Ohio Bureau of Workers Compensation, Columbus, hired State Street Global Advisors, its global custodian, to run about $14.3 billion in a Lehman Brothers Aggregate bond index fund until one or more fixed-income managers can be hired to handle the money, said Jeremy Jackson, a spokesman for the $14.5 billion fund. The remaining $200 million is with some 22 private equity managers. Fund officials will look for look for bond managers in the next three to four months, but details have yet to be decided.
Last week, the fund's oversight commission chose to terminate all 69 of its money managers, including 50 equity managers, and invest almost all of the fund in fixed income. But once the fund's new administrator, William E. Mabe - a former retired vice president at Nationwide Health Services - gets settled in to his new position, discussions on investing in equities could begin again, Mr. Jackson said. "Once we get healthy, there could be some discussion on getting back into equities, but right now there are other things that the new administrator wants to look at," said Mr. Jackson.