Ohio Bureau of Workers’ Compensation goes with RhumbLine in move to passive

Ohio Bureau of Workers' Compensation, Columbus, hired RhumbLine Advisers to manage about $250 million in passive domestic large-cap equities for the $25 billion State Insurance Fund in its minority-owned and/or women-owned business enterprise program, said Melissa Vince, spokeswoman, in an email. The bureau issued an RFP in June following its decision to switch its minority- and women-owned business enterprise program, which has an overall target of 1%, to passive managers from active managers.

Attucks Asset Management and Leading Edge Investment Advisors had remained the sole managers, each running about $125 million, in the program since they were originally hired in September 2011. The managers, which only run active strategies, did not rebid.

Investment consultant RVK assisted.