University of Maine System , Bangor, hired T. Rowe Price to manage...

University of Maine System, Bangor, hired T. Rowe Price to manage $5.8 million for the $84 million endowment, said Michael J. Soucy, assistant treasurer. Assets will be invested in the T. Rowe Price Institutional High Yield Fund. Partial funding will come from reducing the system’s $22.7 million Commonfund Multi-Strategy Bond Fund investment to $18.5 million; remaining funding is yet to be determined. The system’s asset allocation is 62% domestic equity, 12% international equity and 26% fixed income. New England Pension Consultants advised.