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October was another slow month for 401(k) trading, according to the Alight Solutions 401(k) IndexTM. The overwhelming majority of days saw net trading activity move from equities to fixed income funds. There was one day of above-normal1 trading.
The Alight Solutions 401(k) Index™ statistics for the month of October 2019:
Inflows and outflows during October:
October investment portfolios:
October market observations:
October saw gains broadly for capital market indices with international equities (represented by the MSCI All Country World ex-U.S. Index) rising 3.5%, small U.S. equities (represented by the Russell 2000 Index) gaining 2.6%, large U.S. equities (represented by the S&P 500 Index) advancing 2.2% and U.S. bonds (represented by the Bloomberg Barclays U.S. Aggregate Index) earning 0.3%.
Members of the media: please contact Landis Cullen 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 is when the net daily movement exceeds two times the average daily net activity. A “moderate” relative transfer activity 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.