T. Rowe Price’s Paul Karpers steps down as manager of several funds

By Toni Weeks

San Luis Obispo, Calif., July 9 – T. Rowe Price said that Mark J. Vaselkiv has replaced Paul A. Karpers as the portfolio manager of the T. Rowe Price Institutional High Yield Fund.

In addition, Rodney M. Rayburn has replaced Karpers as the portfolio manager of the T. Rowe Price Credit Opportunities Fund and T. Rowe Price Institutional Credit Opportunities Fund.

The new portfolio managers will also take over Karpers’ position as chairman of the investment advisory committee for each fund.

The new appointments were effective July 8.

T. Rowe Price funds are managed by Baltimore-based T. Rowe Price Associates, Inc.

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