Michigan Public School Employees

Stable Value

Manager: The fund utilizes multiple investment managers, with Voya Investment Management performing investment management duties for approximately 85% of the fund, State Street Global Advisors managing approximately 10% in a cash fund, and the remainder of the fund is managed by various insurance companies.

Category: Stable Value

Objective: To provide plan participants with a stable level of current income consistent with conservation of capital.

Strategy: Under normal market conditions, the portfolio will be diversified across a range of fixed income securities, including U.S. Treasuries, residential and commercial mortgage-backed securities, asset-backed securities and corporate bonds, which are rated in the three highest investment grade categories — AAA, AA and A — by a nationally recognized, independent rating organization. The portfolio also invests in traditional Guaranteed Interest Contracts issued by various insurance companies and a short-term interest fund, managed by State Street.

Fund fact sheet

For more information on this investment option, read the article, ‘What is a stable value investment option?’