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A volatile January on Wall Street prompted 401(k) investors to increase trading, according to the Alight Solutions 401(k) Index™. January had five days of above-normal1 activity – three more than the combined total of the last four months of 2019.
Inflows and outflows during January:
January investment portfolios:
January market observations:
January was a volatile month for investors. U.S. bonds (represented by the Bloomberg Barclays U.S. Aggregate Index) generated a positive return of 1.9%. U.S. large cap equities (represented by the S&P 500 Index) were flat, international equities (represented by the MSCI All Country World ex-U.S. Index) dropped 2.7% and U.S. small cap equities (represented by the Russell 2000 Index) fell 3.2%.
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.