The California Public Employees’ Retirement System (CalPERS) announced today they have gone live with Artemis, a new asset allocation software system developed by Ryedale, an investment management solutions design firm based in London.
The system currently provides comprehensive portfolio management and order management solutions for CalPERS’ Affiliate Program. The Affiliate Program is made up of several trust plans independent of the Public Employees’ Retirement Fund which CalPERS administers and invests on their behalf.
“This system embraces the latest cloud technology and reduces the operational risk of a process that previously had a large manual component,” said Dan Bienvenue, CalPERS’ Senior Investment Officer of Global Equity. “It improves efficiencies and reduces operational costs, so we are very pleased with the system as a whole.”
Artemis provides the book of record for the Affiliate Funds’ policy weights and the discretion thresholds around them. It also serves as the investment book of record for unit-level holdings, which can be aggregated and compared to policy weights to recommend changes in holdings. The new system supports oversight and control of the full order and execution process, and it transmits those investment instructions securely and electronically.
Artemis also has the ability to scale to a larger platform beyond the $13 billion Affiliate Program. In the future, it may be expanded for use across the entire Public Employees’ Retirement Fund.
Ryedale’s understanding of the complex management needs of an organisation such as CalPERS, and their specialisation in turn-key asset allocation, portfolio management, and trade order management solutions was critical to the success of Artemis.