Toluma · Fund management
Weeks of work, down to minutes.
Reconciliation, board reporting, and portfolio analytics for a licensed Norwegian fund manager, replacing weeks of manual spreadsheet work with agents that run in minutes.
Client
Toluma AS
Sector
AIF fund manager
Timeline
6 weeks
Delivered by
Varden
Regulated complexity, small team
Toluma received its AIFM licence from the Norwegian Financial Supervisory Authority in late 2025, managing multiple alternative investment funds across equities, bonds, private equity, and real estate.
With the licence came a step change in regulatory obligations: quarterly compliance tracking across 44 policy areas, multi-source accounting reconciliation in multiple currencies, and board reporting to professional governance standards. All handled by a lean team, with the books running on Escali Financials and custody at DNB.
The open question was whether AI could handle the precision, auditability, and domain specificity that regulated fund management demands.
Three streams of work, one toolkit.
Accounting reconciliation
Automated matching of balance sheet, income statement, and bank transactions across Escali, DNB, and VPS, in six currencies. The AI reads both sides of every reconciliation, applies domain-specific mapping rules, and flags discrepancies down to single-digit rounding differences. Designed for the controller.
- Multi-currency
- Balance and P&L
- 3-way matching
- Escali, DNB, VPS
Board reporting
One-command generation of board-ready documents: compliance status memos that parse the full regulatory task tracker across 12 roles and 44 policies, and financial summary memos that extract, contextualise, and narrate the annual accounts. AI writes the narrative; humans review and sign.
- Compliance (Sak 4)
- Accounts (Sak 7)
- Norwegian AIFM
- Branded .docx
Portfolio analytics and valuation
Tools for the asset managers: portfolio dashboards, company research, and independent critique of PE and CRE valuations. The valuation critics check the arithmetic, research market benchmarks, assess GP track records, and flag where assumptions diverge from observable data.
- PE valuation critique
- CRE valuation critique
- Company research
- Portfolio dashboards
Skills built on the real books.
Reasoning skills
Each capability is an AI skill: a structured set of instructions, reference data, and domain knowledge that lets a language model perform a specific professional task. Skills reason about edge cases, adapt to new data formats, and explain their work.
Built on real data
Every skill was developed and tested against Toluma's actual financial data: real Escali exports, real bank statements, real compliance trackers. We iterated until the reconciliations matched to the kroner and the board memos read like they were written by a domain expert.
Live data connector
An MCP integration connects directly to Escali Financials, enabling live portfolio lookups, NAV queries, and transaction history without manual exports. Skills fall back to file uploads when the connector is unavailable.
Packaged for the team
The full toolkit is structured as a plugin marketplace: installable with a single command, organised by role (controller, board prep, asset manager), and documented for onboarding. The team picks what they need.
- Claude (Anthropic)
- Escali Financials
- MCP Protocol
- Claude Skills and Agents
- DNB Custody
- VPS
- Norwegian GAAP
- AIFM Regulation
10+
AI skills
Purpose-built agents covering reconciliation, reporting, and analytics.
6
Currencies
NOK, SEK, EUR, USD, DKK, and AUD, all reconciled automatically.
44
Policy areas
The full compliance tracker parsed, analysed, and narrated for the board.
