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Investors flocked to stable value funds in an effort to smooth volatility experienced in August, apparently seeing them as a higher-yielding alternative to money markets.

Bloomberg reports Galliard Capital Management’s stable-value funds saw more than four times the usual inflows in August as market volatility increased. Investors in retirement plans administered by Wells Fargo & Co. moved $850 million into the funds that month, and Aon Hewitt, a benefits manager, had $1 of every $5 transferred by plan participants put in a stable-value fund.

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