Ohio BWC Cashes Out $52M Fund

The Ohio Bureau of Workers' Compensation has cashed out a $52 million investment fund with Fifth Third Bank, the agency said this week. The account was closed in July after the investment consultant hired by the bureau deemed the account an underperformer that should be dropped. The Fifth Third fund lost $8 million, consultant Ennis Krupp determined after being hired to examine the bureau's troubled portfolio. One investment held by the bureau -- a hedge fund that bet on the direction interests rates would take -- lost $215 million. Ohio Attorney General Jim Petro is suing the investment fi...