The credit crisis has now reached out and touched even the safest type of investments in the market, Diya Gullapalli and TOm Lauricella write in today's WSJ FundTrack
. The trouble stems from structured investment vehicles (SIVs). Gullapalli and Lauricella write that some money funds have gone as far as approaching the SEC for guidance while others have already taken some action. SEI Investments announced yesterday it would provide financial guarantees for some of of the SIV holdings of two of its funds. SunTrust Banks, meanwhile, has discussed with the SEC. its plans of handling SIV-related holdings in its portfolios. For its part, Legg Mason poured in $100 million in one of its money funds and arranged $238 million in credit for two other funds,
reported, citing a regulatory filing.
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