces charges of assault, sexual assault and performing in an indecent act.

No injuries were reported during the alleged assault.

Police say they believe the case to be an isolated incident.