DBS Asset Management's CDOs Have No Subprime Exposure

Source : The Business Times, August 7, 2007

SINGAPORE - DBS Group Holdings, South-east Asia's largest lender, said on Tuesday that the collateralised debt obligations (CDOs) of its asset management arm have no exposure to subprime mortgage loans.

DBS said in a statement that DBS Asset Management manages two CDO portfolios with underlying assets totaling US$1.03 billion.

'Neither CDO has underlying assets with exposure to US subprime mortgages,' the bank said. -- REUTERS