Ohio Bureau of Workers Compensation (BWC) has approved $189.8m (€161.5m) worth of redemptions from core and core-plus open-ended funds, according to a meeting document.
The provider of workers’ compensation insurance started its real estate fund redemption plan this year as part of a plan to redeem up to $875m to be used as part of payments being made to workers adversely impacted by the coronavirus pandemic.
Ohio BWC stated in the meeting document that it has in the last two months approved to redeem $44.6m out of its $253.6m investment held in ASB Allegiance Real Estate Fund, a fund which had a $785m exit queue as at the end of last year.
Ohio BWC is taking $36.2m out of its $233.7m held in Barings Core Property Fund, which has a $106.9m exit queue. It is also redeeming $23.6m from the $325.9m it has invested in the AEW Core Property Fund, a fund with a $615.5m exit queue.
It also issued smaller redemptions out of the Invesco Core Real Estate USA, UBS Trumbull Property Fund, USAA Eagle Real Estate Feeder 1, Heitman America Real Estate Trust and JP Morgan Income & Growth funds.
So far this year, Ohio BWC has now filed for $398.8m worth of redemptions.
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