For immediate release: Sept. 29, 2011

BWC Program Supports Fair Consideration for Minority and Women Investment Managers

Manager-of-Managers selected to manage a portion of the State Insurance Fund

COLUMBUS - The Ohio Bureau of Workers' Compensation (BWC) Board of Directors today approved the selection of two firms to oversee the selection and management of qualified minority-owned and/or women-owned (MWBE) firms to manage State Insurance Fund invested assets. Attucks Asset Management and Leading Edge Investment Advisors were selected as Managers-of-Managers (MoM) following a Request for Proposals search and evaluation process. Both are minority-owned firms.

"I am confident that both Attucks and Leading Edge will help us continue to make sound financial investment decisions while giving minority and women investment firms the opportunity to grow to stronger," said BWC Administrator/CEO Stephen Buehrer. "Throughout the thorough vetting process, these manager-of-managers investment experts demonstrated a solid track record and extensive knowledge of minority and women investment managers."

The board modified BWC's Investment Policy Statement last fall to allow for the implementation of a MoM strategy to efficiently administer and oversee qualified minority and women investment managers for the State Insurance Fund. Under the MoM program, BWC will place fund assets directly with each of Attucks Asset Management and Leading Edge Investment Advisors, which will have the authority and responsibility to identify, select and monitor MWBE investment managers.

The combined target asset allocation for the MoM firms is one percent of invested assets of the State Insurance Fund, or initially $200 million, to be benchmarked to the Russell 3000 Equity Index. The two MoM firms approved by the board will each receive $100 million to be invested.

The next meeting of the BWC Board of Directors is scheduled for Friday, Oct. 28.

Follow BWC on Twitter: @OhioBWC.

# # #