San Mateo, Calif., October 27, 2008 - FirstRain®, the leader in search-driven research for investment professionals and executives, today announced that the California State Employees Retirement System (CalSTRS) has selected FirstRain's pension governance solution. This solution provides two major benefits including reduced governance risk and comprehensive web mining for emerging data on governance principles, regulations and mandates.
Investment officers at large pension funds face overwhelming pressure to reduce governance risk. In order to protect their shareholders and to comply with mandates, pension firms are investing in automated research of four central areas:
"In this environment, and with the rapidly expanding data on the web, pension funds need automation to manage governance research," said Penny Herscher, president and CEO of FirstRain. "We are delighted to power governance analysis at pension funds like CalSTRS and South Dakota Investment Council, as well as across our more than 100 client firms."
FirstRain's pension governance solution is available immediately to FirstRain clients.
As the leader in search-driven research, FirstRain provides global firms with a competitive advantage, revealing information and trends from the web that they would not otherwise see. FirstRain changes the rules of research by applying state-of-the-art extraction and pattern detection technology to the web. FirstRain is a privately held company with more than 150 employees, headquartered in San Mateo, Calif., with additional offices in New York, NY and Gurgaon, India. Contact FirstRain at www.firstrain.com. Visit CEO Penny Herscher's blog, Market Mine, at http://pennyherscher.blogspot.com.
Ogilvy Public Relations