Columbia Comfortable With Fractional Extendible CP and CDO Holdings. Money market mutual fund managers have been hosting calls and releasing statements to address investor concerns over subprime, extendible and CDO exposure. Bank of America subsidiary Columbia Management weighed in yesterday, saying its indirect exposure to the subprime market is "less than 1% of total assets in money market, enhanced cash and U.S. dollar offshore funds". Columbia's exposure to extendible CP is less than 4.9% of assets, and CDO exposure is less than 2.0%. "Given that extendible CP programs ... represent a limited percentage of portfolios ... prices could experience significant downward pressure without materially affecting the stability of our net asset values," says Columbia's statement.

Email This Article

Use a comma or a semicolon to separate

captcha image