This Glossary identifies, defines, and clarifies the meaning of investment terms used by CalPERS in our investment policies. The purpose of the Glossary is to establish a uniform vocabulary of terms for users of these policies.
Choose from the letters below to find a specific Operations Investment Policy term or phrase. You'll also find information about the related policies and asset classes for each term.
Transition Portfolios - A portfolio designed to separate the cost and performance impacts on investment programs or asset classes, related to cash or security movements and transactions not associated with the on-going investment management of affected portfolios. Segregating these costs and performance impacts is in line with standard market practice. Furthermore, transactions within Transition Portfolios must adhere to additional levels of oversight to monitor compliance with permitted use restrictions and verify transactions.
- Plan Level and Asset Class Transition Portfolios (PDF, 25 KB)