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Ten biggest U.S. funds reduce holdings of euro-area bank debt by $8.3 bln in May.
Just 1% of companies surveyed by SEI say theyre terminating their plans.
Giving foreign branches leeway on Dodd-Frank rules would send finance jobs overseas, he says.
JPMorgan chiefs remark bolsters case for tougher Volcker Rule.
Plan managers invest in debt of speculative-grade companies, aiming for 8% returns.