The Ohio Bureau of Workers’ Compensation (BWC) has announced a return on investment of 15.7 percent for 2003.
BWC had an investment return assumption of 5.65 percent. The bureau’s rate of return for 2003 boosts the five-year average rate of return for its state insurance fund to 4.79 percent.
BWC said it employs an investment policy that focuses on achieving long-term rates of return. The bureau seeks to achieve the highest possible returns using a policy that places a premium on growing its asset base while minimizing losses. The primary investment objective is to ensure aggregate returns for any five-year period exceed selected benchmarks while outpacing inflation, thus affirming BWC’s ability to meet financial and medical obligations owed to injured workers.
Approximately 60 percent of all assets are invested in fixed-income securities, with the balance appropriated in a diversified mix of equities. This asset allocation strategy is adjusted within well-defined ranges throughout a market cycle to allow the bureau to take advantage of rising and falling trends within major market sectors.
Topics Ohio
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