PIMCO to launch TALF fund

PIMCO's irrepressible Bill Gross has long been an advocate of the government's attempts to shore up the market for toxic assets, saying there were solid returns to be had. This is more than political rhetoric, apparently. The world's largest bond fund manager has plans to launch a closed-end asset-backed mutual fund linked to bonds purchased with aid from the government's TALF (Term Asset-Backed Securities Loan Facility) program, Reuters reports.

It would like to launch the fund within 30 days. The TALF Investment and Recovery Fund will borrow via TALF and then buy bonds backed by consumer receivables and loans. We'll likely see others follow suit. 

For more:
- here's the article

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