Ohio Bureau of Workers' Compensation, Columbus, renewed its contract with State Street Global Advisors as the sole money manager for the $27 million Marine Industry Fund and $17 million Public Work-Relief Employees' Fund, spokeswoman Melissa Vince said in an email.
The bureau, which oversees $26.5 billion in insurance assets, including the $24.6 billion State Insurance Fund, approved renewing SSGA's contract at its meeting May 22. SSGA manages a passive intermediate-duration fixed-income portfolio for both funds. Originally hired in 2008, it's the fifth two-year renewal since the manager was hired. The contract now expires June 30, 2021. No RFP was issued.
Investment consultant RVK assisted.