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#88: Fund Accounting for Digital Assets with MG Stover & Otto
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The investment fund industry is massive, spanning everything from mutual funds and hedge funds to private equity and ETFs. But something’s changing.
Finance is shifting from slow, opaque off-chain transactions to fast, transparent on-chain finance. Tokenized funds are here, with institutional AUM now over $470 million (rwa.xyz).
Leading this evolution is MG Stover, managing $40billion+ in digital assets and now part of Securitize, a leader in tokenizing real-world assets ($3.7billion on-chain).
Their latest innovation? Otto, an app designed for institutional digital asset funds.
On Ep. 88, I speak with Patrick Clancy, Head of Growth at MG Stover, about fund administration for digital assets, how to launch a digital assets fund, and the tech driving them.
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For show notes and past guests, please visit https://www.theaccountantquits.com/podcast
Topics Covered:
(0:00) Coming Up
(0:49) Episode intro
(3:50) Challenges with digital assets fund admin
(5:35) Difference between fund admin & fund manager
(8:05) Working with regulated custodians
(9:20) Operational setup, including NAV reporting
(13:02) Gaps in DeFi tooling
(15:47) Thanks to our sponsor Request Finance
(17:26) Fund structures for digital assets
(23:10) Capital markets narratives
(27:58) Tipping point for tokenized funds
(30:42) History of MG Stover with crypto fund admin
(34:54) Acquisition by Securitize
(36:11) Thanks to our sponsor Octav
(37:52) Otto, a tool for fund administration
(41:33) Otto v/s subledger v/s Allvue
(45:01) Growth initiatives for Otto
(49:09) Closing education gap for accountants
(52:11) Closing thoughts
(53:05) Patrick’s favourite maxim
88 episodes
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