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As stocks tumbled in October, 401(k) investors increased trading activity according to Alight Solutions 401(k) IndexTM. All told, the month had five days of above-normal1 trading activity, including the first high trading days since April 2018. Net trades overwhelmingly went from equity funds to fixed income funds.
The Alight Solutions 401(k) Index™ statistics for the month of October 2018:
Inflows and outflows during the month:
October investment portfolios:
October market observations
October proved to be a difficult month for investors. Large-Cap U.S. equities (represented by the S&P 500 Index) fell -6.8%, Small-Cap U.S. equities (represented by the Russell 2000 Index) fell -10.9%, and International equities (represented by the MSCI ACWI ex-US Index) fell -8.1%. Although not as severely as equity markets, the U.S. Bond market (represented by the Bloomberg Barclays U.S. Aggregate Index) also fell, losing close to -1%.
Members of the media: please contact MacKenzie Lucas for questions about the Alight Solutions 401(k) Index™.
Learn more about the Alight Solutions 401(k) Index™ here.
A “normal” level of relative transfer activity is when the net daily movement of participants’ balances as a percent of total 401(k) balances within the Alight Solutions 401(k) Index™ equals between 0.3 times and 1.5 times the average daily net activity of the preceding 12 months. A “high” relative transfer activity day is when the net daily movement exceeds two times the average daily net activity. A “moderate” relative transfer activity day is when the net daily movement is between 1.5 and two times the average daily net activity of the preceding 12 months.
Target date funds also include the amounts in target risk funds. The amount in the target risk funds is less than 10% of the total.