Swiss technology supplier Temenos will offer its product to Bloomberg’s buy-side users, to help them oversee and validate the accounting of their funds.

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.

Shadows rising

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.