Ohio Workers' Comp Adopts New Asset Allocation
July 21, 2006
The Ohio Bureau of Workers' Compensation (BWC) has approved a revised asset allocation that would allow equity investments, according to the fund's Web site.
At the Workers' Compensation Oversight Commission (WCOC) meeting on July 20, the board voted to include a 20% exposure to the asset class. The remaining allocation consists of 79% fixed-income and 1% cash.
This move is BWC's latest attempt to rebuild its portfolio, which took a hard hit as a result of investments with MDL Capital Management and a rare coin investment (See IMW, 5/8/06). Last November, the fund opted to terminate all of its equity managers, moving the assets into conservative fixed-income funds (See IMW, 11/21/05).
Calls placed to Jeremy Jackson, spokesman for the fund, were not returned by press time.
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