As used in this chapter, the following words will have the following meanings, unless some other meaning is plainly indicated:
    (1) Strategy – Strategy consists of determining the appropriate risk-return tradeoffs for the total fund in light of the investment objectives.
    (2) Fund – Fund shall mean the Florida Retirement System Defined Benefit Plan Trust.
    (3) Tactics – Tactics consists of change in specific security holdings made regularly during the course of investment activity that do not materially change the expected risk or return of the total fund or of the asset class portfolio involved.
    (4) Return – Return shall mean total return, including both current income and change in market value.
    (5) Risk – Risk shall mean the potential underperformance verses the investment objective measured in the best available and most appropriate manners for the Fund.
    (6) Synthetic securities – Securities created through the combination of cash market instruments, such as U.S. Treasury Bills, with futures market positions which, when taken together, mimic the characteristics of a cash market security or group of securities.
Rulemaking Authority 215.52 FS. Law Implemented 215.44, 215.47 FS. History-New 12-25-85, Formerly 19-4.012, Amended 12-14-86, 6-8-14.