The offer results from a new partnership between the two companies, reports Global Custodian.
Independent of the administrator
The product, branded Multifonds Global Accounting, is said to let asset managers generate net asset value estimates independently of, and in parallel to, their fund administrators.
The solution is intended to simplify daily oversight, and helps keep up operations in case a source of data would suffer an outage.
Global Custodian sees the collaboration between Temenos and Bloomberg as a trend indicator of the rise of ”shadow” fund administration, where an independent third-party provides oversight and validation of the net asset value and other aspects of funds’ accounting.