BlackRock 's (nyse: BLK - news - people ) Total Return fund returned 1.43% for the year through May 15, putting it in the bottom 18% of like funds.

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Looking to shore up confidence, the pool's directors hired fixed-income giant BlackRock (nyse: BLK - news - people ) to analyze the troubled fund and take over management for a 90-day period.

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Fleming, a Merrill veteran who helped negotiate the firm's half-interest in mutual fund giant BlackRock (nyse: BLK - news - people ).

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