Blockchain technology and data services provider, Lukka (previously known as Libra), today announced a new collaboration with Theorem Fund Services and Hashdex that provides same-day net asset value (NAV) reporting for digital assets.
Calculating daily NAV enables investors daily liquidity in and out of the fund. Lukka provides Theorem accountants with purpose-built, crypto-native tools and data to streamline the processing of digital assets. The three companies have now streamlined the NAV reporting process, reducing what traditionally took multiple days to same-day.
“We are excited to partner with Theorem to deliver Lukka’s unique crypto tools and data to their portfolio of fund accounts such as Hashdex Digital Assets Index Fund (HDAIF), in order to provide accurate same-day pricing for financial and regulatory reporting.”
– Jake Benson, Founder, and CEO of Lukka
The ability for funds to seamlessly calculate net asset value for crypto assets just as they do for other mature asset classes, is a major step in the evolution of middle and back-office processing and reporting.
“While most firms tend to lightly scratch the surface of this industry, Theorem’s strength is our ability to completely cover the array of issues presented to fund managers like Hashdex. Lukka’s level of technical detail such as allowing funds to accurately value crypto assets on a daily basis provides us a vital component in servicing our crypto clientele.”
– Greg Knapp, Vice President of Business Development of Theorem
The joint effort removes friction for institutional investors by collaboratively designing the tools necessary to address the challenges presented by this new asset class.
“Our partnership with Theorem and Lukka has allowed us to offer our clients flexible products with best-in-class governance and security. Their same-day reporting capabilities is what enables us to serve the very high standards from distribution partners and regulators across the globe, allowing us to advance our mission of democratizing access to investing in digital assets in a secure and transparent way.”
– Bruno Caratori, Co-founder and Chief Operating Officer of Hashdex