BlackRock mutual fund to give investors access to PPIP

07/29/2009 | NYTimes.com

BlackRock filed a prospectus with the Securities and Exchange Commission for a closed-end mutual fund that will give retail investors a chance to participate in the U.S. government's Public-Private Investment Program. The BlackRock Legacy Securities Public-Private Trust will buy residential and commercial mortgage-backed securities. To minimize risk, the fund will restrict investments to securities that originally carried AAA ratings from at least two credit rating agencies.

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