SIVs in need of a service

Structured Investment Vehicles


Structured investment vehicles (SIVs) seem to have been constantly in the headlines over the past month - and almost none of it has been good. Plunging prices on collateralised debt obligation (CDO) tranches have caused some vehicles to hit market-value triggers and liquidate assets. With few signs of improvement on the horizon, both banks and managers are considering taking drastic action to retrieve the value embedded in those portfolios. Options have included restructurings, along with a prop

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