PIMCO NEW YORK : Pimco's Gross looks to manage government's rescued assets

NEW YORK (Reuters) - Bill Gross, chief investment officer of Pimco, said he is interested in managing a pool of assets acquired by the government through recent financial rescue plans.

"We have interest in managing this giant pool of assets, and we expect to be called," Gross said on CNBC television in response to a question on whether Pimco had been consulted by the government about doing so.

Gross also said he expected the government to buy mortgage-backed securities in the secondary market at about 65 cents on the dollar.

The government should get a positive return on a deal in which it will bail out American International Group Inc with a $85 billion credit facility in exchange for a major stake in the insurer, Gross said.

"The return on AIG will be a very positive one," Gross said, adding that he expects AIG to be "thriving" in five years.

Pimco is the world's biggest bond fund manager.

(Reporting by John Parry and Chris Reese, Editing by Chizu Nomiyama )