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A volatile August on Wall Street spurred higher than normal 401(k) trading activity according to the Alight Solutions 401(k) Index™. Net trading activity for the month was the highest in 2019 at 0.24% of balances. Additionally, there were six above-normal1 days, the highest monthly total since December 2018.
The Alight Solutions 401(k) Index™ statistics for the month of August 2019:
Inflows and outflows during the month:
Agust investment portfolios:
August market observations:
Equities fell during the month of August with small U.S. equities (represented by the Russell 2000 Index) losing 4.9%, large U.S. equities (represented by the S&P 500 Index) falling 1.6% and international equities (represented by the MSCI All Country World ex-U.S. Index) dropping 3.1%. Fixed income investors fared better with U.S. bonds (represented by the Bloomberg Barclays U.S. Aggregate Index) gaining 2.6%.
Members of the media: please contact Dominic Belmonte 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.