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February was a slow trading month for 401(k) investors, according to the Alight Solutions 401(k) Index. There were three trading days of above-normal1 trading activity. When participants made trades, they overwhelmingly favored fixed income funds over equities.
The Alight Solutions 401(k) Index™ statistics for the month of February 2019:
Inflows and outflows during the month:
February investment portfolios:
February market observations:
For most investors, February continued the positive performance experienced in January of this year. Large U.S. equities (represented by S&P 500 Index) gained 3.2% and small U.S. equities (represented by the Russell 2000 Index) increased 5.2%. International equities (represented by the MSCI ACWI ex-US Index) rose 2.0%. The U.S. bond market (represented by the Bloomberg Barclays U.S. Aggregate Index) lost -0.1%.
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.