Asset Allocation Glossary

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

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Active Asset Allocation Return - The portfolio return attributable to deviations between actual and policy asset allocations. Returns can be attributed to two sources: the active asset allocation return and the benchmark-relative return of each asset class. The CalPERS asset allocation return is calculated by the Custodian.

Related Policy

Asset Class Allocation - The net long market value of all non-derivative securities plus the net long futures-equivalent notional value of all derivatives.

Related Policies