First Eagle's Core Plus Municipal Fund will invest up to 30% of its assets in junk or unrated securities.
Investors plowed almost $4.4 billion into the First Eagle High Yield Municipal Fund this year through November.
At least 16 continuing care retirement communities have filed for bankruptcy since 2020.
The companies allege they were defrauded by a project underwriter.
Pat Haskell's key challenge is reversing severe outflows from actively managed mutual funds.
Market-wide, high-yield muni funds have gained $5.7 billion this year.
Patrick Haskell, a former co-head of fixed income capital markets at Morgan Stanley, has taken over.
The city is facing an estimated $880 million in unpaid taxes this year.
Each year, billions of dollars in high-risk projects are financed with little vetting or government oversight.
The November winning streak will be tested this year if the economy defies expectations and strengthens.
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