Sunday's New York Times carried an item on mutual funds that hold distressed debt. The article, penned by Norm Alster, mentioned BlackRock High Yield, Mutual Recovery and Northeast Investors Trust, and quoted BlackRock fund manager James Keenan as saying that there's going to be "tremendous opportunity over the next 12 to 18 months." Also interviewed for the story is Michael Embler, chief investment officer for Franklin Templeton's Mutual series. "There have been a lot of funds raised. Most of the money has not been deployed," Embler told Alster.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE