Ohio Bureau of Workers' Compensation, Columbus, hired six active domestic long credit fixed-income managers to run a total of $4.5 billion for its $20 billion State Insurance Fund, confirmed spokeswoman Melissa Vince.
The managers are Barrow, Hanley, Mewhinney & Strauss; Conning Asset Management; Legal & General Investment Management; Pacific Investment Management Co.; Prudential Fixed Income and Western Asset Management.
Funding comes from reducing the portfolios of passive domestic long credit fixed-income managers BlackRock and State Street Global Advisors, which currently run a total of $6.46 billion.
The change is a result of an adjustment in the allocation to domestic long credit fixed income to 20% active and 8% passive; previously the full 28% of the fund's assets was in passive strategies.
Ms. Vince had no further information on individual allocations to managers by press time.
