Legg Mason to Offer Added Support for Funds With SIV Assets

Legg Mason Inc. said it will provide added support for four more money-market funds with assets still in structured investment vehicles, the asset-management firm's latest step in trying to stabilize its cash funds and shield investors from losses in the underlying assets.

SIVs, which issue short-term debt to buy other, higher-yielding assets, were severely hurt by the credit crunch that left buyers for the debt on the sidelines due to concerns about exposure to subprime-mortgage securities.