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Funds Guide

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Funds Guide

Status: Live — access by request

T-Suite Funds is infrastructure for fund administrators. This guide walks through it role by role. For a summary of the product, see Funds.

Who does what. The fund administrator remains the NAV calculation agent and the transfer agent. T-Suite imports the administrator’s numbers, enforces the fund’s rules, publishes what the administrator’s people approve, reconciles and exports. Libertum is not the administrator, transfer agent or issuer of any fund on the platform. Nothing in this guide is legal, tax or investment advice.

1. The roles

RoleSideCanCannot
Operator adminAdministratorManage staff, branding, calendars, integrations and API keys; read everything; see the operator’s commercials and access logPrepare NAV or dealing; approve
PreparerAdministratorImport NAV packs; prepare dealing, capital calls, distributions, reconciliation work, enforcement drafts and journalsApprove anything, unless the fund uses one-person approval
ApproverAdministratorApprove or reject requests (never their own); read; see the access logPrepare
AuditorAdministratorRead and audit, limited to the funds named in the invitation; access always has an expiry dateChange anything
Manager adminFund managerRead their own funds; request changes to dealing terms; consent to enforcement where the fund requires itChange terms; see other managers’ funds
Manager viewerFund managerRead their own fundsAnything else
InvestorInvestorSubscribe, redeem, pay and follow commitments from their own dashboardSee anything about other investors

A fund manager only ever sees its own funds. Opening another manager’s fund — even by pasting its address — shows “not found”.

2. Getting access (operator owner)

Funds is a request-only add-on: USD 1,000/month with unlimited funds, plus a distribution fee agreed with each administrator.

  1. Sign in to app.libertum.io and open Settings → Manage Subscription.
  2. On the Funds card, click Request access. Enter your firm’s legal name (required), website, country and a short message, and send it.
  3. The card shows that your request has been sent. You receive an acknowledgement email, and Libertum reviews the request.
  4. When Libertum grants the module, reload T-Suite. A Funds tab appears in the persona bar, and your operator — your firm’s workspace — has been created, pre-filled from your KYB, branding or request. Every field stays editable.

If the module lapses, the operator is suspended and its pages refuse access; nothing is deleted. It reopens with all its data when the module is active again. You can also pay by invoice: Libertum can assign your plan as Paid by invoice with Funds included.

3. Setting up the operator (operator admin)

The Funds sidebar has Overview, Funds, Import NAV, Approvals, Staff & Roles, Branding, Calendars, Access Log and Integrations. You see the entries your role allows.

  1. Add your managers. On Overview, click Add manager and enter the fund manager’s legal name, an optional short name and its jurisdiction.
  2. Create funds. On Funds, click Create fund. Choose the manager, the fund name, the structure (Open-ended or Closed-ended), the base currency, the register model (which register is the legal one), the NAV frequency and the NAV tolerance (%) — a larger move against the prior NAV will need a written reason. Then add the fund’s share classes.
  3. Invite staff. In Staff & Roles, invite people by email as administrator staff or as manager (client) users. Choose the role, optionally limit access to particular funds, and set an expiry date (always required for auditors). Invitees accept from the link in their email; the link still works if they have to sign in first.
  4. Set your branding. In Branding, upload your logo and set your colours and legal footer. Notices, contract notes and portals use it.
  5. Set calendars. In Calendars, maintain the business-day calendars your funds deal on, including holidays. Dealing and NAV dates skip non-business days.
  6. Link share classes to tokens (optional). On a fund’s overview, use Link offering on a share class to link it to a T-Suite ERC-3643 offering that your organisation owns. The picker lists only offerings that are not already a share class. From then on the fund runs that offering (see section 11).

4. Fund settings: approvals and payment details

Open a fund and choose Settings.

Approvals. Choose how many people approve the fund’s requests: 1, 2, 3 or 4. New funds start at 1, meaning the preparer approves their own work — the approval is still logged and marked as self-approved.

  • Raising the number takes effect at once.
  • Lowering it is itself a request that the current approvers must approve.
  • Freeze, forced transfer and wallet recovery always need two people, whatever the fund’s setting.

Investor payment details. Enter where investors pay: a bank account (account name, bank, IBAN or account number, BIC or routing number, currency) and, for USD classes, a USDC address, with an optional note. IBANs are checked before saving.

  • A change takes effect only once approved. The approver sees the current and proposed details side by side.
  • A share class can override the fund’s details, for example a EUR class with a EUR account.
  • If a fund has no payment details, investors are told that the administrator will send instructions, and their payment reference is still shown.

5. NAV packs (preparer, then approver)

  1. Import. Choose Import NAV, pick the fund and the valuation date, and upload the NAV pack as CSV, XLSX or JSON — one row per share class with the NAV per share, currency, units in issue and total NAV.
  2. Validate. T-Suite checks that every class exists, that the currency matches, that units agree with the register, and shows the change against the prior NAV per class and the pack’s SHA-256 hash. A move beyond the fund’s tolerance is flagged, and you must type an explanation before you can submit. Unknown classes are refused.
  3. Submit. A NAV for a date can only be submitted after that date’s dealing cut-off, so no one can trade at a price that is already known. The pack goes to the approvers, who are notified by email.
  4. Approve. In Approvals, an approver opens the pack and approves or rejects it. On approval, the NAV of each class linked to a token is published to the NAV registry on that token’s chain; the transaction carries the pack’s SHA-256 hash. Classes without a token are recorded with their evidence.
  5. Verify. On the pack, Verify recomputes the hash from the stored files and shows whether it matches the recorded hash. Anyone can compare the hash in the on-chain transaction with the pack.

Restatements. Restate a published pack with a reason; it goes through approval again. The earlier pack is marked superseded, and dealing priced at it is flagged for repricing review. A restatement of an older date is recorded without moving the live NAV backwards.

Late NAVs. If a valuation date passes its NAV deadline with nothing published, the class shows NAV overdue, dealing in it pauses, and preparers and approvers are alerted once.

6. Dealing for open-ended funds (preparer, then approver)

Open the fund’s Dealing tab.

  1. Terms. Propose the dealing terms per class: subscription and redemption fees, minimums, minimum holding, investor eligibility, redemption gates (per investor and per fund, with carry-forward) and lock-ups. A change is pending until approved. Manager admins can request a terms change but cannot make one.
  2. Instructions. Subscriptions and redemptions arrive three ways: from investors in T-Suite, from your TA system by CSV import (each row’s deal ID makes re-imports safe — a repeated row returns the existing instruction), or over the API. TA-only investors without a T-Suite account are accepted with their account reference.
  3. Cash. A subscription becomes cash matched when its payment is matched in reconciliation, when the investor pays from their custodian balance, or when you mark cash received with a reference.
  4. Build a run. After the dealing date’s cut-off and once that date’s NAV is published, choose Build run. Dealing is forward-priced, so a run cannot be built earlier. The preview shows the NAV per class, units per line (net of fees), any gate scaling and a warning for subscriptions still waiting for cash.
  5. Approve and settle. Submit the run; an approver approves it. Settlement mints units for subscriptions and burns units for redemptions on-chain, with the transaction hash on the run page. Lines for investors without a T-Suite account show why they were not minted. If a settlement fails, Retry settlement appears; if a burn’s outcome is uncertain, an approver uses Resolve burn after checking the chain, so units are never burned twice.
  6. Contract notes. Download a branded one-page PDF contract note from the run or the instruction, showing NAV, units, gross, fee, net, the NAV pack hash and the transaction hash.

Redemptions above an investor’s or the fund’s gate are scaled down pro rata, and the remainder is carried forward to the next dealing date. Investors can cancel an instruction until the cut-off.

7. Private markets for closed-ended funds (preparer, then approver)

Open the fund’s Private markets tab.

  1. Commitments. Import commitments from a CSV file or add them by hand, by investor and closing.
  2. Closings. Close a closing at an issue price and send it for approval. On approval, units are issued in proportion to each commitment — on-chain for investors who hold a linked T-Suite token — and the commitments become closed.
  3. Capital calls. Draft a call (for example, for investment), then submit it for approval. Lines are split pro rata to the commitments, and each investor receives a branded PDF notice with a call reference by email. A call cannot exceed the unfunded commitment. A cancelled draft frees its headroom.
  4. Payments. Record full or part payments per line; a call closes when every line is paid. Overpayments are capped at the line amount and reported.
  5. Distributions. Record return of capital (including any recallable part), income and gains, with withholding where it applies, and submit for approval. Notices go out with net amounts after withholding.
  6. Capital accounts. View or download ILPA-style capital accounts per investor for a period: commitment, called, paid, unfunded (with recallable amounts added back), distributions by type and NAV.

8. Three-way reconciliation (preparer, then approver)

Open the fund’s Reconciliation tab.

  1. Upload the administrator’s register and the bank statement (camt.053, MT940 or CSV), set the as-of date and run. The on-chain balances are read at a pinned block.
  2. Review the counts of positions, transactions and cash, each with matched items and breaks. A bank line that pays a subscription’s or capital call’s reference with the exact amount is matched; a different amount is a break, not a match. Re-running with the same lines never applies them twice.
  3. Work the breaks: pair unidentified cash with an expected payment, resolve position breaks with a resolution code and a note, assign an owner and comment. Ask Libby proposes candidates with confidence and evidence; nothing is applied until a person clicks Confirm.
  4. Submit for sign-off. When an approver signs off, the run locks. Export it as CSV.

9. Enforcement, journals and files

Enforcement (ERC-3643 share classes). A preparer drafts a freeze, unfreeze, forced transfer or wallet recovery with a reason. It always needs two people. If the fund requires manager consent, the action waits for the manager admin’s consent before an approver can decide. On approval, the action is executed on-chain and its transaction hash is recorded.

Journals. First map the fund’s chart of accounts (bank, subscriptions in advance, capital per class, fee income, redemptions payable). Then generate a journal batch for a period: debits equal credits per currency, with control totals and a hash. After approval, export it as CSV or XLSX and mark it posted. A batch can be reversed with a reason (the reversal is itself approved). Entries post on the fund’s own time-zone day.

Files. In the fund’s Files tab, drop files with a saved column mapping (created under Integrations → Column mappings) — for example dealing instructions or a cash file that starts a reconciliation. The Outbox schedules exports such as the register. Very large spreadsheets are refused before they are opened.

10. Integrations, audit trail and evidence (operator admin)

API keys. In Integrations, create API keys with scopes (for example read-only fund and dealing access) and, optionally, limited to particular funds. The secret is shown once. A key created for a teammate stays waiting for them to accept; only that person sees the secret, once they accept it. A request log shows each call with its status and the tool that made it.

Webhooks. Add a public https endpoint and choose events. Each delivery is signed; copy the signing secret to verify it. You can ping an endpoint, pause and resume it, and replay events missed since a point in time.

API, SDK, CLI and MCP. One OpenAPI 3.1 specification describes the Funds API. Writes are idempotent with an Idempotency-Key. A TypeScript SDK, the tsuite command-line tool and an MCP server for AI assistants use the same API. There is no API endpoint for approving anything: approvals and anything that moves money stay with people in T-Suite, and an AI assistant can read and draft but never approve.

Access log. Access Log records every action with who, when and what, including register reads. Verify chain checks that each entry links to the previous one by hash, so an edited entry shows as a break.

Evidence pack. Generate a monthly control evidence workbook (XLSX) with a summary, approvals, reconciliations, the access log, configuration changes, API keys and webhooks, plus its file hash and the chain status.

11. Fund-managed offerings (issuer side)

When a share class is linked to a T-Suite offering, the fund runs that offering while the fund and the class are active:

  • The offering shows a badge naming the share class and the fund. People with access to the fund can open it from the badge; others see who runs it.
  • Investors see a banner and Subscribe / Redeem through the fund instead of Invest. Orders are dealt at the next NAV.
  • On the issuer side, direct purchases, Update NAV, redemption windows, dividend declarations and P2P listings for that offering are refused with a note pointing to the fund. The offering’s NAV changes only through approved NAV packs.
  • The fund’s own NAV publication, dealing settlement and distributions are not affected.
  • If the fund or the class is closed, the offering behaves as an ordinary offering again.

12. Fund managers (clients)

Your administrator onboards you and invites your team as manager admin or manager viewer.

  • Funds lists only your own funds, with their share classes and last NAV.
  • You can follow NAV packs, dealing, the register, private-markets activity and reconciliations for your funds, as your role allows.
  • A manager admin can request a change to dealing terms; the administrator’s preparer and approvers decide.
  • Where the fund requires it, a manager admin consents to an enforcement action before an approver can decide.

13. Investors

Subscribing.

  1. Open the offering page of a fund’s share class. A banner explains that you subscribe and redeem through the fund; the fund panel shows the NAV and its history.
  2. Click Subscribe and enter an amount. The dialog shows the dealing date and your payment reference (for example SUB-…) with a copy button. Amounts below the class minimum are refused.
  3. Pay using How to pay: the amount, your reference (quote it exactly), the bank details and, for USD classes, the USDC network and address. You also receive these details by email.
  4. For a USD class, you can click Pay … USDC from my balance to pay from your Custodian Wallet. Enter the verification code you receive. The order shows Payment sending, then Paid once the transfer confirms. Large payments may wait for a security review first.
  5. Your units are issued after the dealing date’s NAV is published and the run settles. Download your contract note from My fund orders on your dashboard.

You can cancel an order until the dealing cut-off. A payment is matched only when the exact amount arrives.

Redeeming. For a fund-managed holding, Redeem through the fund replaces the usual Redeem and Sell actions. Redemptions are dealt at the next NAV and may be scaled down by a gate, with the remainder carried forward.

Closed-ended funds. My commitments on your dashboard shows your capital account, capital calls and distributions, and lets you download your notices.

14. Pricing and billing

  • USD 1,000/month for the operator, with unlimited funds.
  • A distribution fee at a rate agreed with each administrator accrues on Funds dealing settlements and appears on the administrator’s Libertum invoice. The standard platform distribution rate does not apply to Funds dealing.
  • Access is by request; Libertum can also bill the plan by invoice.

See Plans, Modules & Pricing.

15. Watch the demo