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By Muralikumar Anantharaman and Jennifer Ablan BOSTON (Reuters) - Large U.S. asset managers with strong fixed-income records, such as BlackRock Inc (BLK.N), PIMCO and Trust Company of the West, are seen as favored to oversee the U.S. government's $700 billion financial rescue fund. For these and other firms in the race, the main attraction would be a chance to make reputational, rather than financial, gains as the fees for managing the assets are expected to be low. "In order to manage fixed-income products very well, you generally need scale. That's why in the fixed-income space it's very difficult to break in, because you need the size," said Roger Smith, an analyst at Fox-Pitt, Kelton. In an attempt to clean up the worst financial disaster since the Great Depression, the U.S. Congress has legislated a move to let the... [read full story]
