Fund administrator Marcal Systems Corporation has been sold to Mark Lancaster, the companys new president, and rebranded as Great Lakes Fund Solutions.
Marc Veeneman, co-founder and former president of the company, continues to serve as a consultant to the firm.
Great Lakes Fund Solution supports the operational elements of fund distribution using custom-built technology, along with traditional fund administration services, Veeneman says.
The companys selling agent support and sales material fulfillment functions are unique among alternative fund administrators, Lancaster says. GLFSI supplies sales kits, calculates upfront and trailing commissions, and hosts custom Web sites that supply key management information to each funds selling agents.
Veeneman adds: The timing is great for someone with Mark Lancasters deep industry connections and business development skills to take the helm. Managed Futures funds –a GLFSI mainstay are now very popular and positioned for continued growth, given the asset classs history of no to low correlation to the performance of the equity markets.
(CG)