Documentation
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Security Manager
Set this property to default to use the default security manager configured by the application server. A security manager will not be used if the application server did not configure one.
Set this property to liferay to use Liferay's security manager if the application server has not configured a security manager.
Set this property to none to explicitly remove the security manager regardless of whether one is configured. This ensures that the portal is run in a JVM without a security manager.
Set this property to smart to allow the portal decide which strategy to use based on which application server it is on.
portal.security.manager.strategy=smart