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July was a particularly slow month for trading for 401(k) investors in defined contribution plans, with no days of above-normal1 trading activity, according to the Alight Solutions 401(k) IndexTM. This continues the lull in trading activity observed over the previous two months (May and June each saw only one day of above-normal trading). When trades happened, investors favored fixed income funds over equities.
The Alight Solutions 401(k) Index™ statistics for the month of July 2018:
Inflows and outflows during the month:
July investment portfolios:
Asset classes with most contributions in July
July market observations
Domestic and international equities experienced positive market returns for the month, with both large U.S. equities (represented by the S&P 500 Index) up 3.7% and small U.S. equities (represented by the Russell 2000 Index) up 1.7%, while international equities (represented by the MSCI All Country World ex-U.S. Index) settled between the domestic indices at 2.3%. U.S. bonds (represented by the Bloomberg Barclays U.S. Aggregate Index) broke even for the month with a slight net gain less than 0.1%.
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.