Hedge Funds

Ohio Compensation Board lost $215 million with MDL


It seems there is more bad news for the Ohio Worker's Compensation Bureau, which last month reported a $50 million loss in a rare coin hedge fund that resulted in an FBI investigation And the same board this week, in its annual report, disclosed a larger loss of $215 million last year from investing in Pittsburgh-based MDL Capital Management, a fixed income manager.

Details of the fixed income trading losses were not disclosed. However, state lawmakers have accused the board of failing to disclose the losses, which were first allegedly known in September. Democratic lawmakers allege the losses were