CalPERS

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

A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  #  ALL  


F


Factor Return - See Common Factor Return.

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Financial Times Stock Exchange (FTSE) - The index publisher that produces the Custom FTSE All World ex-US Index for CalPERS. FTSE is partially owned by the London Stock Exchange and Financial Times.

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Forecasted Tracking Error - The expected or ex ante annualized standard deviation of the difference between the return, defined as the average of the model estimates of at least two providers.

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Forecasted Tracking Error - The expected or ex ante annualized standard deviation of the difference between the total return of the portfolio and the total return of the benchmark.

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Fund - A portfolio specifically managed for CalPERS by an external investment manager or managed internally.

Related Policy


Fund of Funds - An investment approach where a Manager contracts with multiple investment managers to create one diversified portfolio. Diversification is created by including investment managers utilizing different investment strategies.

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Fundamental Risk Model - A model used to predict the risks of individual stocks using fundamental and technical information. A covariance matrix is constructed from the factor's standard deviations and the correlations between one another. This covariance matrix can be used to predict the risk characteristics of a portfolio.

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Futures - Exchange-traded contracts to buy or sell a standard quantity of a given instrument, at an agreed price, and date. A future differs from an option in that both parties are obliged to abide by the transaction. Futures are traded on a range of underlying instruments including commodities, bonds, currencies, and stock indices.

Related Policy

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