Global Fixed Income 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 Fixed Income Investment Policy term or phrase. You'll also find information about the related policies and asset classes for each term.
Hedge (Hedging) - A strategy used to offset investment risk. A perfect hedge is one eliminating the possibility of future gain or loss.
- Currency Overlay Program (PDF, 233 KB)
- Global Fixed Income Program (PDF, 190 KB)
- Low Duration Fixed Income Program (PDF, 326 KB)
- Liquidity Program (PDF, 216 KB)
High Quality LIBOR - A limited-duration, highly liquid, LIBOR-based fund managed by CalPERS staff.
Historical Factors - A review of past relationships and the environment associated with them to assess the relative investment potential of the current market conditions and relationships.