CalPERS

Complete Glossary of Investment Policy Terms

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 CalPERS Investment Policy term or phrase. You'll also find information about the related policies and asset classes for each term.

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U


Un-leveraged Bank Loans - Loans made by banks that are typically partially secured by assets and are made to investment grade companies with a debt/EBITDA ratio less than 3.5 and have a spread to LIBOR of less than 250 basis points.

Related Policy


Related Category

Uncovered Call - A strategy in which an investor writes (sells) call options on the open market without owning the underlying security. This stands in contrast to a covered call strategy, where the investor owns the security shares that are eligible to be sold under the options contact.

Related Policies


Related Category

Uncovered Calls - A strategy in which an investor writes (sells) call options on the open market without owning the underlying security. This stands in contrast to a covered call strategy, where the investor owns the security shares that are eligible to be sold under the options contract.

Related Policy

  • No related policies

Related Category

Uniform Standards of Professional Appraisal Practice (USPAP) - Current standards of the appraisal profession, developed for appraisers and the users of appraisal services by the Appraisal Standards Board of The Appraisal Foundation. The Uniform Standards set forth the procedures to be followed in developing an appraisal analysis, or opinion and the manner in which an appraisal, analysis, or opinion is communicated.

Related Policy


Related Category

Unitized Fund Structure - Unitized Fund Structure allows multiple participants to contribute to a pool of assets while maintaining historical records and producing individual Net Asset Values (NAVs) for each participant. Each participant's share in the portfolio is separately accounted for using a system that accounts for each class of shares' proportional entitlement to the portfolio's Total Net Assets. The system maintains all of the funds' holdings at the fund level, and maintains the fund prices at the class level.

Related Policies


Related Category

Unitized Fund Structure - Unitized Fund Structure allows multiple participants to contribute to a pool of assets while maintaining historical records and producing individual Net Asset Values (NAVs) for each participant. Each participant's share in the portfolio is separately accounted for using a system that accounts for each class of shares' proportional entitlement to the portfolio's Total Net Assets. The system maintains all of the funds' holdings at the fund level, and maintains the fund prices at the class level.

Related Policies


Related Category

Unitized Fund Structure - Unitized Fund Structure allows multiple participants to contribute to a pool of assets while maintaining historical records and producing individual Net Asset Values (NAVs) for each participant.

Related Policy


Related Category

Up-Front Closing Fee - A fee paid up-front by an issuer to an underwriter or a group of underwriters, which agrees to purchase an entire security issue for a specified price, usually for resale to others.

Related Policy


Related Category

Usufruct Rights - The right to use and derive profit or benefit from property that belongs to another person, as long as the property is not damaged.

Related Policy


Related Category