chief executive Gary Black
is proclaiming loudly the his firm has low exposure to SIVs in its money-market funds. A Reuters
report quoted Black as saying that 5 percent of Janus's money market assets are invested in SIVs and that most of the exposure is to bank-sponsored SIVs. "We haven't had any issues with SIVs as some of our competitors have had. We are risk-averse. Our research is very strong," Black told the audience at the Merrill Lynch Banking and Financial Services Investor Conference in New York.
Stay ahead of the news ... Sign up for our email alerts now