BNY Mellon has launched a new suite of oversight and contingent net asset value (NAV) calculation solutions to complement its existing fund accounting capabilities. These new services are designed to drive greater transparency, efficiency and risk management for asset managers and asset owners. These expanded capabilities leverage the bank’s recent alliance with institutional investment solutions provider Milestone Group and its digital investment platform pControl.
BNY Mellon’s new NAV offerings, which are platform and provider agnostic, have three key features:
NAV Review: independent NAV oversight and reporting for funds administered across multiple providers;
Oversight with Expected NAV: independently calculated per-share value of a fund that is intended to assist with the execution of control and oversight responsibilities; and
Back-Up & Contingent NAV: transparency and oversight into independently calculated NAV in the event the primary account platform or provider is unavailable.