Fund Administration: LaSalle muscles in on administration

Allison Smaluk, LaSalle Global Fund Services: Administrators lack systems to cope with structured products

“We saw a lot of independent administration firms taking on hedge funds regardless of whether they could cope with their strategy,” says Allison Smaluk. US head at LaSalle Global Fund Services. “Long/short equity was typically the strategy administrators were and are used to serving, and when increasingly managers would start to use structured products, administrators did not have the systems that could cope.”