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Article: Stable value managers see cash flow growth
- Article from:
- Pensions & Investments
- Article date:
- September 7, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Susan Barreto
Few money managers celebrate stock market downturns, but stable value managers might have good reason to do so.
The recent market drops have meant increased cash flow into many managers' stable value portfolios. That's welcome relief for a business that's suffered from low returns compared to other asset classes, as well as from 401(k) plan shifts away from stable value during the past several years.
For PRIMCO Capital Management, Louisville, Ky., the increase began in August, and was a breath of fresh air.
Through the end of July, the vast majority of stable value clients had negative cash flows, but in August, 80% of client ...