Janus chief executive Gary Black is proclaiming loudly the his firm has low exposure to SIVs in its money-market funds. A Reuters report quoted Black as saying that 5 percent of Janus's money market assets are invested in SIVs and that most of the exposure is to bank-sponsored SIVs. "We haven't had any issues with SIVs as some of our competitors have had. We are risk-averse. Our research is very strong," Black told the audience at the Merrill Lynch Banking and Financial Services Investor Conference in New York.  

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