This excerpt taken from the PCG 10-K filed Feb 24, 2009.
SRSP Stable Value Fund seeks to provide safety of principal and liquidity while providing a higher return over time than that offered by money market funds. The Fund invests in diversified portfolio investment contracts issued by insurance companies, banks, and other financial institutions. An investment contract is an agreement where the issuer promises to pay a specific rate of return to the holder for a period of time. The quality of the promise depends on the financial strength of the issuer. The Fund may also hold a small percentage of cash or other short-term investments. The Fund is managed by PRIMCO Capital Management.