The Wall Street Journal Asks "Is Your Money Fund SIV Burdened?" Structured investment vehicles, or SIVs, are "threatening trouble in a seemingly unlikely place: money market funds," says Saturday's WSJ. Some funds "were holding 10% to 20% of their portfolios in debt issued by SIVs", including funds from Columbia, Credit Suisse, and Federated, reports the piece. However, it adds, "Significant money-fund losses are unlikely for several reasons. Only a handful of SIVs are thought to be in real danger and money funds typically own senior notes ... money-market funds are subject to strict investing rules that limit how much they can keep in individual holdings. Many funds already have begun drastically trimming SIV-related purchases ... [and] allowing securities to mature without rolling them into new debt from the issuer." Finally, the WSJ says, "Most important for money-fund investors, fund companies would almost certainly take steps to prevent losses from reaching shareholders -- such as ... purchasing the money-losing securities from the fund at their full price.