Tokenized fund administration: what changes for administrators and fund accountants

Fund administration still runs on spreadsheets, email threads, transfer-agent exports and bank statements in PDF.

Every NAV, every dealing day and every reconciliation passes through hands, files and inboxes, with nothing proving who checked what.

T-Suite Funds gives fund administrators one place to run it all, on-chain and under their own brand. The administrator stays the NAV calculation agent and the transfer agent. T-Suite imports, enforces, publishes and reconciles.

Funds is available on request. A firm opens Manage Subscription, finds the Funds card at one thousand US dollars a month, and clicks Request access.

They tell us about the firm: its name, website, country, and the funds it runs.

The request is sent, and the Libertum team is told straight away.

Libertum agrees the terms with you, including the distribution fee, and grants the module. Your operator workspace is created automatically, named from what T-Suite already knows about your firm.

The Funds tab is the administrator's home: every client fund manager, every fund and share class, and the last NAV published for each.

Funds can be open-ended or closed-ended, in any currency, each with its own NAV frequency.

Invite your team with clear roles: preparers do the work, approvers check it, and auditors only read. Access can be limited to one fund, and auditors always get an expiry date.

Each fund chooses how many people approve its work: one person, or two, three or four. Freezes, forced transfers and wallet recoveries always need two people.

Investor payment details live with the fund: a bank account and a USDC address, with optional overrides for each share class. Changes take effect only once approved.

Calendars set the business days and holidays behind every NAV deadline and dealing date.

And your branding appears on fund pages, contract notes, notices and emails.

Share classes can be linked to a token issued on T-Suite. From then on, that token is managed by the fund.

On the issuer's side, the offering shows that it is managed in Funds.

And investors see Subscribe through the fund instead of a buy button, so nobody can trade around the fund's rules.

Now, the NAV. The administrator calculates it. T-Suite checks it, gets it approved, and publishes it.

The preparer imports the administrator's file. T-Suite checks every class, the currency, the units against the register, and the move since the last NAV. Here, class B moved more than the five percent tolerance.

A breach can't be waved through: it needs a written reason. Then the pack goes for approval, with a note for the approver.

The pack gets a fingerprint of its lines and files, and waits for approval under the fund's setting.

The approver sees exactly what they are signing, with the reasons and the payload hash. On a one-person fund, the preparer approves it themselves, and that is recorded too.

Once approved, each class's NAV is published on-chain with the pack's fingerprint, and anyone can recompute it to verify the record.

Dealing, for open-ended funds.

It starts with the dealing terms: cut-off times, notice, settlement, fees, minimum holdings, lock-ups and redemption gates. Changes are approved like everything else.

Investors subscribe from the offering page, by amount or by units. Orders are forward priced at the NAV of the dealing date, which is not known yet.

The order is received with its dealing date and a payment reference, and exactly how to pay: the fund's bank account or its USDC address.

The same details stay in the investor's dashboard, under My fund orders, and arrive by email. Investors can also pay straight from their USDC balance, after the usual security checks, and the order is marked paid only when the exact amount arrives.

Orders from the administrator's own transfer-agent system come in by file or through the API, next to orders placed on T-Suite. Cash is marked received before the cut-off.

After the cut-off and the NAV, the preparer builds the dealing run: units for every order, fees, and any gate applied pro rata.

Once the run is approved, units are minted and burned on-chain, and every investor gets a contract note.

Closed-ended funds work through commitments.

Investors commit capital, and a closing issues units in proportion to each commitment.

Capital calls are split across investors automatically, with a notice for each, and payments tracked line by line. Distributions break down into return of capital, income and gains, with withholding.

Capital accounts follow the ILPA layout: committed, contributed, unfunded and distributed, for any period, and export to CSV.

Investors see the same capital account, every call and every distribution notice, in their own dashboard.

Then, reconciliation.

Reconciliation compares three records: the on-chain register, the administrator's register and the bank statement. Each break has an age and an owner.

Payments match only for the exact amount. A short payment becomes a break, never a silent match, and an unknown payment waits for a person to pair it.

Libby, the AI assistant, can suggest pairings with its reasons, but never applies them. A person confirms, and the reconciliation is signed off through approval.

Journals map every event to the administrator's chart of accounts, as balanced batches for the general ledger, exported once approved.

Enforcement covers freezes, forced transfers and wallet recoveries. Each needs a written reason and a second person, always.

Any file from the administrator's system can be dropped in, with saved column mappings, and an outbox prepares register, dealing, capital-account and journal files on a schedule.

Integrations connect the administrator's own systems through the Funds API: scoped keys, limited to chosen funds, each acting for a named person.

That person must accept a key before it works, because everything it does is attributed to them.

Signed webhooks push events to your systems, with retries. Developers also get a software kit, a command line, and an AI assistant connector that can read and prepare, but never approve.

Every change, decision and access is in a tamper-evident access log. Verify the chain at any time, and build an evidence pack for the auditors in one click.

And investors see their fund holdings at the latest published NAV, next to their orders and contract notes.

T-Suite Funds: run every fund you administer in one place, on-chain, under your brand. One thousand US dollars a month, with unlimited funds. Request access in T-Suite, or book a demo at libertum dot io.