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Market volatility expected to continue

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.

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