Posted On:
July 16, 2007
REGIONS MORGAN KEEGAN MUTUAL FUNDS RECOGNIZED FOR BEING AT RISK FOR INVESTMENTS BACKED BY SUBPRIME LOANS
Regions Morgan Keegan Select High Income Fund, a mutual fund with $1 billion in holdings, stood out for its significant holdings in risky subprime loans. As of the end of March the fund had more than 16% of its assets invested in securities that either were rated “below investment grade” or were “unrated” by rating agencies. The collateral debt obligations were also concentrated in mortgage-related securities, which made up about half of the holdings. The fund among the worst performing mutual funds for recent months and was recognized for taking a hit, due to exposure to risky subprime loans.
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