Looking back at 2008, public pension funds nationwide have been similarly affected by one of the worst market performances on record. Compared to approximately 30 large public pension funds in a survey of 2008 returns by the global financial services firm Bank of New York Mellon, SWIB’s Core Fund ranked in the top third with its return of -26.2%. The median fund return was -27.0%. In another survey by Northern Trust, a financial management firm, the median public fund return was -26.6% for the year, placing the Core Fund somewhat ahead of the median fund.