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In a move to fill a need in the mid- to large-sized defined contribution plan marketplace for diversification and actively managed fixed-income investments, Galliard Capital Management last week launched a new stable-value fund. The Managed Income Fund-which Karl Tourville, principal, says may be the first wrapped, multi-manager approach measured against two Lehman Brothers bond indices-is actively managed by Galliard, Pacific Investment Management Company (PIMCO), and Sanford C. Bernstein. "I am not aware of any other efforts that are this coordinated," says Jason Psome, manager director of stable value at Bernstein.