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.

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M


Manager - A professional responsible for managing the securities portfolio of an individual or institutional investor. In return for a fee, the money manager has the fiduciary responsibility to choose and manage investments prudently for their clients. In CalPERS case, an internal manager is a portfolio manager on the staff, while an external manager is an outside money management firm.

Related Policies


Market Capitalization - A stock's current market price multiplied by the current common shares outstanding.

Related Policy

  • No related policies

Market/Book Ratio - A stock's equity market value, divided by book value at the most recently available fiscal year end (assets minus liabilities).

Related Policy

  • No related policies

MDP Firm - An investment management firm managing CalPERS' assets as part of CalPERS' MDP program.

Related Policy

  • No related policies

MDP Partner - A managing member of a CalPERS MDP limited liability company.

Related Policy

  • No related policies

Mean - The value that is to be expected on average. Among many repetitions or trials of a random process, the mean shall be the average value.

Related Policy

  • No related policies

Merger - The combination of two or more companies. Strictly speaking, only combinations in which one of the companies survives as a legal entity are called mergers.

Related Policy

  • No related policies