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City sees opportunities for better returns and lower costs by managing some investments in-house.
Brazil's state-run oil producer is said to be planning an $11 billion bond sale, a record for emerging markets.
SEC has yet to draw up rules as big companies lobby against the Dodd-Frank requirement.
ICI puts hard numbers behind a general sense of lower costs.
The trend reflects companies' desire to maintain a level of flexibility and control over plan design and cost.
Companies are on track to continue lump-sum offers this year.