Ohio Bureau of Workers’ Compensation, Columbus, hired SSgA and BlackRock to passively manage the bureau’s $1.2 billion Disabled Workers’ Relief Fund and $250 million Coal Workers’ Pneumoconiosis Fund, confirmed Michelle Gatchell, spokeswoman at the $24.5 billion fund.
SSgA will passively manage 89% of the disabled workers’ fund; 35 percentage points in U.S. TIPS, 34 percentage points in domestic fixed income and 20 percentage points in U.S. equity. Also, SSgA will run 93% of the coal workers’ fund; 40 percentage points in U.S. TIPS, 39 percentage points in U.S. fixed income and 14 percentage points in U.S. equity.
BlackRock will passively manage the international equity allocations of the two funds, 11% of the disabled workers’ fund and 7% of the coal workers’ fund.
Ms. Gatchell could not provide funding information or further details by press time.