Ohio Bureau of Workers Compensation Board (BWC) has invested $125m (€108m) in four open-ended, core-plus real estate funds to help meet its new allocation target.

The provider of workers’ compensation insurance said in a board meeting document that it is investing $50m in PGIM Real Estate’s PRISA II, and $25m each in Invesco’s US Income Fund, Clarion Partners’ Lion Industrial Fund and the Prologis Targeted US Logistics Fund.

The latest investments will increase the $26.8bn Ohio BWC’s core-plus portfolio from 2.6% to 3.1% of total assets. Last month, the pension fund approved a plan to raise its core-plus allocation from 3% to 4%.

Industrial assets will make up around 43.3% of the four funds assets, with apartments the next biggest sector at 21.8%.

Ohio BWC said industrial sector has been the best of the four main property types for investment returns over the past three years and is forecast to continue to offer the highest returns over the next three to five years due to strong fundamentals and online retail demand.

The two industrial-centric funds managed by Prologis and Clarion have produced a 23.19% and 15.28% one-year return, both beating the NFI-ODCE Index return of 8.16%.

The Ohio state’s insurance fund for injured workers also reaffirmed its plan to invest an additional $165m in core plus open-ended funds either during the second half of 2018 or the first half of next year.

An earlier version of this story incorrectly referred to Ohio BWC as a pension fund.