Mutual funds managed by Morgan Stanley , Fidelity, and BlackRock appear to be among the most exposed to the collapse of Silicon Valley Bank and Signature Bank, Morningstar data showed, as a market selloff has erased more than $100 billion of U.S. banks' value.
appear to be among the most exposed to the collapse of Silicon Valley Bank and Signature Bank, Morningstar data showed, as a market selloff has erased more than $100 billion of U.S. banks' value.
Few funds held positions that alone appeared large enough to badly damage them, though further selloffs in regional bank shares could increase the pressure, said Todd Rosenbluth, head of research at data analysts firm VettaFi. He said mutual fund investors got the benefits of portfolio diversification. "But it depends what else the fund owns. Financials in general and regional banks more specifically are being hurt the uncertainty and risks that they could face a similar challenge."
Regulators closed Signature Bank on Sunday, marking the third-largest bank failure in U.S. history, after Silicon Valley Bank on Friday became the country's second-largest bank to collapse. Shareholders of both lenders were wiped out, though U.S. authorities took
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