Michael Giardina

More and more pension plans are exiting their domestic equity commitments in favor of long-duration bond vehicles to back up their liability needs, plan sponsors said in a new study.

The Baltimore global investment management firm T. Rowe Price has hired Craig Siddall, a veteran of institutional investment consulting and client management, as vice president and consultant relations manager focusing on Canada.

Credit Suisse said it has agreed to pay $425 million for a minority interest in the New York hedge fund manager York Capital Management.

Thanks to record low Aa corporate discount bond rates and declines in domestic and international stocks, U.S. corporate pension plans saw their funding status dip more than 5.6 percentage points, to 71.3%, in August, according to BNY Mellon Asset Management.