BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Money market funds at risk too - thanks to the mortgage mess]]>http://www.bloggingstocks.com/2007/10/23/money-market-funds-at-risk-too-thanks-to-the-mortgage-mess/http://www.bloggingstocks.com/2007/10/23/money-market-funds-at-risk-too-thanks-to-the-mortgage-mess/http://www.bloggingstocks.com/2007/10/23/money-market-funds-at-risk-too-thanks-to-the-mortgage-mess/#commentsFiled under: , , , ,

Yesterday I wrote about mutual funds at risk because of the mortgage mess. In response one of my readers (thanks Gary!) alerted me to an article in Fortune talking about how the safest of investment vehicles -- money market funds - are caught up in the SIV problem. Again Bank of America (NYSE: BAC) comes to the top of the pack as hosting some of the riskiest investments for its investors through Columbia Cash Reserves Fund. Fortune reported that as of Oct. 12 this fund has about $640 million in Cheyene Finance, an SIV in trouble.

When I took a look at its most recent report to shareholders (Feb. 28,2007), I found Columbia Cash Reserves Fund had five of the biggest SIVs in its portfolio including Cullinan (HSBC Bank), K2 (Dresdner), Sigma (Gordian Knot), Links Finance (Bank of Montreal) and Sedna (Citibank International). In addition to these five, the other major SIVs are Centauri, Beta Finance and Five Finance -- all managed by Citibank (NYSE: C) - Tango Finance managed by Rabobank International and Victoria Finance managed by Ceres Capital Partners.

Continue reading Money market funds at risk too - thanks to the mortgage mess

Money market funds at risk too - thanks to the mortgage mess originally appeared on BloggingStocks on Tue, 23 Oct 2007 17:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Bank of AmericaBankOfAmericaCcitibank internationalCitibankInternationalFideltiyJP Morgan ChaseJPMJpMorganChasemoney market fundsMoney markets and SIVsMoneyMarketFundsMoneyMarketsAndSivsSIVTue, 23 Oct 2007 17:28:00 EST