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CalPERS to license Ermitage’s OPTICS portfolio system


The California Public Employees’ Retirement System (CalPERS) has been applying Ermitage Group’s OPTICS advanced portfolio management system to its Risk Managed Absolute Return Strategies Program (RMARS) and Global Equity Program.

Following a trial phase completed in the first quarter of 2010, Ermitage has now reached an agreement with CalPERS, its first external client for the system, to license OPTICS. Ermitage has been managing a bespoke European Multi-Strategy Portfolio for CalPERS since 2006, but this is the first time it has made its proprietary systems available on a stand-alone licensed basis.

OPTICS has been developed over four years, beginning