Question: Is there an opportunity for individual investors who are not super-rich to participate in the new Toxic Asset plan? Maybe something like a mutual fund, or the Treasury’s non-competitive bid process?
Paul Solman: Supposedly yes. From an AP dispatch yesterday:
At least three mutual fund companies have already expressed interest in buying the toxic assets and giving fund clients a chance to invest.
‘We are intrigued by the potential double-digit returns as well as the opportunity to share them with not only clients but the American taxpayer,’ said Bill Gross, a founder and co-chief investment officer of Pimco, manager of the world’s largest bond fund.
Other fund companies said they’re exploring options and awaiting plan details.