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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: westpacific who wrote (68154)	8/29/2007 1:31:47 PM
From: Snowshoe	Read Replies (1) of 116555

>>State Street has potential 17% portfolio exposure to Subprime.<< Interesting. On Monday our state retirement system here in Alaska issued a terse announcement that it was terminating a bond fund option that was managed by State Street. Looks like it had some dubious asset-backed stuff. I was not invested in this fund myself... Retirement Board Terminates Daily Government/Corporate Bond Fund Investment Option state.ak.us the ARM Board concluded that its duty as fiduciary of this fund required it to act decisively and immediately to stop further losses in the Daily Government/Corporate Bond Fund in order to protect the beneficiaries of this fund. Daily Government/Corporate Bond Fund (managed by State Street Bank & Trust Company) state.ak.us Sector Weightings as of 03/31/2007, % of portfolio 1. U.S. Credit 32.27% 2. Mortgage-Backed 24.95 3. Asset Backed 23.29 4. Government 19.13 5. Commercial MBS 0.36

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