The pandemic has accelerated the trend of NAV oversight and contingency plans following major industry event in 2016.
Acquisition of investment automation and NAV oversight calculation solutions provider will bolster BNY Mellon’s digital capabilities, the asset servicer said.
The extended partnership will enable Baillie Gifford to continue developing its fund accounting processes.
The launch of the tool comes as regulators are preparing to increase scrutiny on asset managers to oversee their third-party providers.
Greater regulatory scrutiny comes as the COVID-19 pandemic has highlighted a greater risk in the event a fund administrator cannot strike a NAV.
Asset servicer launches solution in case of outages in the primary daily NAV production process.
Buy-side firms have increased their focus on NAV generation following the COVID-19 pandemic and changes to business continuity plans, according to the report from Celent.
Alternatives fund managers said they would like better transparency and control over the net asset value (NAV) administration process performed by fund administrators.
ESMA stated the growth in alternative investment funds NAV was associated to increased launches of new products in Europe.