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The third quarter saw 401(k) investors continue to trade money from equities to fixed income funds, according to the Alight Solutions 401(k) Index™. This marks the seventh consecutive quarter where net trades favored fixed income funds over equity funds.
Third quarter observations:
Alight Solutions 401(k) Index™ statistics for Q3 2019 and year-to-date:
Third quarter market observations:
In the third quarter, equity markets were mixed: U.S. bonds (represented by Bloomberg Barclays U.S. Aggregate Index) gained 2.3% and large U.S. equities (represented by S&P 500 Index) gained 1.7%, while small U.S. equites (represented by Russell 2000 Index) fell 2.4% and international equities (represented by MSCI All Country World ex-U.S. Index) dropped 1.8%.
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 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.