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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Leverage - A condition where a portfolio's market obligation may exceed the market-value-adjusted capital commitment by the amount of borrowed capital (debt).

Related Policy

Liquidity - The ability to quickly convert a particular investment into cash at a low transaction cost.

Related Policy

Liquidity Risk - The inability to trade a position at a price approximating fair value.

Related Policy