Lukka, Theorem and Hashdex establish industry’s first same-day NAV reporting capability for digital assets
Collaboration paves the way for broader adoption of digital assets by the institutional market
NEW YORK (September 25, 2019)— Technology and data services provider, Lukka, announces a new collaboration with Theorem Fund Services and Hashdex that provides the world’s first 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,” said Jake Benson, Founder and CEO of Lukka.
“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,” said Greg Knapp, Vice President of Business Development of Theorem. “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.”
“Our partnership with Theorem and Lukka has allowed us to offer our clients flexible products with best-in-class governance and security,” said Bruno Caratori, Co-founder and Chief Operating Officer of Hashdex. “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.”
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. The joint effort removes friction for institutional investors by collaboratively designing the tools necessary to address the challenges presented by this new asset class.
Founded in 2014, Lukka is a trusted, blockchain-native technology company that delivers leading products for the crypto asset ecosystem. Lukka’s products automate and optimize accounting, audit and tax processes for funds, fund administrators, OTC and proprietary trading firms, exchanges, miners, protocols and accounting firms. Lukka’s premier solutions enable the transformation of distributed and decentralized data into auditable information within a highly scalable and secure SOC 1 Type 2 infrastructure. Lukka is based in New York City.
For information about Lukka, visit www.lukka.tech
Theorem Fund Services is a multi-service fund administrator which offers a unique turn-key solution to investment managers that combines institutional-level technology with strong industry experience and a deep understanding of our clients’ needs and goals.
We were founded on the belief that traditional fund administration platforms need to evolve into a much more comprehensive multi-service offering. This enables an investment manager to maximize their service delivery by dramatically increasing fee efficiency and scalability. At Theorem, traditional core services of fund administration and investor reporting are uniquely and seamlessly packaged with a comprehensive tax solution offering for both the fund and the investment manager.
At Theorem, we understand that our success depends entirely on the success of our clients and our ability to develop long-term client relationships that fully support our clients in their work. We are committed to partnering with our clients to ensure they receive the very best value combined with the highest quality service at the best price.
Hashdex is an asset management company that focuses on investing in digital assets and building investment technology products in the blockchain and distributed ledger space.
The company was founded in 2018 by a team of technical entrepreneurs and investment professionals who have in-depth experience in broad spectrum investing strategies, portfolio and risk management, technology development, operations and DLTs. Hashdex serves investors globally, is venture-backed by VCs from the Silicon Valley and is supported by a network of high-caliber partners for auditing, governance, legal, and administration.
Hashdex has designed the Hashdex Digital Assets Index (HDAI) that aims to broadly track digital assets that represent the overall digital asset market. The HDAI is comprised of automated rules that allow the index to periodically adjust its constituents as the market matures. The investment firm’s main product is the Hashdex Digital Assets Index Fund, a passively managed fund that tracks the HDAI.
For information about Hashdex, visit www.hashdex.com