PIMCO, BlackRock Among First Fund Firms to Apply for Toxic Asset Program

PIMCO and BlackRock are two of the first mutual fund companies to sign up for the Treasury Department's new program to purchase troubled assets-PIMCO as both a buyer and manager of debt and BlackRock only as a manager. Other fixed-income fund shops are expected to sign up as well. PIMCO and BlackRock also said they are considering launching mutual funds that will invest in the toxic assets.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.