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Great Lakes Fund Solutions, Inc. is acquired and re-branded Marcal Systems Corporation

Tuesday, March 06, 2012
Opalesque Industry Update: Great Lakes Fund Solutions, Inc. (GLFSI or the Company) today announces its new name and management following the sale of Marcal Systems Corporation to Mark Lancaster, the Company’s new President.

Marc Veeneman, the co-founder and former President of the Company, continues to serve as a consultant to the firm. He says, “The approach that we took at the founding of the Company 28 years ago continues to drive its success. Great Lakes Fund Solutions fulfills a wide array of operational and custom IT needs for both private and public fund sponsors. The Company goes beyond traditional fund administration by supporting the operational elements of fund distribution, a demanding undertaking that relies on our custom-built technology.”

Mark Lancaster concurs, adding, “The Company’s selling agent support and sales material fulfillment functions are unique among alternative fund administrators. GLFSI supplies sales kits, calculates upfront and trailing commissions, and hosts custom Web sites that supply key management information to each fund’s selling agents.”

Veeneman adds, “The timing is great for someone with Mark Lancaster’s 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 class’s history of no to low correlation to the performance of the equity markets.”


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