Pooled Money Investment Account

Sub Prime Statement

The fallout from sub prime woes continues to affect both credit markets and investors. Two specific types of securities--Structured Investment Vehicles (SIVs) and Collateralized Debt Obligations (CDOs)--seem to prompt the most negative headlines. The PMIA does not now invest, nor has it ever invested, in either of these two securities. We do not find them appropriate for our program.

For your review and consideration, and in keeping with full transparency of the PMIA portfolio performance, the PMIA's holdings are displayed quarterly on the Treasurer’s website and may be accessed under PMIB Quarterly Reports.