Ohio Bureau of Workers' Compensation, Columbus, renewed contracts with State Street Global Advisors for the $4.1 billion in passive equity and fixed-income portfolios it manages for three funds the bureau oversees, spokesman Tony Gottschlich said in an email.
The renewal is effective Oct. 1 and expires Sept. 30, 2022. SSGA's current contract began on Oct. 1, 2016 following an RFP process.
SSGA manages $2.3 billion in passive U.S. Treasury inflation-protected securities for the $24.6 billion State Insurance Fund; $620 million in passive U.S. long-duration government/credit fixed income, $600 million in passive U.S. TIPS and $337 million in passive domestic equities for the $1.7 billion Disabled Workers' Relief Fund II.
SSGA also manages $149 million in passive U.S. TIPS, $147 million in passive domestic aggregate fixed income and $49 million in passive domestic equities for the $374 million Coal Workers Pneumoconiosis Fund.
Investment consultant RVK assisted.