Ohio Bureau of Workers’ Compensation, Columbus, will launch a search in June for passive equity and fixed-income managers to run the $1.5 billion Disabled Workers Relief Fund II and the $322 million Black Lung Fund, said Melissa Vince, spokeswoman, in an e-mail.
The bureau’s board of directors on Thursday approved issuing an RFP on June 16 with proposals due July 14 and eventual finalist presentations and recommendations on Aug. 25. The RFP will be posted on the state’s procurement website.
The RFP is being issued due to the impending contract expiration of current managers BlackRock and State Street Global Advisors on Sept. 30. Both are invited to rebid.
SSgA runs a $541 million passive domestic intermediate-term fixed-income portfolio, a $521 million passive Treasury inflation-protected securities portfolio and a $329 million passive domestic all-cap equity portfolio for the Disabled Workers Relief Fund II, and a $127 million passive domestic intermediate-term fixed income portfolio, a $126 million passive TIPS portfolio and a $47 million passive domestic all-cap equity portfolio for the Black Lung Fund.
BlackRock runs $147 million and $22 million passive international equity portfolios for the Disabled Workers Relief Fund II and Black Lung Fund, respectively.
Investment consultant RVK is assisting.
